Goldman-Backed Boyd Offers Loan at Deep Discount Post-Eaton Deal
Signage outside a Boyd Corp. factory.
Photographer: Paul Ratje/BloombergGoldman Sachs Asset Management-backed firm Boyd Corp. is offering a steeply discounted loan to refinance its capital structure following a recent $9.5 billion divestiture.
Initial pricing discussions on the Florida-based producer of adhesive and insulation materials’ $530 million loan involve an interest rate 4.5 percentage points above benchmark, offered at a discounted price of as low as 92 cents on the dollar, according to a person with knowledge of the matter. Just one leveraged loan this year has priced below 92 cents, Bloomberg-compiled data show.