Deutsche Bank, JPMorgan Delay KKR Boots Loan Sale to Next Week, People Say

(Bloomberg) -- Deutsche Bank AG, JPMorgan Chase &
Co. and six more banks delayed selling 1.75 billion pounds ($3.6
billion) of Alliance Boots Plc loans until next week, bankers
involved in the deal said.

The underwriters extended today's deadline for investors to
buy the loans as the benchmark index for leveraged loans fell to
the lowest in at least nine months, said the bankers who
declined to be identified because the information is private.
Kohlberg Kravis Roberts & Co.'s bankers canceled plans earlier
this week to raise 5 billion pounds of lower-yielding senior
loans for Boots after investors snubbed the deal.


Read more at Bloomberg Bonds News

KKR May Increase Interest on Alliance Boots LBO Debt, Default Swaps Show

(Bloomberg) -- Kohlberg Kravis Roberts & Co. may be
forced to offer higher interest to investors on 9 billion pounds
($18.5 billion) of loans to finance the buyout of U.K. pharmacist
Alliance Boots Plc, according to traders of credit-default swaps.

Investors are shunning high-yield debt as losses in U.S.
subprime mortgages roil corporate bonds and loans. The tougher
conditions forced KKR to cancel this week a 1 billion-euro ($1.4
billion) financing for Dutch retailer Maxeda NV. The New York-
based buyout firm delayed a $3 billion sale of debt last month to
acquire catering company U.S. Foodservice in Columbia, Maryland.


Read more at Bloomberg Bonds News

KKR Cancels $1.4 Billion Sale of Loans to Refinace Maxeda Leveraged Buyout

(Bloomberg) -- Kohlberg Kravis Roberts & Co.
canceled plans to sell 1 billion euros ($1.4 billion) of loans
for Dutch home-improvement retailer Maxeda BV because of market
volatility.

The deal is the third to be postponed or restructured by
KKR in as many weeks as losses from the U.S. subprime mortgage
rout reduce investor demand for risky debt. The New York-based
buyout firm is trying to raise 9 billion pounds ($18 billion)
this week to finance its takeover of Nottingham, England-based
drugstore chain Alliance Boots Plc.


Read more at Bloomberg Bonds News

DEALTALK-KKR aims to take role of banks with IPO

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. [KKR.UL]
said in its IPO prospectus earlier this week that the $1.25
billion offering will allow the firm to expand its ability to
syndicate equity and reduce reliance on third-party sources of
capital.




Syndicating leveraged buyout equity is normally the role of
investment banks. Does KKR wish to cut banks entirely out of
the LBO process? The answer is no, sources close to the firm
say, since the firm will still rely on banks to handle the debt
borrowed for the deals.


Read more at Reuters.com Bonds News

KKR Offers Safeguards, Discount to Investors for $1.4 Billion Maxeda Loan

(Bloomberg) -- Kohlberg Kravis Roberts & Co.
strengthened investor safeguards and offered a discount to
borrow $1.4 billion for Dutch DIY retailer Maxeda BV, said a
banker involved in the transaction.

KKR is selling the debt at 99.75 percent of face value and
adding a so-called maintenance covenant that restricts how much
it can borrow relative to cashflow, according to the banker, who
declined to be identified because the deal isn't completed.


Read more at Bloomberg Bonds News

CPP, Teachers frontrunners in BCE race: papers

(Reuters) - Consortiums led by Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan have filed identical C$41-per-share all-cash offers, valuing the bid at almost C$33 billion , not including debt, according to the Financial Post.



Both consortiums are backed by U.S. private equity firms. Kohlberg Kravis Roberts & Co. is in the CPP group and Providence Equity Partners is in the Teachers' group.


Read more at Reuters.com Mergers News