West Corp. taps eight banks for financing for buyout by Apollo

By Sara Rosenberg

New York, May 10 – West Corp. plans on getting new financing to help fund its acquisition by Apollo Global Management LLC, according to a news release.

Credit Suisse, RBC Capital Markets LLC, Bank of America Merrill Lynch, Barclays, Citigroup, Deutsche Bank, Morgan Stanley and Goldman Sachs are providing the financing.

And, Caisse de dépôt et placement du Québec and PSP Investments Credit USA LLC also committed to provide a portion of the financing.

Under the agreement, Apollo is buying the company for $23.50 per share in cash. The transaction has an enterprise value of about $5.1 billion, including net debt.

Closing is expected in the second half of the year, subject to receipt of regulatory approvals, West stockholder approval and other customary conditions.

West is an Omaha-based provider of communication and network infrastructure services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.