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Investing.com -- Jefferies Financial Group Inc. is marketing up to $1.2 billion in debt for power infrastructure companies to replace loans currently held by direct lenders, according to Bloomberg, citing people familiar with the discussions.
The investment bank is looking to raise up to $600 million each for Forgent Power Solutions and Central Moloney LLC, both manufacturers of power industry products, said the sources.
Jefferies plans to speak with investors this week to assess interest in the transactions. The companies would use the proceeds to repay their existing loans. A potential leveraged loan for Forgent is being discussed at 3 percentage points above the US benchmark, while a possible loan for Central Moloney is being considered at 3.75 percentage points, the sources said.
The power sector is experiencing increased demand globally, driven by artificial intelligence’s growing energy requirements, which is fueling greater investment in energy infrastructure. Forgent, which owns brands including MGM Transformers and PwrQ, produces electrical equipment for data centers, while Central Moloney manufactures components such as transformers for the U.S. electrical grid.
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