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Article: Few Investors to Ride Busch's TLB.(News)
- Article from:
- High Yield Report
- Article date:
- November 2, 2009
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Byline: Richard Kellerhals
A $1 billion term loan B to help finance Blackstone Group's acquisition of Anheuser-Busch InBev's U.S. theme parks is being shopped to a small group of investors, an unusual occurrence for a loan this size as banks typically need broad syndication to garner enough funds.
The banks-Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, Barclays and Mizuho-are planning to launch the deal today or Friday. Price talk is at Libor plus 350, with an OID of 98.5 and a 2.25% Libor floor.
Blackstone and its affiliates have put up between $350 million and $400 million of the $1 billion needed, sources said.
"The ...