ION Group is hoping to cut leverage at three of its divisions by merging them into one holding company next month, a move that could help it reduce its interest bill and potentially raise more debt.
ION Platform, which will unite ION Analytics, ION Corporates and ION Markets, will have around $10 billion of bonds and loans, according to a private presentation distributed to investors and seen by Bloomberg. That will make it one of Europe’s largest issuers of junk debt, but because synergies from the merger will boost earnings, the firm’s debt-to-Ebitda measure is expected to drop. ...
