(Bloomberg) -- Ceva Group Plc, the logistics company
owned by Leon Black's Apollo Management LP, will pay higher
interest costs to finance its $1.9 billion purchase of freight
transport company EGL Inc., according to a banker working on the
transaction.
Ceva, based Hoofddorp, Netherlands, will sell $400 million
of so-called second-lien notes that rank below senior debt for
repayment and pay higher interest rates to compensate, said the
banker, who declined to be identified because the deals aren't
completed. The sale of senior notes, which pay lower interest
costs, will be reduced to $1 billion, the banker said.
Read more at Bloomberg Bonds News
owned by Leon Black's Apollo Management LP, will pay higher
interest costs to finance its $1.9 billion purchase of freight
transport company EGL Inc., according to a banker working on the
transaction.
Ceva, based Hoofddorp, Netherlands, will sell $400 million
of so-called second-lien notes that rank below senior debt for
repayment and pay higher interest rates to compensate, said the
banker, who declined to be identified because the deals aren't
completed. The sale of senior notes, which pay lower interest
costs, will be reduced to $1 billion, the banker said.
Read more at Bloomberg Bonds News
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