Refinitiv readies launch of $8.75 billion equivalent credit facilities

By Sara Rosenberg

New York, Aug. 21 – Refinitiv is anticipated to bring its $8.75 billion equivalent of credit facilities to market in September, with some sources hearing that the bank meeting may take place on Sept. 5.

The facilities consist of a $750 million revolver and $8 billion of secured term loans, of which up to $2.5 billion could be in euros, sources said.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are the lead banks on the deal.

Proceeds will be used to help fund the acquisition of a 55% stake in Thomson Reuters’ Financial & Risk business by Blackstone, Canada Pension Plan Investment Board and GIC.

Other funds for the transaction will come from $5.5 billion equivalent in notes.

Thomson Reuters will retain a 45% equity stake in the company.

The company has an overall valuation of $20 billion.

Closing is expected in the second half of this year.

Refinitiv is a data and financial technology platform.

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