The following excerpt is from bloomberg.com.
Blackstone Group Inc. is looking to sell $2.8 billion of debt for its buyout of Ancestry.com Inc. this holiday-shortened week, while just a handful of investment-grade borrowers are expected to come forward.
Marketing for Ancestry’s $1 billion high yield portion ends Monday, while commitments on its $1.8 billion leveraged loan are due the same day. Ancestry is the sole deal currently slated to price in high-yield, but it follows the busiest week for issuance in about two months with about $15.7 billion sold, according to data compiled by Bloomberg.
See the full article at the Bloomberg website.
There’s also some news about the Ancestry debt to be found at the pionline.com (Pensions & Investments) website. Following is a teaser:
Large bondholders of Ancestry.com Inc.’s first lien and senior notes issued in connection with its leveraged buyout by Blackstone Group will be disenfranchised because of the addition of a voting cap, according to a report from Xtract Research, a firm that analyzes the bond market