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1 week ago | 
news.bloombergtax.com | Gowri Gurumurthy |Jeannine Amodeo |Aaron Weinman
Lenders are now saddled with $2.2 billion in debt for an acquisition linked to a Canadian auto parts company, the first time Wall Street has been on the hook for a big financing package since the Trump administration triggered a global trade war less than two weeks ago. Typically, when a merger or acquisition is announced the companies involved immediately line up debt from banks, which then market it to investors in the leveraged loan and high-yield bond markets.
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1 week ago | 
news.bloomberglaw.com | Gowri Gurumurthy |Jeannine Amodeo |Aaron Weinman
Lenders are now saddled with $2.2 billion in debt for an acquisition linked to a Canadian auto parts company, the first time Wall Street has been on the hook for a big financing package since the Trump administration triggered a global trade war less than two weeks ago. Typically, when a merger or acquisition is announced the companies involved immediately line up debt from banks, which then market it to investors in the leveraged loan and high-yield bond markets.
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1 week ago | 
bloomberg.com | Gowri Gurumurthy |Jeannine Amodeo |Aaron Weinman
Pedestrians outside of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, Jan. 28, 2025. Ever since the global financial crisis, in an attempt to align pay to shareholder returns, banks have relied more heavily on restricted stock units when they’re handing out bonuses.
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1 week ago | 
news.bloomberglaw.com | Gowri Gurumurthy |Jeannine Amodeo |Aaron Weinman
A group of banks led by JPMorgan Chase & Co. and Citigroup Inc. will use their own balance sheets to fund roughly $2.2 billion in debt to support car parts maker ABC Technologies Holdings Inc.’s acquisition of TI Fluid Systems Plc, according to people familiar with the matter. The Apollo Global Management Inc.-backed ABC closed the purchase of the auto supplier for an enterprise value of over £1.8 billion ($2.4 billion) on Tuesday, according to a statement.
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3 weeks ago | 
bloomberg.com | Gowri Gurumurthy |Reshmi Basu
Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For Customers Bloomberg Anywhere Remote Login Software Updates Manage Products and Account Information Support Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Company About Careers Inclusion at Bloomberg Tech at Bloomberg Philanthropy Sustainability Bloomberg London...
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3 weeks ago | 
news.bloomberglaw.com | Gowri Gurumurthy |Aaron Weinman |Rachel Graf
A group of banks including Citigroup Inc. and JPMorgan Chase & Co. may be forced to self-fund a debt package to finance Canadian auto parts maker ABC Technologies Holdings Inc.’s purchase of TI Fluid Systems Plc as the lenders near an April 15 deadline to close the acquisition.
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3 weeks ago | 
bloomberg.com | Gowri Gurumurthy |Aaron Weinman |Rachel Graf
Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For Customers Bloomberg Anywhere Remote Login Software Updates Manage Products and Account Information Support Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Company About Careers Inclusion at Bloomberg Tech at Bloomberg Philanthropy Sustainability Bloomberg London...
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3 weeks ago | 
bnnbloomberg.ca | Aaron Weinman |Gowri Gurumurthy
Chuck E. Cheese owner CEC Entertainment is struggling to drum up enough demand for a $660 million high-yield bond sale to refinance debt it has due next year, according to people familiar with the transaction. JPMorgan Chase & Co. and Goldman Sachs Group Inc., the banks leading the deal, had not obtained sufficient orders from investors, and were straining to price the bond ahead of a Friday afternoon deadline, said the people, who asked not to be identified discussing private information.
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3 weeks ago | 
bloomberg.com | Aaron Weinman |Gowri Gurumurthy
Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world For Customers Bloomberg Anywhere Remote Login Software Updates Manage Products and Account Information Support Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Company About Careers Inclusion at Bloomberg Tech at Bloomberg Philanthropy Sustainability Bloomberg London...
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3 weeks ago | 
news.bloomberglaw.com | Eleanor Duncan |Gowri Gurumurthy |Abhinav Ramnarayan
French auto supplier Forvia SE hiked the yield on its debut US dollar junk bond offering following US President Donald Trump’s decision to slap tariffs on auto imports to the country. The company increased the rate to a final yield and coupon of 8%, up from its initial marketing levels of about 7.75% area, according to a person familiar with the matter. Citigroup led the deal. Spokespeople for Forvia and Citigroup didn’t immediately respond to requests for comment.
