Blackstone-Backed Ancestry.com Joins Risky Loan Refinancing Wave
Blackstone-backed Ancestry.com joined a wave of leveraged borrowers refinancing early, marketing a $1.75 billion term loan at 4-4.25 percentage points over the benchmark plus $500 million of junk notes, with Bank of America leading. Proceeds repay debt from Blackstone's $4.7 billion 2020 buyout, ahead of a 2028 maturity wall of more than $300 billion in US leveraged loans.
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