More banks are expected to pitch in on the $14 billion financing supporting Blackstone Group LP's pending acquisition of a majority stake in Thomson Reuters Corp.'s financial and risk business, Reuters reported, citing "banking sources."
The bank trio leading the financing, Bank of America Merrill Lynch, Citigroup and JP Morgan, are in talks with other banks including Barclays, Deutsche Bank, Goldman Sachs, HSBC and RBC, regarding joining the deal.
New lenders are being offered fees to underwrite 28% of the transaction, and the amount of business they do with Thomson Reuters will be taken into consideration in the appointments, according to the report.
Sources expect the financing to consist of 60% loans and 40% bonds, resulting in an $8 billion-equivalent loan financing, and possibly a split of $3 billion-equivalent secured bonds and $3 billion-equivalent of unsecured bonds. They said the financing will be mainly denominated in dollars, and bankers are considering how much of the debt will be denominated in euros.
Blackstone and Thomson Reuters declined to comment.