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.
Source: Pension&Investment
By Bloomberg
