Barclays (BCS) is preparing to sell about $875 million of debt financing to support Blackstone (BX) and Tinicum's acquisition of UK aerospace supplier Senior, Bloomberg reported Thursday, citing unnamed sources familiar with the matter.
The financing includes a $685 million senior secured term loan, a $190 million term loan, and a $150 million revolving credit facility, the report said. Barclays is leading the bank group arranging the debt, it added.
Senior agreed in April to a takeover offer from the consortium that valued the company at about 1.4 billion British Pounds ($1.9 billion), it said. The deal is expected to be marketed to institutional investors in the coming weeks, it added.
Barclays and Blackstone did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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