Morgan Stanley has invited banks to purchase pieces of a $3 billion loan funding Royal Caribbean Cruises Ltd.'s acquisition of a 50% stake in Sandals Resort International. The loan carries a 364-day maturity and an interest rate 1.125 percentage points above the Secured Overnight Financing Rate. This transaction is part of Morgan Stanley's recent string of short-term buyout financings, capitalizing on a surge in mergers and acquisitions.
Earlier this week, the bank provided a €22 billion bridge loan to Schneider Electric for its acquisition of PT C Inc. Additionally, Morgan Stanley backed CH Robinson's $5.8 billion acquisition of RXO with a $4.5 billion short-term loan and financed Wittington Investments' $8.9 billion purchase of Boots. The bank also provided a £2.4 billion bridge commitment to Informa for its acquisition of Clarion. Royal Caribbean and Informa declined to comment, while Morgan Stanley declined to comment on the deals.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing