Banks are planning to kick off the sale of a portion of the $6 billion debt package backing Apollo Global Management Inc.’s planned takeover of Tenneco Inc., according to people familiar with the matter, despite lenders racking up big losses when syndicating recent deals.
The banks underwriting Tenneco’s debt sale, including Citigroup Inc. and Bank of America Corp., are likely to market some secured bonds to investors this week while waiting to sell the remaining committed debt at a later date, according to the people familiar.
Source link
