trending Market Intelligence /marketintelligence/en/news-insights/trending/IcA0ISTuogx78us8svj8ww2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

GIC, Silver Lake-led consortium to take $900M special dividend from

Gauging Supply Chain Risk In Volatile Times

Entertainment Promos Take Center Stage Amid Coronavirus Lockdowns

Internet Traffic Spikes By One Third In March

Medical IoT Technology in US Hospitals Helps to Reduce Costs and Improve Care

GIC, Silver Lake-led consortium to take $900M special dividend from

An investor consortium led by Singapore's sovereign wealth fund GIC Pte. Ltd. and private investor Silver Lake Management LLC is planning to get a special dividend of more than $900 million from, Bloomberg News reported.

The DNA analysis and family tree company is looking to issue a new $1.15 billion seven-year term loan and allocate close to $400 million of cash to finance its recapitalization, according to the report. The loan will also be used to make a distribution of about $910 million to shareholders and repay its debt of $600 million.

The company's owners, together with the consortium, are seeking creditor approval for additional one-time distribution of approximately $150 million at 2019-end before using the remainder to pay down debt, Bloomberg reported, citing Moody's.

The transaction will increase the company's total debt to around 5.5x a measure of earnings, according to Bloomberg, citing people familiar with the matter.

GIC and Silver Lake bought a majority interest in the company in 2016, while its former owners Permira and Spectrum Equity continue to own a minority stake in the business.

Representatives for Morgan Stanley, the lead arranger of the new term loan, and Silver Lake did not comment on the matter, while GIC did not answer requests for comment, according to the report. A representative for said it does not comment on its capital structure.