Ares Leads $1.2 Billion Refinancing Deal for CentralSquare
- The debt package includes a term loan and preferred equity
- It refinances CentralSquare’s broadly syndicated debt
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Private credit firms led by Ares Management Corp. are providing a more than $1.2 billion debt package to software developer CentralSquare Technologies to refinance its debt, according to people with knowledge of the matter.
The financing includes a $1.1 billion direct term loan that priced at 6 percentage points above the Secured Overnight Financing Rate, and a roughly $125 million revolver, said the people, who asked not to be identified discussing a private transaction.