McAfee Corp. came forward with a $3.3 billion two-part bond deal on Monday to help finance its leveraged buyout by a group of private equity firms, according to people with knowledge of the matter.
The cybersecurity software maker is selling $1 billion of seven-year secured notes and $2.32 billion eight-year unsecured bonds, the people said, asking not to be identified discussing a private transaction.
A group of private equity firms led by Advent International Corp. and Permira Advisers are buying McAfee in a deal valued at more than $14 billion, including debt. McAfee is also marketing a cross-border leveraged loan as part of the transaction, comprised of a $4.41 billion tranche and a $1.25 billion-equivalent euro portion. Commitments are due on Wednesday.
Covis Pharmaceuticals Inc. added a number of sweeteners to a $900 million junk-debt sale, the latest borrower to struggle to attract demand from investors. The company, owned by Apollo Global Management Inc., on Monday cut the size of one portion of the bond offering to $350 million euros equivalent from $375 million, and scrapped the dollar bonds in favor of an increased $550 million term loan.
Read more: BNN Bloomberg
