A group of direct lenders led by Blackstone Inc. is providing about $5 billion of debt to help fund the leveraged buyout of software maker Zendesk Inc., according to people with knowledge of the matter.
The financing for the acquisition of the company led by Hellman & Friedman and Permira includes a $3.75 billion term loan and a $350 million revolving credit facility, according to a filing Friday. It also includes a loan of $750 million to $1 billion that can be drawn at a later date, according to the people, who asked not to be identified discussing a private transaction.
The lender group also includes Apollo Global Management Inc., Blue Owl Capital and HPS Investment Partners, the people said. Blue Owl is acting as administrative agent on the loan, one of the people said.
A group of lenders led by Ares Management Corp. bought the unsecured portion of the $11.15 billion debt financing supporting Elliott Investment Management and Brookfield Asset Management’s acquisition of U.S. TV ratings business Nielsen Holdings Plc.Â
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