Goldman Sachs Archives - Page 2 of 31

Bank of America Amends and Extends Cleveland-Cliffs’ ABL Facility

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.

Barclays Leads Expansion of ProPetro’s ABL Facility to $225MM

ProPetro extended its existing asset-based loan facility to a new five-year term and expanded its commitments from $150 million to $225 million. Barclays will continue to serve as the agent of the amended ABL along with other participants, including JPMorgan Chase, Bank of America and Goldman Sachs.

Blackstone Completes Acquisition of Copeland, Formerly Emerson Climate Technologies

Blackstone completed the acquisition of a majority stake in Emerson’s climate technologies business in a transaction valuing the business at $14 billion. The new standalone business will be named Copeland.

Fortress Management and Mubadala to Acquire Fortress Investment Group

Fortress Investment Group and Mubadala Investment Company, through its wholly-owned asset management subsidiary, Mubadala Capital, entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group, who have been the owners of Fortress since 2017.

Sycamore Tree Capital Partners Closes Third CLO Totaling $401MM

Sycamore Tree Capital Partners, a specialist asset manager with private and alternative credit investment expertise, closed STCP CLO 2023-3, the firm’s third collateralized loan obligation since inception and the firm’s second CLO in 2023.

April 17, 2023 Dechert | Goldman Sachs | Sycamore Tree Capital Partners | Trey Parker Ian Koplin

Assured Investment Management Combines with Sound Point Capital Management

Assured Guaranty entered into an agreement with Sound Point Capital Management pursuant to which Assured Guaranty will contribute its entire equity interest in Assured Investment Management and, with certain exceptions, its related asset management entities to Sound Point.

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank.

Apollo-Led Investor Group Acquires Atlas Air Worldwide

Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services, and the investor group led by funds managed by affiliates of Apollo, together with investment affiliates of J.F. Lehman & Company and Hill City Capital, completed its acquisition of Atlas Air Worldwide.

CPP Investments and Silver Lake Acquire Qualtrics for $12.5B

Qualtrics, a provider of experience management (XM) software, entered into a definitive agreement to be acquired by Silver Lake, a technology investor, in partnership with Canada Pension Plan Investment Board (CPP Investments), in an all-cash transaction that values Qualtrics at approximately $12.5 billion.

Sumitovant Biopharma Completes Acquisition of Myovant Sciences

Sumitovant Biopharma completed its acquisition of Myovant Sciences originally announced Oct. 23, 2022. Sumitovant has acquired all outstanding shares of Myovant not already owned by Sumitovant in an all-cash deal with a total transaction value of approximately $1.7 billion.

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