Business
Banks queue up to finance USD 14 bn buy of Thomson Reuters by Blackstone
Bank of America Merrill Lynch, Citigroup and JP Morgan are leading the financing and are talking to other banks including Barclays, Deutsche Bank, Goldman Sachs, HSBC and RBC about joining the deal shortly, the sources said.
The large deal is attracting interest from banks vying for roles on the lucrative underwritten leveraged loan and high yield bond financing.
New lenders are being offered fees to underwrite 28% of the transaction, which will reduce the risk of the three arranging banks, the sources said.
Appointments will be partly based on how much business the banks do with Thomson Reuters, they added.
Once the bank group is complete, the highly anticipated USD 14 bn financing is expected to launch for wider syndication to institutional investors in March, the sources said.
Blackstone and Thomson Reuters declined to comment.
Every man and his dog is pitching to get in on the action
, a loan syndicate head said.The large deal is attracting interest from banks vying for roles on the lucrative underwritten leveraged loan and high yield bond financing.
New lenders are being offered fees to underwrite 28% of the transaction, which will reduce the risk of the three arranging banks, the sources said.
Appointments will be partly based on how much business the banks do with Thomson Reuters, they added.
Once the bank group is complete, the highly anticipated USD 14 bn financing is expected to launch for wider syndication to institutional investors in March, the sources said.
Blackstone and Thomson Reuters declined to comment.
