CTXS - Citrix Cornerstone Building tick higher on reports about loan financing (update)

Update 3:42pm: Adds reports on Citrix Systems financing details.

Citrix Systems ( CTXS ) rose 1.4% and Cornerstone Building Brands ( NYSE: CNR ) ticked up on a reports about financing updates for their buyout deals.

Bank of America has started to canvas investors to see their interest in part of $15B in debt for a Citrix ( CTXS ) buyout deal, according to traders who cited a Bloomberg report.  Pre-marketing for the deal could start next week.

Banks are set to hold an investor call for bond and loan financing for the Cornerstone Building's ( CNR ) $5.8 billion sale to private equity firm Clayton, Dubilier & Rice. The call is set for tomorrow art 2pm, according to traders, who cited a separate Bloomberg report.

Any updates on financing of leveraged buyouts are important for M&A investors who been concerned in recent months about stock market volatility and financing with higher interest rates, especially after tech PE firm Thoma Bravo reduced its takeout price for Anaplan early last month/ In addition last month Zendesk agreed to sell itself to a PE consortium at a price almost half of what it turned down in February

The Citrix financing report comes after Broadcom on Monday announced that Tom Krause, who resigned as president of Broadcom Inc.'s ( AVGO )software group, will become the CEO of the company being formed by the combination of Citrix and Tibco Software. Krause will become CEO after Citrix's ( CTXS ) planned $16.5 billion sale to Vista Equity and Elliott's Evergreen Coast.

Cornerstone Building ( CNR ) agreed to be acquired for $24.65/share a share in early March, in a deal with $5.8B enterprise value, including the assumption of debt. CD&R, was already the owner of ~49% of Cornerstone's outstanding common shares.

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