Smith Barney and Scotiabank announced Thursday that they will team up to create a $1 billion bridge loan fund, the Blue Water Fund.

It will make senior and subordinated interim loans in connection with strategic acquisitions, recapitalizations, and leveraged buyouts to be refinanced by subsequent high-yield debt issues.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.