Brookfield-Backed Clarios Sells Loan for $4.5 Billion Payout
- A high yield bond deal is also expected to launch shortly
- Issuance will push Clarios debt pile to around $12.5 billion
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Car battery maker Clarios International Inc. launched a loan deal on Wednesday that will go toward paying a $4.5 billion dividend to its private equity owners — one of the largest such payouts on record.
The Wisconsin-based firm is to hold an investor call later in the day to pitch a $2.5 billion dollar-denominated term loan and an $800 million-equivalent euro term loan, according to people familiar with the deal who asked not to be named. The debt launch comes after the company shelved plans for an initial public offering.