Carlson seeks $360m PIK toggle bond for acquisition

railway trains 230X150
By Olivier Holmey
25 Jun 2014

Carlson, the US hospitality and travel company, wants to raise $360m to partially finance the acquisition of the 45% stake JP Morgan holds in Carlson Wagonlit Travel.

After the takeover, Carlson will own 100% of CWT. The deal is backed by five year non-call one senior payment-in-kind toggle notes due in 2019.

Morgan Stanley and JP Morgan are bookrunners on the financing.


“We are pleased with the momentum, growth and results realised by the management team ...

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