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What Was the Leverage Market Like?
The rushed process of submitting a bit on January 15th during the busy holiday season was a defining factor for OneRock. Despite the transformational deal and the higher stakes, they prioritized getting the work done. The transaction terms included an all-cash purchase price, financed with a billion in equity and the rest through bank loans and high yield debt. The purchase price was around eight times e-bitda, and they noted the positive impact of the leverage market.