quikrete secures 9.2 billion debt package for summit materials acquisition

Quikrete Holdings Inc. has obtained a significant $9.2 billion debt package to fund its purchase of Summit Materials Inc., indicating a notable return of large-scale buyouts in the financial market.

This financing arrangement is one of the largest since the Federal Reserve began raising interest rates in 2022, signaling a departure from the previous era of easy money.

Wells Fargo & Co. will provide the debt commitments, including up to $6.7 billion in bridge financing. This development underscores a renewed interest in mega debt deals as Wall Street anticipates a resurgence in major acquisitions.

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