Software-focussed private investment firm Thoma Bravo has closed a $5.5bn leveraged loan to support its pending acquisition of HR software provider Dayforce Inc, following robust investor interest, according to a report by Bloomberg.
The seven-year facility was priced at 3 percentage points over the benchmark, tighter than initial indications of 3.25–3.5 points, with a discount of 99.75 cents on the dollar. Goldman Sachs led the syndicate, bringing the deal to market amid a surge in demand for acquisition financing.
The loan marks 2025’s largest buyout financing to date, surpassing Quikrete’s $3.95bn take-private loan for Summit Materials. Thoma Bravo agreed to acquire Dayforce in August for $12.3bn including debt, paying $70 per share. Dayforce provides HR software for payroll, recruiting, and employee development.
