Corporations like funding In the front, but first what the heck does that mean?
To fund the acquisition of Kite Pharma, Gilead Sciences priced a $3 billion bond deal and took out a $6 billion term loan. This in itself isn't that unusual. Companies have been making heavy use of low-interest rates to finance acquisitions through debt since the great financial crisis.
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However, what's interesting to note about this deal according to Bank of America analyst Hans Mikkelsen and team, is that all of the bond tranches were two years or shorter. One...
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