Banks sound out private credit as auto tariffs cloud ABC Technologies syndication
- Dan Mika
- +Shubham Saharan
The banks looking to offload committed financing in the syndicated debt market for Canadian auto parts maker ABC Technologies’ acquisition of TI Fluid Systems are sounding out interest from direct lenders and opportunistic credit funds as tariff concerns weigh on investor demand, according to 9fin sources.
The Trump administration’s plans to place tariffs on global imports this week on top of its levies of auto parts and cars have created a challenging backdrop for the deal, sources said. Citi and other banks running the deal are gauging interest across multiple types of lenders to support the transaction, according to sources.