Goldman Sachs Group Inc. is gauging investor interest in a debt package to refinance Petco Health & Wellness Company’s nearly $1.6 billion term loan as the company’s financial position has improved, according to people with knowledge of the matter.
The bank has been soliciting feedback from investors on both structure and pricing, said the people, who asked not to identified because the conversations are private. Early discussions involve bonds with a coupon of 8% to 9% and a term loan portion at about 4.25 percentage points over the benchmark, said the people, who added the securities could be offered at a slight discount.
Goldman Pitches Petco Debt Refinancing as Finances Strengthen
