Centerbridge Partners has lined up nearly $1.4bn in private debt to finance its $2bn acquisition of financial software provider MeridianLink, according to a report by Bloomberg citing unnamed market sources.
The financing – split equally among Goldman Sachs Asset Management, Blackstone, Ares Management, Blue Owl Capital, and Antares Capital – comprises a $960m term loan, a $250m delayed-draw term loan, and a $150m revolving credit facility. The debt is priced at 475bps over the benchmark with a seven-year maturity.
The deal underscores private credit’s growing role in large-cap PE transactions, as competition with traditional banks intensifies in a still-muted M&A environment. Recent weeks have seen direct lenders win several sizeable mandates, including Thoma Bravo’s $3bn refinancing for Flexera and Advent International’s near-$1bn take-private of Sapiens International.
MeridianLink, which serves financial institutions and consumer reporting agencies, announced the Centerbridge take-private agreement in July.
