Banks Ready to Forget Pain of Hung Debt Go Big on Buyout Funding [BNN Bloomberg (Canada)]
GRIFOLS SA S/ADR (GIKLY)
NASDAQ:AMEX Investor Relations:
grifols.com/en/web/international/investor-relations/home-page
Company Research
Source: BNN Bloomberg
Some investment bankers are ready to underwrite as much of 100% of the debt for European leveraged buyouts. One hotly contested deal, the €9.5 billion ($10.6 billion) financing for the buyout of Grifols SA, elicited an offer by a single bank for all the cash upfront, according to people with knowledge of the bids. Terms on offer have been so generous at times that even private equity sponsors are asking whether banks are being too optimistic about the prospects for selling the debt on to other parties, a scenario that would drive up financing costs on future deals. Uppermost in people's memories are buyouts such as Elon Musk's purchase of Twitter Inc., now X, which saddled a Morgan Stanley-led group with $12.5 billion of unwanted loans. Undaunted, large banks are once again making aggressive moves. “We are seeing intense competition among investment banks to lead on these material fee-event processes,” said Jeremy Duffy, partner and head of EMEA bank lending team at White & C
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News
- Grifols' Board Rejects Brookfield's Buyout Offer, Stock Down 8% [Yahoo! Finance]Yahoo! Finance
- Grifols Signals It Would Reject $6.8 Billion Brookfield Bid [BNN Bloomberg (Canada)]BNN Bloomberg
- Grifols Board Issues Unfavorable Opinion on Brookfield Offer [Yahoo! Finance]Yahoo! Finance
- Grifols: Brookfields potential $6.8 billion offer undervalues the firm [Yahoo! Finance Canada]Yahoo! Finance Canada
- Brookfield Weighs €6.45 Billion Bid for Grifols; Shares Drop [BNN Bloomberg (Canada)]BNN Bloomberg