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.
Palisade Aviation Holdings Warehouse, Ltd. and Palisade Aviation Holdings Warehouse, LLC, which were jointly established by Griffin Global Asset Management and Bain Capital Credit, closed a $1 billion senior secured warehouse facility with Goldman Sachs as the structuring agent.
Platinum Equity entered into a definitive agreement to acquire Club Car from Ingersoll Rand in a transaction valued at approximately $1.7 billion. BofA Securities will lead the debt financing for Platinum Equity and Club Car in connection with the transaction.
BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more than $6 billion.
Magnite reached an agreement in principle on pricing and syndication for a seven-year, $360 million senior secured term loan B and a five-year, $52.5 million senior secured revolving credit facility. Goldman Sachs led both facilities.
A subsidiary of Ares Management entered into a definitive agreement with a subsidiary of BrightSphere Investment Group and Landmark Investment Holdings to acquire 100% of Landmark Partners. The transaction is valued at $1.08 billion.
JPMorgan Chase Bank, Morgan Stanley Senior Funding, Goldman Sachs, UBS Investment Bank, Bank of America, Barclays and Jefferies are arranging debt financing in support of Clearlake Capital Group’s new equity investment in RSA Security.
RSA Security announced a significant new equity investment from Clearlake Capital Group. JPMorgan Chase, Morgan Stanley Senior Funding, Goldman Sachs, UBS Investment Bank, Bank of America, Barclays and Jefferies are arranging the debt financing for the transaction.
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.
CIBC joined RMI’s Center for Climate-Aligned Finance as a strategic partner. According to CIBC, it is the first Canadian bank to partner with the center’s efforts to align financial decision-making with the long-term decarbonization of the real economy.