Carlyle-Backed Defense Contractor Pulls $2.3 Billion Loan Sale

Defense and cybersecurity contractor ManTech International Corp. scrapped a planned $2.3 billion leveraged loan sale amid weak demand, according to people with knowledge of the matter, opting to raise funds from private credit lenders instead.

JPMorgan Chase & Co. launched the financing effort earlier this month, but the deal failed to close after the Nov. 20 deadline passed. Investors expressed concern over US efforts to rein in government spending and broader credit-market volatility, said the people, who asked not to be identified because they’re not authorized to speak publicly.