The Harrah's Entertainment acquisition is one of 10 leveraged buyouts that will determine the current trend now happening with private equity firms, according to the Wall Street Journal Web site.
Apollo Management and Texas Pacific Group need to raise $9 billion in bonds to finance the $17.1 billion buyout, part of nearly $200 billion in financing various firms will be seeking from credit investors to finance deals over the next six months.
How successful the private equity firms are in placing Harrah's bonds could pave the way for additional large buyouts on the Strip. Most speculation centers on MGM Mirage, which has a current market value of approximately $25 billion.
Las Vegas Review-Journal
No comments:
Post a Comment