(Bloomberg) -- Carlyle Group Inc. agreed to acquire ManTech International Corp. in a deal valuing the US government contractor at about $3.9 billion. Most Read from BloombergGoldman’s Blankfein Says US at 'Very, Very High Risk' of RecessionMeet the Hedge-Fund Manager Who Warned of Terra’s $60 Billion ImplosionHow Omicron Infection Turbo-Charges Vaccinated People’s Immunity$11 Trillion and Counting: Global Stock Slump May Not Be OverTerra Hasn’t Killed Crypto, But It Was a Narrow EscapeThe buyout
Global economic uncertainty and market volatility triggered by the Russia-Ukraine war, coupled with monetary tightening from the Federal Reserve and the Bank of England and expectations the European Central Bank will follow suit, have made deal financing costlier and harder to access, bankers and analysts say. While banks have agreed to provide the necessary financing, some are having to sweeten terms to find lenders willing to take on chunks of their debt. Global corporate debt yields have soared nearly 200 basis points on average this year.
The two banking behemoths’ participation in the $70 million funding round marks “another validation of the longevity of crypto.”