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Investing.com -- Apollo Global Management Inc. is working to revive a debt sale of more than $2 billion connected to a buyout involving Canadian auto parts manufacturer ABC Technologies Holdings Inc., Bloomberg reports.
The debt package, which stalled on banks’ balance sheets during a market selloff in April triggered by tariff concerns, is now being discussed with private credit firms, including HPS Investment Partners.
This potential arrangement marks a shift away from the broadly syndicated market where banks typically operate, according to Bloomberg, citing sources familiar with the discussions who were not authorized to speak publicly.
Apollo, which backs ABC Technologies, is expected to participate by taking on some of the debt in this round of financing.
The discussions remain in early stages and the plans could still change, the sources added.
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