Blackstone and Ares have partnered to deliver a $1.43bn private credit loan package to Swedish property management company Odevo AB, according to a report by Bloomberg, citing unnamed sources familiar with the deal.
The funding comes as Odevo moves to refinance its debt following CVC Capital Partners’ acquisition of a stake in the company earlier this year. CVC joined existing investors led by Swedish firm Fidelio Capital in August, in a deal valuing Odevo at over $3bn.
The credit package comprises a $1.1bn unitranche loan and an additional $330m undrawn term loan. The financing is divided across multiple currencies, including euros, US dollars, British pounds, and Swedish krona, offering flexibility for Odevo’s international operations, sources revealed.
