Clayton, Dubilier & Rice closed an agreement with HD Supply Holding to acquire its Waterworks business unit for $2.5 billion. Through a carve-out transaction, Waterworks will become an independent company, wholly-owned by CD&R funds.
Royal Philips signed an agreement with a consortium of 16 banks for a new €1 billion ($1.09 billion) revolving credit facility with an interest rate that will be dependent on the company’s year-on-year sustainability performance improvement.
Millicom International Cellular entered into a five-year $600 million revolving credit facility with a group of international and regional banks.
Och-Ziff Loan Management closed nearly $1 billion in collateralized loan obligations, including a $409 million CLO arranged by Bank of America Merrill Lynch and the refinancing of a $583 million CLO placed by Citi.
Citi appointed Kevin Lam as Asia Pacific business development head between Citi’s Private Bank and Citi’s Corporate and Investment Bank, in addition to being COO of Hong Kong Corporate and Investment Banking.
Symantec is acquiring LifeLock in a deal valued at $2.3 billion. The company will finance the transaction with cash and $750 million of new debt. Bank of America, Barclays, Citi, J.P. Morgan, Merrill Lynch and Wells Fargo provided debt financing commitments.
Citi has lent more than $10 billion to U.S. small businesses in 2015. Over the past five years, Citi has lent small businesses in the U.S. a total of $46 billion.
Beacon Roofing Supply announced it will acquire Roofing Supply Group in a transaction valued at $1.1 billion. Citi and Wells Fargo were said to acting as joint lead arrangers on the debt financing.