Sixth Street Leads $2.6 Billion Loan for Coupa Buyout
- Debt backs Thoma Bravo’s winning bid for software firm
- HPS, Oaktree and Apollo are also part of the lending group
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Investment firm Sixth Street Partners is leading a large group of direct lenders for a $2.6 billion loan to help finance Thoma Bravo LLC’s buyout of Coupa Software Inc., according to people with knowledge of the matter.
HPS Investment Partners LLC, Oaktree Capital Group LLC, Apollo Global Management Inc. and Blackstone Inc. are among the other big lenders on the financing, said the people, who aren’t authorized to speak publicly. The deal includes a $2.44 billion seven-year term loan and a $150 million six-year revolver that pay 7.5 percentage points over the secured overnight financing rate, they said.