Brookfield Asset Management (BAM) is looking to raise around $3 billion in debt to finance the acquisition of Colonial Enterprises, Bloomberg reported Friday.
Morgan Stanley (MS) is reportedly leading the financing and a deal could emerge in the leveraged loan or bond market as soon as early June, the report said, citing people familiar with the matter.
Brookfield's Brookfield Infrastructure Partners (BIP) unit said in April it was to acquire Colonial Enterprises, which includes the Colonial Pipeline refined products system, under a deal valued at $9 billion. The transaction is expected to close in H2.
Brookfield Asset Management and Morgan Stanley did not immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 55.23, Change: -0.09, Percent Change: -0.17
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.