RJR Nabisco Asks to Refinance Debt
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NEW YORK — Sixteen months after the biggest leveraged buyout in U.S. corporate history, RJR Nabisco Inc. is asking its four major bank lenders to help refinance part of the $25 billion spent to take the company private last year, the company said Wednesday.
Banking sources said the refinancing would total $5.3 billion and involve RJR’s worst-performing junk bonds.
RJR Nabisco said it was in discussions with its major creditor banks to amend existing agreements to allow it to buy back a “significant amount” of its debt.
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