Foxtel M&A Loan Banks Mull Boosting Margin to Lure Investors
Banks on a loan backing UK streaming platform DAZN Group Ltd. 's takeover of Australian pay-television company Foxtel Management Ltd. are considering lifting the debt's interest margin to draw interest from institutional lenders, according to people familiar with the matter.
The underwriters of a A$1.8 billion ($1.1 billion) acquisition loan are seeking to raise the margin on a A$600 million five-year tranche by 75 basis points to 500 basis points over the benchmark Bank Bill Swap Bid Rate, said the people familiar, who asked not to be named discussing private matters. Private credit players are among the institutional investors that the banks are hoping to attract, the people added.
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