Clearlake Capital is in discussions with both traditional banks and private credit providers as it seeks to refinance a short-term bridge facility used to back its acquisition of Dun & Bradstreet Holdings, according to a report by Bloomberg citing sources familiar with the matter.
Talks with direct lenders, including Ares Management, are centred around a potential $5bn debt package priced at roughly 500 basis points over the benchmark rate, with the loan expected to be issued at a slight discount of 99 cents on the dollar.
In parallel, Clearlake is evaluating proposals from a consortium of banks led by Morgan Stanley, the sources said.
As part of the refinancing process, Clearlake is also weighing a larger equity contribution to reduce reliance on debt, potentially scaling down the original $5.75bn short-term facility. No final decisions have been made and deal terms remain fluid.
The firm initially secured a 364-day bridge loan to expedite its acquisition of the data and analytics provider, which was valued at approximately $7.7bn including debt. The move was seen as unconventional for a leveraged buyout of this scale.
