Radio and outdoor advertising company Clear Channel Communications Inc. increased the amount of loans on which it’s seeking to extend maturities. Sysco Corp. obtained a financing commitment of $4.75 billion to back its purchase of US Foods.
Chrysler Group LLC, the U.S. automaker controlled by Italy’s Fiat SpA, proposed the rate it will pay on a $2.93 billion term loan on which it’s seeking to cut costs, according to a person with knowledge of the transaction.
Chrysler Group LLC is seeking to lower the interest rate on a $2.9 billion loan for the second time this year, underscoring the boom in junk-rated financing that led the U.S. Federal Reserve to warn about excesses in the market.
Valeant Pharmaceuticals International Inc. is seeking to refinance about $5.7 billion of loans, while Samson Investment Co. and Hillman Group Inc. are asking lenders to cut the cost of their bank debt.
Las Vegas Sands Corp., whose credit ratings were increased today to investment grade by Standard & Poor’s, will boost interest to lenders in return for extending its loan maturity and removing financial covenants.
American Airlines Inc. is seeking to reduce the cost of a $1.9 billion term loan after last week winning bankruptcy court approval of the deal it reached with regulators to complete its merger with US Airways Group Inc., according to a person with knowledge of the transaction.