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    Home»Deals»Blackstone-led group antes up $1.8 billion loan for Medallia buyout
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    Blackstone-led group antes up $1.8 billion loan for Medallia buyout

    August 9, 20211 Min Read
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    WASHINGTON, DC - AUGUST 05: CEO and co-founder of Blackstone Stephen Schwarzman participates in a session of the U.S.-Africa Business Forum on "Powering Africa: Leading Developments In Infrastructure," during the U.S.-Africa Leaders Summit at the Mandarin Oriental Hotel August 5, 2014 in Washington, DC. The three-day-long summit is to strengthen ties between the United States and African nations. (Photo by Alex Wong/Getty Images)
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    Blackstone Group, Apollo Global Management and KKR are among lenders providing a $1.8 billion loan to back Thoma Bravo’s leveraged buyout of Medallia, the latest in a series of giant-sized deals in the direct-lending market over the past few weeks.

    The unitranche loan blends first-priority and subordinated debt into a single facility, and was made directly to the company through the firms’ credit arms — rather than being arranged by banks, according to people with knowledge of the transaction. The lending unit of Thoma Bravo and direct lender Antares Capital are also helping provide the loan.

    Pricing details on the loan weren’t disclosed.

    Read More

    Source: Pension&Investment

    By Bloomberg

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