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Goldman Sachs Explores Petco Debt Refinancing as Retailer’s Health Improves

Goldman Sachs is reportedly testing investor appetite for a refinancing package covering Petco Health & Wellness Company’s nearly $1.6 billion term loan. Sources indicate the bank has been soliciting feedback on both structure and pricing for the potential debt offering. The move comes as Petco’s financial position shows signs of improvement following a challenging period for retailers.

Major Debt Restructuring in the Works

Goldman Sachs is quietly testing the waters for what could become a significant refinancing of Petco Health & Wellness Company’s debt load, according to multiple sources familiar with the matter. The banking giant has reportedly been gauging investor interest in a package that would address Petco’s nearly $1.6 billion term loan, signaling growing confidence in the pet retailer’s turnaround prospects.

Business

Goldman Sachs Loses Veteran Credit Strategist Karoui in Senior Research Departure

Goldman Sachs’s chief credit strategist Lotfi Karoui has exited the firm after nearly two decades, sources confirm. The departure comes alongside other senior research changes at the investment banking giant, including the planned retirement of chief US equity strategist David Kostin.

Senior Leadership Shift at Goldman Sachs

Goldman Sachs’s chief credit strategist Lotfi Karoui has departed the firm after 18 years, according to reports confirmed by the bank. Karoui, who also served as head of credit, mortgages and structured product research, was named to the chief credit strategist position in 2017 and was among 95 executives promoted to partnership in November.