- Apollo Global Management will favor aircraft financing over high yield bonds for a £3.5 billion debt package backing its acquisition of EasyJet Plc.
- Barclays, Credit Agricole, Citibank, Standard Chartered Bank and Lloyds initially provided an underwritten bridge financing to back the buyout.
- The interim bridge financing comprises a £3.5 billion senior secured note bridge facility and a £1.3 billion revolving credit facility.
Quotes
“Apollo Global Management is set to opt for aircraft financing rather than high yield bonds for a £3.5 billion debt package backing its acquisition of low-cost carrier EasyJet Plc.”
“Barclays, Credit Agricole, Citibank, Standard Chartered Bank and Lloyds initially provided an underwritten bridge financing to back the buyout.”
“A number of other banks subsequently participated in the interim bridge financing, which comprises a £3.5 billion ($4.6 billion) senior secured note bridge facility and a £1.3 billion revolving credit facility.”