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Goldman Sachs tops media debt rankings with Amazon, other offerings


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Goldman Sachs tops media debt rankings with Amazon, other offerings Inc.'s multi-part private offering of senior unsecured notes sold to fund its $13.7 billion purchase of Whole Foods during the third quarter helped Goldman Sachs & Co. LLC maintain its position at the top of media, entertainment and new media debt offering advisers, according to S&P Global Market Intelligence data.

The Whole Foods deal closed in August, not long after Amazon announced and priced its debt offering. Goldman Sachs acted as joint book-running manager on the debt transaction. Year-to-date as of Sept. 30, Goldman Sachs recorded $17.18 billion in total deal credit from 61 offerings.

Bank of America Merrill Lynch and J.P. Morgan Securities LLC also benefited from Amazon's debt offering. The year-to-date debt deal credits for those firms totaled $14.39 billion and $14.28 billion, respectively, putting them in second and third place for debt advisers in the media and new media sectors.

Debt was once again the most popular type of offering completed by media, entertainment and new media companies in the third quarter, with 27 total debt offerings with a net value of $33.03 billion in the period ended Sept. 30. That brought the year-to-date totals for the debt offering category to 85 debt transactions with a net value of $89.47 billion.

Goldman Sachs also emerged as the top media common equity adviser with a deal credit of $1.72 billion from five common equity offerings year to date as of Sept. 30. The company benefited from being the sole book-running manager for Liberty Media Corp.'s $661.9 million in the series C Liberty Formula One common stock offering Sept. 19. The year as of Sept. 30 saw 24 common equity offerings in the sector worth an aggregate $9.35 billion, including five offerings worth $1.20 billion recorded in the third quarter.

There were no initial public offerings for the sector in the third quarter, and Snap Inc.'s IPO in the first quarter remained the sole media IPO filed during the year.

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