Twitter LinkedIn
    Tuesday, February 7
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals»Verizon Media Marketing $1.5 Billion of Loans to Fund Apollo LBO
    Deals

    Verizon Media Marketing $1.5 Billion of Loans to Fund Apollo LBO

    June 30, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Verizon Communications Inc.’s media division is tapping the U.S. leveraged loan market to fund its $5 billion leveraged buyout by Apollo Global Management Inc.

    The two new loans, which have a tenor of six years, are sized at $750 million apiece, according to a person with knowledge of the matter. One portion is a so-called “high-yield style term loan B” that isn’t callable for two years and has no amortization, said the person, who asked not to be identified because the deal is private.

    Verizon Media, which is comprised of brands including Yahoo and AOL, is borrowing at a time when other LBO-backing loans are also in the market. Two U.S. bus divisions owned by FirstGroup Plc are raising about $2 billion to finance private equity firm EQT AB’s acquisition of the units while EmployBridge LLC, also being acquired by Apollo, is also offering a term-loan B.

    Read More

    Source: Bloomberg

    By Jeannine Amodeo and Allan Lopez

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Deal PE Insider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    EQT Infrastructure acquires Madison Energy Investments

    December 22, 2022

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    Recent Rule Changes Spark New Wave of Private Equity Ownership in Pro Sports

    November 29, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    Comments are closed.

    Other Articles

    TeamViewer acquires U.S. augmented reality software firm Upskill

    March 3, 2021

    Goldman-backed SPAC to take Mirion Tech public in $2.6 bln deal

    June 17, 2021

    Sequoia raises $195 million for second seed fund to back entrepreneurs in India and Southeast Asia

    March 25, 2021

    European life sciences investor Sofinnova Partners raises $548m

    October 25, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?