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
- Iteris Completes Transaction with Almaviva [Yahoo! Finance]Yahoo! Finance
- Iteris, Inc. (NASDAQ: ITI) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Iteris Stockholders Approve Merger Agreement with Almaviva [Yahoo! Finance]Yahoo! Finance
- Iteris Stockholders Approve Merger Agreement with AlmavivaBusiness Wire
- Iteris, Inc. (NASDAQ: ITI) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
ITI
Earnings
- 8/8/24 - Beat
ITI
Sec Filings
- 11/1/24 - Form 4
- 11/1/24 - Form 4
- 11/1/24 - Form 4
- ITI's page on the SEC website