First Eagle Investments seeks $575 million junk-bond sale
Updated
Updated · Bloomberg · May 4
First Eagle Investments seeks $575 million junk-bond sale
1 articles · Updated · Bloomberg · May 4
The Genstar Capital-backed firm plans to use the high-yield debt to help finance its acquisition of boutique asset manager Diamond Hill Investment Group.
The notes will mature in 2032 and are expected to be priced later this week, according to a person with direct knowledge of the matter.
An investor call is scheduled for Monday at 10:30 a.m. Eastern Time as First Eagle advances financing for the takeover.
First Eagle's debt-fueled buyout is complete. Will this high-yield financing set a new precedent for asset manager M&A deals?
As First Eagle sells high-yield debt, should its own fund clients worry about the firm's increasing leverage and risk profile?