JEF Jefferies Financial Group Inc

Syniverse Technologies, the mobile-services company backed by Carlyle Group, is working with Jefferies Financial Group to amend the terms and extend the maturity of its existing debt, according to Bloomberg. The company is considering splitting its $984 million first-lien term loan into multiple tranches as part of a liability-management exercise. Under the proposal, existing lenders could extend the first-lien debt at an interest rate of 8 percentage points over the U.S. benchmark, with participating lenders receiving “first-out” priority in a restructuring. Syniverse is also seeking about $95 million of new capital for this tranche, which would be offered at 9.5 percentage points over the benchmark. Another $573 million first-lien tranche would have lower repayment priority and carry a 14.5% annual rate that would be added to principal rather than paid in cash. Lenders that do not extend their positions would be moved into second-lien debt with lower repayment priority. $JEF

HomeServe is in preliminary discussions with lenders for a $1.8 billion asset-backed bond issuance through a whole-business securitization led by Jefferies Financial Group, according to Bloomberg, citing people familiar with the matter. The home emergency repair services provider plans to use the proceeds to refinance existing debt and pay a $600 million dividend to its owner, Brookfield Asset Management, which acquired HomeServe in 2023. The financing is expected to be structured in several tranches across public and private structured-finance markets. A five-year tranche could be publicly traded, with pricing being discussed at the high end of 1 percentage point to the low end of 2 percentage points above the U.S. Treasury benchmark. Two private tranches are also planned: a seven-year portion at around the mid-2 percentage-point range and a 10-year portion toward the high end of the 2 percentage-point range. $JEF