(Bloomberg) — PetSmart Inc. is shelving a $4.65 billion debt sale that would have helped finance its split from its online counterpart Chewy Inc. after struggling to get buyers on board.The company withdrew its joint junk bond and leveraged loan offering, citing market conditions, according to emailed comments from a PetSmart spokesman Friday. The financing, part of a plan to separate the companies led by private equity firm BC Partners, had yet to generate enough orders to match what it was trying to raise, according to people familiar with the matter, who asked not to be named discussing a private …read more
Source:: Yahoo Finance
