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Stock impact report

Carlyle, KKR Win Discover's $10 Billion Student-Loan Portfolio [BNN Bloomberg (Canada)]

BlackRock, Inc. (BLK) 
Last blackrock, inc. earnings: 4/16 06:02 am Check Earnings Report
US:NYSE Investor Relations: ir.blackrock.com
Company Research Source: BNN Bloomberg
The private equity firms made a 50-50 bid, said the people, who asked not to be identified because the details haven't been announced publicly. Spokespeople for Carlyle, KKR and Discover declined to comment. The bid beat a competing offer from Sixth Street, BlackRock Inc. and the Canada Pension Plan Investment Board, with the loan book selling above par, according to the Financial Times, which reported on the transaction earlier Wednesday. Discover had been looking for a buyer for the business since last year and said that it would stop accepting student-loan applications in February. The deal is a victory for Carlyle as it seeks to be a bigger player in asset-backed finance, and it's the largest deal ever for the team focused on that corner of credit. Its credit arm has taken stakes in solar financing provider Sungage Financial and student-lending solutions platform Monogram — deals that Carlyle expects will help make it easier for the Washington-based firm to originate loans ba Show less Read more
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