Apollo Global Management entered into an agreement to acquire Verizon Media from Verizon for $5 billion. Verizon will retain a 10% stake in the company, which will be known as Yahoo at close of the transaction and continue to be led by Guru Gowrappan as CEO.
BMO Financial Group amended an existing credit facility for Gibson Energy that introduces a margin adjustment incentive mechanism tied to Gibson’s commitment to reduce carbon emissions and increase the representation of women as well as racial and ethnic minority representation in its workforce and on its board.
BMO Capital Markets and BofA Securities amended Jones Lang LaSalle’s $2.75 billion bank credit facility with a new five-year term that extends the maturity from May 2023 to April 2026. In addition, the facility includes incentives linked to achieving certain sustainability goals.
Yesway, a convenience store chain in the United States, completed the refinancing of its term loan and revolving credit facilities in the amount of $410 million and $125 million, respectively. JPMorgan Chase Bank acted as the lead arranger and lead bookrunner for the facilities.
WEX, a financial technology service provider, amended and restated its credit facility. The lenders agreed to a restatement agreement that increases commitments under WEX’s revolving credit facility from $870 million to $930 million.
Annaly Capital Management entered into a definitive agreement to sell its commercial real estate business to Slate Asset Management, a global investment and asset management firm focused on real estate. The transaction is valued at $2.33.
Digi International entered into an amended and restated credit agreement with BMO Harris Bank as administrative agent and collateral agent. The new facility provides Digi with a $200 million senior secured revolving credit facility with an option to increase the size of the facility by $75 million.
A syndicate of banks including Goldman Sachs acted as joint bookrunners and joint lead arrangers in connection with a new term loan B facility of $500 million as part of Harsco’s amendment to its senior secured credit agreement.
Just Energy Group received creditor protection from the Ontario Superior Court of Justice and is seeking similar protection under Chapter 15 of the U.S. Bankruptcy Code. Just Energy also reached an agreement for a $125 million DIP financing.
Abacus Finance Group promoted Joseph Lee from senior associate to vice president and Jacob Wise and Austin Rendell from analysts to associates.