Dell upsizes buyout loan to US$7.1 billion -sources
NEW YORK, Sept 23 (IFR) - The loan backing the management buyout of Dell Inc has been increased to US$7.1 billion, while the size of the 1st lien high-yield bond has been reduced by US$500 million to US$1.5 billion, market sources said on Monday.
The bond will price later today at 5.625%, in the middle of the price talk announced on Friday at 5.5%-5.75%.
US$150 million of additional cash generated since the quarter end will be used in the transaction, the sources said.
Credit Suisse, Barclays, Bank of America Merrill Lynch, RBC and UBS are leading the deal.