Bank of America and Deutsche Bank, serving as lead physical bookrunners, started investor calls on Wednesday and set a Sept. 22 deadline for commitments. They are joined as joint physical bookrunners by Banco Santander, Citigroup and JPMorgan, part of a broader group of roughly 13 banks that secured underwriting roles on the debt.
The financing is structured as seven-year leveraged loans across two currencies. The package comprises a US dollar term loan B equal to €1.6 billion and a separate euro-denominated term loan B of €1.2 billion. This is among the first sizable deals to hit after summer and is arriving as a growing wave of buyout financings worth more than $138 billion is poised to come to market across Europe and the US in the months ahead.
Big deals remind investors to prioritize steady strategies that protect and grow savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.
Platinum Equity acquired a 50% interest in Nestle's water business, now operating as Peranel and featuring brands like Perrier and S.Pellegrino. The sale forms part of a wider overhaul led by Chief Executive Officer Philipp Navratil; he took the helm a year ago and is focusing investment on key brands. During the sale process, some bidders hesitated over limits placed on how financing banks could access information, as well as Nestle's targeted valuation of about €5 billion. The water operations have had a tough run lately, pressured by softer demand and by probes and lawsuits tied to filtration and treatment practices on certain bottled products.
When businesses change hands, disciplined planning helps preserve capital and pursue growth. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.
