JPMorgan Beats Private Credit in $2.5 Billion Debt Deal for SoftBank-backed Cohesity
- Financing will help Cohesity combine with a Veritas unit
- Oak Hill and Apollo had pitched a private credit package
This article is for subscribers only.
JPMorgan Chase & Co. beat private credit lenders to provide around $2.5 billion in debt financing to support Cohesity Inc.’s proposed acquisition of a unit of Veritas Technologies, according to a person with knowledge of the matter.
A group led by Oak Hill Advisors and Apollo Global Management Inc. had offered a competing financing proposal to the data-management software company, people with knowledge of the matter said, asking not to be named discussing a private transaction.