More banks joining $14 bln debt for Blackstone's TR unit buy: Reuters
More banks are poised to join a US$14 billion financing backing U.S. private equity firm Blackstone Group’s acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp, banking sources told Reuters. 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 and RBC about joining the deal shortly. “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. Blackstone will acquire a 55 percent stake in the F&R business in a deal valued at US$20 billion, with Thomson Reuters, controlled by Canada’s Thomson family, retaining a 45 percent holding.
