Blog Post
Octus on Credit: Lender groups go jumbo for debt financings
Paola Aurisicchio, Choef Correspondent, Large Cap Private Credit
Jumbo groups of ten or more private lenders have returned to the market in full force, backing several multi-billion debt financings in the technology sector. The shift from smaller groups to broader syndicates reflects both the strong appetite among direct lenders to deploy fresh capital and a growing confidence in high-quality credit opportunities.
Just recently, a KKR-led group of more than 20 lenders arranged a $2.85 billion debt financing package to support a refinancing effort for Thoma Bravo-backed IT management software provider Flexera, Octus reported. Similarly, a group of 10 private lenders, including Apollo Global Management and Blackstone Credit, contributed to a $4 billion debt financing package to back Thoma Bravo’s $10.55 billion leveraged buyout of Boeing’s Jeppesen navigation unit and other subsidiaries.
In the pipeline is Enverus. In early August, Octus reported that several private lenders were working to provide a $3.4 billion in debt financing to back the deal. As the market heads into September, sources anticipate continued activity in these types of transactions, with deal flow expected to gain momentum and transaction sizes continuing to grow.
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