Blackstone pledges Mphasis shares to raise $700 million
pre-market1 source ↓written by the desknot a recommendation
- has pledged
- 30.55% stake
- for refinancing
- $700 million
Blackstone has pledged its 30.55% stake in Mphasis Ltd to raise $700 million for refinancing a loan related to its buyout of the IT services firm. This marks a notable instance of using shares as collateral in the IT sector. The funds will be managed by a consortium of nine banks, including Citibank and Deutsche Bank.
Not investment advice. For informational purposes only.