PSA wraps up acquisition financing with new $1 billion bond deal
Sole lead manager Morgan Stanley prices new dual tranche $1 billion bond deal, effectively completing the $4.4 billion acquisition financing for PSA's 20% purchase of Hutchison Ports stake.
On early Friday morning June 23, PSA International PSA priced a $1 billion bond offering that effectively completes the $4.4 billion financing for the 20% acquisition of Hutchison Ports and pays down the outstanding $1.8 billion bridge loan. The deal, led by sole lead manager Morgan Stanley, comes inside of revised price guidance. Royal Bank of Scotland which also underwrote the bridging loan with Morgan Stanley acted as senior co-manager.
The AaaAA rated deal was split into a...
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