Massive cost cuts in focus as buyside mulls Refinitiv bond: Reuters
Millions in projected cost-savings at Refinitiv will be a key consideration for investors mulling the US$13.5 billion-equivalent loan and high-yield bond sale financing the buyout of the business, Reuters reported, citing a note from CreditSights. Blackstone Group agreed to buy a 55 percent stake in Thomson Reuters’ Financial & Risk division, which has been renamed Refinitiv, in January. CreditSights said one of the factors investors will consider is the US$650 million in run-rate cost savings expected to be made in the first couple of years, and how realistic that target is. Blackstone’s track record and its success in cutting costs at other companies it owns will be important.
10 September 2018•4 mins read
