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Oct 12, 2023

A group of lenders led by the Royal Bank of Canada is selling a leveraged loanBloomberg Terminal of as much as $2.75 billion supporting Blackstone Inc.’s deal for an Emerson Electric Co. unit, according to people familiar with the matter.

The new loan is part of a $5.5 billion debt package being brought to public markets that would replace both a $2.9 billion loan held by banks as well as $2.6 billion of commitments Blackstone received from private lenders last year for its leveraged buyout. The acquisition is expected to close by the end of June.