Record $4.8 Billion Private Loan Refinances Vista’s Finastra
- Finastra cuts pricing on unitranche loan due to hefty demand
- Blue Owl, Oak Hill, Ares and HPS are among lenders in the loan
Simon Paris, CEO of Finastra
Photographer: Patrick T. Fallon/AFP/Getty Images
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Private credit behemoths including Blue Owl Capital and Oak Hill Advisors are providing a record $4.8 billion fully funded direct loan as part of Vista Equity Partners’ refinancing of fintech firm Finastra Group Holdings Ltd.’s debt, people with knowledge of the matter said.
The private loan is structured as a unitranche, a blend of senior and subordinated debt. The deal will be the largest such direct loan when it closes, said the people, who asked not to be named because details are private. Last year saw a $4.95 billion private financing for Zendesk Inc., but that included a $850 million delayed-draw term loan component.