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Goldman’s Private-Credit Arm Steps In With Loan for CDK Buyout

  • $865 million second-lien debt replaces planned unsecured bond
  • Lenders are winning deals as junk bonds get harder to sell


Photographer: Daniel Acker/Bloomberg

Goldman Sachs Group Inc. found the perfect buyer for the riskiest piece of a $5.9 billion buyout financing: its own asset management division. 

The lender is providing a $865 million second-lien loan to help fund Brookfield Asset Management’s acquisition of auto-dealership software company CDK Global Inc.