DocuSign Buyout Attempt Gives Battered Tech Debt Market a Boost
- The market for zero-coupon tech debt is surging again
- M&A activity could be driver for a re-rating: RBC BlueBay
Photographer: Tiffany Hagler-Geard/Bloomberg
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A multi-billion dollar buyout attempt of DocuSign Inc. is giving the battered market for tech debt a fresh boost.
Private equity firms Bain Capital and Hellman & Friedman are competing to snap up the electronic signature platform, and already direct lenders and banks are vying to fund the deal with a debt package totaling as much as $8 billion. Bets on a broader resurgence of tech mergers and acquisitions are now driving up bond prices in the sector.