Greenhill Revises Recapitalization and Increases Leverage to M&A Cycle
Greenhill has increased its leverage to the merger and acquisitions cycle with a revised recapitalization plan that increases its debt load, tender offer price, and repurchase amount. The company is increasing its loan amount to $350 million from $300 million, its tender offer price to $17.25 from $17.00, and its planned repurchase amount to $285 million from $235 million. The tender offer expires Oct. 25, 2017, and the rate on the loan will be Libor plus 375 basis points. We are not planning on...Greenhill & Co is an investment bank that provides financial advice on domestic and cross-border mergers and acquisitions, divestitures, restructurings, financings, capital raising and other transactions to corporations, partnerships, institutions and governments. The company serves as an advisor to its clients throughout the world on a collaborative integrated basis from its offices located in the U.S., Australia, Brazil, Canada, Germany, Hong Kong, Japan, Spain, Sweden, and the U.K. The company provides corporate advisory services related to mergers and acquisitions and financings and restructurings and capital advisory services related to sales or capital raises pertaining to alternative assets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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