Kraft’s acquisition of Cadbury is expected to trigger the next blockbuster sale in the global corporate bond market as the company refinances an $11.5 billion bridge loan used to temporarily fund the deal. The world’s second largest food group Kraft is expected to have no trouble drawing demand for a bond sale, thanks to its investment grade ratings. Read the Reuters story here.
Private equity giant KKR is to launch a partnership to invest in consumer services, education and media businesses, a source familiar with the situation said on Monday. It will launch the business with Jonathan Grayer, former chairman and CEO of Kaplan, a unit of Washington Post Co. Grayer was CEO of Kaplan for 14 years in 2008.
And in other media:
American International Group has decided not to sell its aircraft leasing unit International Lease Finance Corp, the Financial Times said, citing people close to the situation. AIG has realised that it will not reap a big profit from the divestment of the business, ptompting it to scrap the sale plans.