A $2.15 Billion Loan for Colonial Pipeline LBO Gets Launched

A $2.15 billion leveraged loan has been launched to help fund the planned acquisition of Colonial Enterprises Inc.

Initial price talk is for the loan is interest rate at least two percentage points over the Secured Overnight Financing Rate, offered at a discount of 99.5 cents on the dollar, according to a person familiar with the matter.

A lender call will be held June 9 and Morgan Stanley is the sole bookrunner, added the person, who asked not to be identified as they’re not authorized to speak publicly.

Bloomberg News reported last week that Brookfield Asset Management Ltd. was lining ...