Fri 08/25/2023 16:18 PM
Early whispers are in the mid-70s for a senior unsecured note offering to take out the $1 billion bridge due 2029, which partly finances private equity firm Apollo’s purchase of car parts supplier Tenneco, with a coupon in the 11% area, according to a source close to the transaction.
Banks are aiming to reduce their holdings in the $1 billion unsecured bridge this fall after receiving reverse interest on the $1 billion unsecured bond from high-yield investors, the source said. Citibank...
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