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.
Equinix borrowed $1.053 billion of additional senior secured term B loans from a syndicate of lenders led by Bank of America serving as administrative agent, lender and L/C issuer.
Equinix agreed to purchase a portfolio of 24 data center sites and their operations from Verizon Communications for $3.6 billion. Bank of America agented a credit facility to support the acquisition.
Bloomberg reported that JPMorgan, BofA, Barclays and Morgan Stanley will finance the cash portion of Verizon’s acquisition of Vodafone Group’s 45% stake in Verizon Wireless for $130 billion.