Paramount Reaffirms $54B Financing Commitment for WBD Acquisition
Paramount (PSKY) notes WBD's (WBD) January 7 comments questioning the certainty of its debt financing. "Bank of America (BAC), Citibank, N.A. (C) and Apollo Capital Management, L.P. (APO) are each global sophisticated financial institutions, with decades of experience financing companies and borrowers in history's largest, most complicated transactions. They have confirmed that the commitment letter previously delivered by them to provide the previously disclosed $54B of debt financing to fund Paramount's proposed acquisition of WBD and to finance the related offer to purchase shares remains in full force and effect. Paramount has retained the world's premier financial partners and would welcome the opportunity to engage directly with the WBD Board to discuss the offer and address the Board's latest claims."
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Apollo Secures €900 Million Financing for European Logistics Portfolio
- Financing Scale: Apollo-managed funds have completed approximately €900 million in senior secured financing primarily aimed at refinancing existing debt of the Cerberus and Arrow Strategic Industrial Real Estate platform, highlighting strong market demand for high-quality assets.
- Asset Portfolio: The financing encompasses 92 institutional-quality assets totaling over one million square meters, strategically located across key European logistics corridors in the UK, Germany, the Netherlands, Spain, Ireland, and Poland, ensuring geographic diversity and a stable tenant base.
- Market Response: Apollo's investment reflects strong market recognition of the value built across the Cerberus SIRE platform, further solidifying its strategic position in Europe while indicating ongoing demand for high-quality assets.
- Industry Activity: Apollo's Real Estate Credit business remains highly active in Europe, with recent investments including financing for UK student accommodation assets and a new film production hub, demonstrating its significant influence in the non-bank lending market.
Fundraising and Deal-Making to Drive Earnings for Private Asset Managers
Year-End Reporting: Big private asset managers are starting to report their year-end results.
Morgan Stanley Analysts' Focus: Analysts at Morgan Stanley will be particularly interested in two key aspects during these reports.
