A group of private credit lenders led by Blue Owl Capital has agreed to provide a $1.4bn loan to support Hg’s acquisition of OneStream, pushing ahead with the deal despite growing scrutiny over software exposure across private credit portfolios, according to a report by Bloomberg.
The financing is reportedly structured as an annual recurring revenue loan and priced at 4.75 percentage points over the US benchmark rate. A further $850m will be available via a revolving credit facility and a delayed-draw term loan. The transaction values OneStream at around $6.4bn.
Alongside Blue Owl, lenders on the deal include Goldman Sachs Alternatives, Golub Capital, HPS Investment Partners and Blackstone, the sources said.
In January Hg announced that it would take OneStream private alongside minority investors General Atlantic and Tidemark. OneStream, which provides financial planning and reporting software to CFOs and finance teams, listed in 2024.
