Serco draws existing debt for $295m WBB buy as transatlantic M&A heats up

By Mike Turner
16 Feb 2021

Serco, the UK outsourcing company, has agreed to buy US defence company Whitney, Bradley & Brown for $295m, amid heightened expectations of transatlantic acquisitions this year.

Serco plans to fund the acquisition through existing debt facilities. With corporate cash piles almost at record levels, corporate bankers expect more M&A to be funded by existing facilities.

“We’re expecting volumes to be lower this year,” said a London-based loans banker. “Clients that are in a more stable ...

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