Software and technology focused private investment firm Vista Equity Partners, has entered into discussions with private credit funds over a $6 billion deal to refinance the debt of portfolio company Finastra Group Holdings Ltd, according to a report by Mergers & Acquisitions.
Software and technology focused private investment firm Vista Equity Partners, has entered into discussions with private credit funds over a $6 billion deal to refinance the debt of portfolio company Finastra Group Holdings Ltd, according to a report by Mergers & Acquisitions.
The report cites unnamed sources familiar with the matter as revealing that Vista is working with Oak Hill Advisors, Sixth Street Partners and Ares Management Corp as it looks to secure the funding in what could be the largest private credit financing ever.
With Finastra facing more than $4 billion of nearing debt maturities, two financing options are reportedly under consideration – a unitranche of between $5.3 billion and $5.4 billion, which would be the largest recorded deal of its type, combined with a junior debt element totaling $500 million to $700 million, and a $4 billion first-lien term loan and a $2 billion second-lien term loan, which would constitute the largest private financing ever.
