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Funding for Equiniti/AST union to include $350 million unsecured debt
By Paul A. Harris
Portland, Ore., Oct. 18 – Equiniti/AST plans to issue $350 million of unsecured debt, according to a market source.
The debt offer was disclosed among details on a $900 million equivalent term loan coming in dollar-denominated and sterling-denominated tranches via Goldman Sachs, BofA Securities Inc., Deutsche Bank Securities Inc. and Lloyds, and set to launch on a Tuesday lender call.
Proceeds will be used to support the combination of Equiniti and AST.
Siris is the sponsor.
Equiniti is a provider of mission-critical shareholder, pension, remediation and credit technology in the United States and the United Kingdom. AST is a provider of mission-critical shareholder technology in the United States.
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