4 Merger and Acquisitions Stock Stories After a Big M&A Weekend
Verizon Communications Inc. (NYSE:VZ): Current price $46.01
According to banking sources, Verizon has begun the syndication of the $61-billion bridge loan backing its $130-billion buyout of Vodafone Group’s part of its domestic wireless business. The sources added that some of the loan might actually be drawn upon because of its colossal size.
The 364-day billion bridge loan will be refinanced with a permanent capital structure comprised of $49 billion of corporate bonds and $14 billion of loans, said sources to Thomson Reuters. The loans will include a $2 billion revolving credit together with $12 billion of term loans. The huge bridge loan is being regarded by several banks as a rare chance to gain revenue from investment-grade lending.
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