Strong start for leveraged market with mandate rush

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By Owen Sanderson
07 Jan 2020

New leveraged loan supply has started strong, despite geopolitical jitters leading to softness in the public markets, and it’s not just play-it-safe refi issues. Cision is marketing dual-currency acquisition debt for Platinum Equity’s takeover of the public relations technology firm, while Global University Systems is prepping a deal of nearly €1bn to fund a dividend. Also in the loan market are Ortho-Clinical Diagnostics and Refinitiv’s euro repricing, while Stena and Ashland have mandated potential bond deals.

Cision’s deal will be $1bn and €500m seven year term loan Bs, arranged by Bank of America, Credit Suisse, Goldman Sachs, Morgan Stanley, BMO, BNP Paribas, Citi, Macquarie and RBC, to support Platinum Equity’s $2.7bn buyout of Cision, which makes technology tools ...

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