Strong start for leveraged market with mandate rush

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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