Bloomberg reported that JPMorgan Chase, Bank of America and Wells Fargo are among eight large U.S. banks that had credit grades cut one level by Standard & Poor’s on the prospect that the U.S. government is less likely to provide aid in a crisis.
GE announced a final exchange ratio in connection with its offer to exchange GE common stock for Synchrony Financial common stock owned by GE. Goldman Sachs, J.P. Morgan Securities and others served as dealer managers for the exchange offer.
The New York Times reported that WeWork, a company that rents office space to freelancers and startups, is seeking a $750 million credit facility.
Dell and EMC said they have signed an agreement under which Dell and its owners will acquire EMC in a $67 billion transaction. Barclays, BofA Merrill, Credit Suisse, Deutsche Bank, Goldman Sachs and RBC Capital Markets are providing debt financing.
VWR secured a new senior secured credit facility consisting of a $910 million term loan A facility, a €460 million ($513.44 million) term loan B facility and a $250 million multi-currency revolving credit facility. Citibank served as administrative agent.
Waypoint Leasing, an independent global helicopter leasing company, closed on the private placement of $200 million of senior secured notes, representing Waypoint’s inaugural capital markets financing.
Charter Communications said its subsidiary, CCO Safari III, entered into amendments to secure $3.8 billion in term loans arranged by Merrill Lynch, Credit Suisse, Goldman Sachs, Deutsche and UBS Securities.
ABF Journal illustrator Jerry Gonzalez shares his take on a suit filed by the Boston Retirement System which accused 22 banks, including Bank of America, Merrill Lynch, Citigroup and Goldman Sachs Group of manipulating the market for U.S. Treasury securities.
SunEdison and West Street Infrastructure Partners III announced the formation of a new $1 billion warehouse investment vehicle, the WSIP Warehouse, to fund construction costs and to acquire operating assets.
Analysts at Goldman Sachs reportedly say the M&A cycle is at the beginning, and there’s “meaningful” growth ahead.