Deals
Blackstone Cuts Cost of Refinitiv Debt After Order Book Blowout
- $30 billion of orders for $13.5 billion of LBO bonds, loans
- Interest costs lowered on all but one tranche of debt on offer
This article is for subscribers only.
Pricing has been lowered on much of the $13.5 billion bond and loan financing backing Blackstone LP’s buyout of Thomson Reuters Corp. unit Refinitiv after investor orders grew to more than $30 billion.
The cost of funds have been cut on three of the four bond tranches, as well as on both of the loan facilities on offer, according to people familiar with the matter, who asked not to be identified because the matter is private. Changes to the debt package also include $1.25 billion shifted from the bonds to the loans, which now total $9.25 billion.