Citrix Parent Aims to Revise Second Loan in Market’s Record Year
- Software firm aims to reprice $1 billion loan from March
- Nearly 70% of market’s record volume have entailed repricings
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Citrix Systems Inc.’s parent is seeking its second leveraged-loan repricing of 2024, part of a record year of such activity as the market has topped $1 trillion of deals for the first time.
Cloud Software Group Inc. is looking to reprice a loan obtained in March to partially repay preferred equity. Initial talk for the repricing would be interest as little as 3.75 percentage points above the Secured Overnight Financing Rate, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly.