AbbVie and NXP boost M&A volumes

摘要

The loan market received another boost last week as drugmaker abbvie and semiconductor company nxp boosted US M&A volume to US$152.7bn so far this year, including completed and deals in the pipeline. On the investment-grade side, AbbVie is leading the charge backing its US$21bn acquisition of Pharmacyclics with an US$18bn 364-day senior unsecured bridge loan from Morgan Stanley and Bank of Tokyo-Mitsubishi UFJ. The bridge loan, which is the largest financing so far this year, is in the market and is expected to be syndicated among the company's relationship banks.