Anirban Sen and Shakar Ramacrisnan
New York (Reuters) – The Mars family giant is preparing for the sale of bonds worth between $ 25 and $ 30, as soon as the next week will help the financing of his pringles manufacturer Kellen, according to people who are familiar with the issue, in an agreement that will invest in the amount of $ 40 billion to finance bonds.
Banks led by Citigroup and JPMORGAN Chase are preparing to sell bonds to potential investors sometime next week, sources said, warning that the sale time of bonds is subject to market conditions and can change.
Depending on its final size, bond bids could be contained among the top 10 major M&A financing contracts in the investment market since 2013, according to the Global Markets information.
Separately, Synopsys design software manufacturer prepares to sell between $ 10-15 billion bonds to help finance his Ansys of $ 34 billion, two sources have been added. Bloomberg reported to Synopsys’ sale conversations earlier on Friday.
Two contracts in combination could result in an issue of about $ 40 billion next week, sources said, increasing the supply market for investment bonds already recorded by a flood of issuance launched by investors’ demand to lock in high for longer interest rates.
JPMORGAN and Citigroup refused to comment. Mars and Synopsys did not immediately respond to comment requests.
On Thursday, S&P Global Rattings reduced the credit rating of the publisher on Mrs on A+, noting that the company expects to fully fund its acquisition of Kellanova with a net debt.
“We do not anticipate that the company will restore influence on below 3x or maintain a discretioned cash flow (DCF) on debt significantly more than 10% to Fiscal 2027.
(Reporting Anirban Sen and Shakar Ramakrishnan in New York; Mounting Chizu Nomiyama)
