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-0.00132997776924144 -0.00470810372244342 -0.00959289318951176 -0.0054948387544798 0.00403124788482554 0.00921842489493348 0.00763616449530719 0.0112402020722337
Stock impact report

Banks consider £3.5bn jumbo financing for Asda stake sale [Reuters]

Walmart Inc. (WMT) 
Last walmart inc. earnings: 2/18 06:00 am Check Earnings Report
US:NYSE Investor Relations: stock.walmart.com/investors/default.aspx
Company Research Source: Reuters
Banks consider £3.5bn jumbo financing for Asda stake sale LONDON, April 2 (LPC) - Banks are considering raising up to £3.5bn of underwritten debt to back a potential buyout of British supermarket Asda, which Walmart is close to selling, assessing appetite for a jumbo deal in light of the coronavirus pandemic, banking sources said. Walmart, the world’s largest retailer, has been in discussions with potential buyers Apollo, Lonestar and TD&R for some time and is set to make a decision shortly on whether they will push on and get the deal done or put the process on hold. Walmart has been looking to sell a portion of Asda after it failed to combine it with Sainsbury’s last year. Banks would typically jump at the chance to fund a headline-grabbing, jumbo buyout, but financing any deal could prove problematic in the current climate as risk-adverse lenders have all but stopped underwriting leveraged financings due to the coronavirus. Jumbo buyouts are backed with underwritten commitments of Show less Read more
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