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Thoma Bravo eyes $1bn private credit loan to support NextGen deal

Thoma Bravo is looking to private credit lenders as it seeks to arrange roughly $1bn in debt financing to support its planned acquisition of cloud-based healthcare technology solutions provider NextGen Healthcare, according to a report by Bloomberg.

The report cites unnamed sources as revealing that discussion between Thoma Bravo and private credit firms are ongoing over the financing, which would dramatically reduce the amount of equity Thoma Bravo needs to put up for the acquisition, but is not specifically required for the takeover to close.

Thoma Bravo last week agreed to buy NextGen Healthcare for $23.95 per share in a deal that values the health-records software company at around $1.8bn, including debt. The transaction, which is expected to close in Q4 of this year, is not subject to a financing condition, according to a news release.

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