Capital One to Acquire Discover for $35.3B
Capital One Financial and Discover Financial Services entered into a definitive agreement under which Capital One will acquire Discover in an all-stock transaction valued at $35.3 billion.
Capital One Financial and Discover Financial Services entered into a definitive agreement under which Capital One will acquire Discover in an all-stock transaction valued at $35.3 billion.
Dave & Buster’s Entertainment amended its credit agreement, achieving a reduction in the interest rate margin applicable to its term loans and revolving loans. A banking syndicate including Deutsche Bank Securities acted as joint lead arrangers for the transaction.
Pebblebrook Hotel Trust extended approximately $357 million of its $460 million October 2024 maturity term loan to 2028. BofA Securities led the term loan extension, serving as joint lead arranger and sole bookrunner.
Brookdale Senior Living, an operator of senior living communities, completed two financing transactions that refinanced all of its remaining 2024 debt maturities, including a $20 million increase to its revolving credit agreement with Capital One.
Grindr completed a refinancing via a new $300 million term loan A facility and a $50 million revolving credit facility. The joint lead arrangers of the transaction are J.P. Morgan, Bank of America, Citizens Bank and Silicon Valley Bank, a division of First Citizens Bank.
Summit Hotel Properties’ joint venture with GIC, Singapore’s sovereign wealth fund, has successfully completed the refinancing of its $200 million senior credit facility.
Dave & Buster’s Entertainment, an owner and operator of entertainment and dining venues, amended its credit agreement, achieving favorable pricing and upsizing the term loan B facility to $900 million.
Cleveland-Cliffs amended and extended its asset-based lending credit facility. The amendment extends the maturity date of the facility to June 9, 2028, and transitions the benchmark interest rate from LIBOR to SOFR. BofA Securities served as lead arranger for the ABL facility.
EquipmentShare increased its borrowing capacity from $2.1 billion to $3 billion through a senior secured asset-based revolving credit facility with Capital One and closed its debut offering of $640 million of senior secured notes.
GPM Petroleum, a subsidiary of convenience store operator ARKO Corp., renewed and extended its revolving credit facility with a syndicate of banks led by Capital One. The credit line was increased by $300 million to $800 million.