Duff & Phelps plans new debt financing for buyout by consortium

By Sara Rosenberg

New York, Dec. 31 - Duff & Phelps Corp. received a debt financing commitment from Credit Suisse Securities (USA) LLC, Barclays Capital Inc. and RBC Capital Markets to help fund its purchase by the Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group, according to an 8-K filed with the Securities and Exchange Commission.

Other funds for the transaction will come from equity.

Under the agreement, Duff & Phelps is being acquired for $15.55 per share in cash in a transaction valued at about $665.5 million.

Closing is expected in the first half of 2013, subject to customary closing conditions including the receipt of stockholder and regulatory approvals.

There is a go shop period through Feb. 8.

Duff & Phelps is a New York-based financial advisory and investment banking firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.