Goldman Backs Almaviva's Buyout of Iteris With €350 Million Debt [BNN Bloomberg (Canada)]
Iteris, Inc. (ITI)
NASDAQ:AMEX Investor Relations:
iterisinc.gcs-web.com/investor-relations
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Source: BNN Bloomberg
The debt is in the form of a bridge loan that will ultimately be taken out by high-yield bonds, the people said, declining to be identified because the information is private. Almaviva agreed to acquire Iteris last month in a transaction which valued the company at around $335 million. Traditional lenders are very much looking to fund leveraged transactions, with a number of underwrites set to come to the market in the next few weeks. They include a €1.7 billion debt financing for KPS Capital Partners' purchase of Innomotics, which is likely to be pitched to investors this month. With US interest rates seen falling, banks are more confident they can underwrite deals and sell the debt on via the syndicated market. Goldman's move to provide the entire financing for the Almaviva underwrite is also a sign of banks' willingness to add risk to their balance sheets in light of still-moribund dealflow. Goldman Sachs and Almaviva did not immediately respond to requests for comment. The
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ITI
News
- Lifshitz Law PLLC Announces Investigations of ITI, VGR, CNOB, and AGAccesswire
- Iteris, Inc. (NASDAQ: ITI) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ITI, TTNP, FRZA on Behalf of ShareholdersGlobeNewswire
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ITI, FRZA, TTNP on Behalf of ShareholdersPR Newswire
- ITI Stock Alert: Halper Sadeh LLC is Investigating Whether the Sale of Iteris, Inc. is Fair to ShareholdersBusiness Wire
ITI
Earnings
- 8/8/24 - Beat
ITI
Sec Filings
- 9/20/24 - Form DEFM14A
- 9/10/24 - Form 4
- 9/9/24 - Form 144
- ITI's page on the SEC website