-- RTX Corp. is tapping the US investment-grade bond market to help repay a short-term loan that will cover the cost of its $10 billion share-buyback.Private Credit Giants Are Butting Heads Over a Hot New Asset Class
Proceeds from RTX’s latest bond offering will be used to repay a portion of the loans under the bridge credit agreement, added the person. A spokesperson for RTX didn’t respond to a request for comment. Meanwhile, research firm CreditSights Inc. estimates that RTX will pay down about $4 billion of debt next year, funded mostly with asset sales, and flat debt from there, according to a Monday note.RTX is among at least 11 issuers in the US high-grade market on Monday. Blue-chip firms may borrow as much as $40 billion this week, according to an informal survey of Wall Street syndicate desks.
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