NEW YORK, Feb. 8 /PRNewswire/ -- Merrill Lynch announced today the closing
of ML Mezzanine Investors, a $1.1 billion facility that will provide an added
source of mezzanine financing for corporate clients and financial sponsors.
The facility includes participation from outside institutional investors as
well as from Merrill Lynch itself.
The facility will be used to provide the layer of capital between senior
debt and equity in financing transactions. Mezzanine debt is both an
alternative and a complement to traditional high-yield bonds. It is typically
used in leveraged capital structures for corporate expansion, leveraged
buyouts and balance sheet recapitalizations. ML Mezzanine Investors will
target investments in the range of $50 to $100 million, in both the U.S. and
Europe.
"Mezzanine capital has become a critical source of financing for financial
sponsors in buy-out transactions, as well as for companies in a variety of
other special situations," said Tom Davis, President of the Corporate &
Institutional Client Group. "Broadening our global leveraged finance platform
with this additional source of mezzanine financing will significantly enhance
our ability to provide complete solutions for clients, whether that involves
loans, bonds, equity or strategic advice."
The mezzanine facility will be coordinated by the Mezzanine Investment
Committee, which includes senior professionals from Global Leveraged Finance,
Global Credit and Capital Commitments, and High Yield Credit Research.
Merrill Lynch is one of the world's leading financial management and
advisory companies with offices in 44 countries and total client assets
exceeding $1.7 trillion. As an investment bank, it is the top global
underwriter and market maker of debt and equity securities and a leading
strategic advisor to corporations, governments, institutions, and individuals
worldwide. Through its Asset Management Group, the company is one of the
world's largest managers of financial assets.
SOURCE Merrill Lynch & Co., Inc.
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http://www.merrilllynch.com
Company News On-Call:
http://www.prnewswire.com/comp/555800.html or fax,
800-758-5804, ext. 555800
CONTACT:
Jonathan Humphreys of Merrill Lynch,
212-449-2107, jonathan_humphreys@ml.com
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