Boots Increases Dollar Loan Offering, Further Cuts Bond Size

Banks selling debt backing Sycamore Partners’ acquisition of Boots have increased the minimum size of the dollar tranche of its term loan, while cutting once more the overall size of its bond issuance.

The buyout deal is now heavily weighted toward loans after the pharmacy chain upsized its dollar-denominated term loan B on Thursday to $1 billion from $750 million, taking the total size of The Boots Group’s term loan package to $3 billion-equivalent.