Hillenbrand Deal Adds to M&A Debt Wave in Junk Loan Market

Hillenbrand Inc.’s $1.8 billion leveraged loan buyout financing deal kicked off on Friday, joining the surge of M&A-related activity hitting the junk-rated debt market this year.

Banks led by Bank of America Corp. and UBS Group AG launched the loan sale for the industrial equipment maker, part of what is expected to be a larger $3.1 billion financing package that includes bonds.