Jakema Lewis

1 week ago | pitchbook.com | John Atkins |Jakema Lewis

X.AI Corp. has set the amounts for its $5 billion three-part financing at $1 billion each for five-year floating- and fixed-rate term loans, and $3 billion of five-year (non-call two) senior secured bonds, according to market sources. After documentation changes to the offering, books are slated to close on June 20 at 1 p.m. EDT. Price talk was revised wider.

2 weeks ago | pitchbook.com | Jakema Lewis

Price guidance has emerged for X.AI Corp.’s $5 billion three-part deal, which comprises fixed- and floating-rate debt, according to market sources. The included term loan B tranche is talked at S+700 and an OID of 97, and the fixed-rate term loan is talked in the 12% area. Initial price thoughts for the accompanying senior secured notes also indicate a potential yield in the 12% area. Each tranche will sport a five-year tenor. Morgan Stanley is lead left for the offering.

Nov 13, 2024 | pitchbook.com | Jakema Lewis |John Atkins |John Adams wrote

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Apr 5, 2024 | pitchbook.com | Jakema Lewis

High-yield issuers continued to take advantage of firm markets in March, mostly to chip away at upcoming maturities, even as Treasury rates drifted higher amid equivocal signals from the Fed. New-issue volume was $27.6 billion, a three-year high for March issuance, according toLCD data. The $85.2 billion of issuance in the entire first quarter was a 110% increase from the first quarter of 2023. Bond issuance ticked up slightly from February’s $26.5 billion total.

Jan 18, 2024 | pitchbook.com | Jakema Lewis

Acrisure LLC today placed a $925 million offering of 8.25% five-year (non-call two) senior notes due Feb. 1, 2029 at par, according to market sources. Initial price thoughts for the JP Morgan-led deal were floated with a mid-8% yield. Proceeds of today’s market tap will be used to redeem in full the company’s 7% senior notes due Nov. 15, 2025, as well as pay the premiums and accrued interest to the redemption date.