M&A Bankers Saying No to More Junk
Banks collected a record $5.4 billion in fees from buyout loans in 2015, according to consultancy Freeman & Co. Banks still have tens of billions of dollars of debt to sell for announced takeovers, such as Western Digital Corp.'s $19 billion purchase of SanDisk Corp. and Dell Inc.'s $6...
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Published in | Dow Jones DBR High Yield |
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Main Authors | , , , |
Format | Trade Publication Article |
Language | English |
Published |
New York
Dow Jones & Company Inc
21.03.2016
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Subjects | |
Online Access | Get full text |
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Summary: | Banks collected a record $5.4 billion in fees from buyout loans in 2015, according to consultancy Freeman & Co. Banks still have tens of billions of dollars of debt to sell for announced takeovers, such as Western Digital Corp.'s $19 billion purchase of SanDisk Corp. and Dell Inc.'s $67 billion buyout of EMC Corp. In November, a group including Bank of America Corp., Morgan Stanley, UBS Group AG and Jefferies struggled to sell about $5 billion of loans and bonds they had guaranteed for Carlyle Group LP's $8 billion buyout of Symantec Corp.'s Veritas data-storage unit, according to people familiar with the matter.\n |
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