PSP, Oaktree Among Direct Lenders Buying $2 Billion Hologic Debt

Canada’s PSP Investments, Oaktree Capital Management, Franklin Templeton and other private lenders snapped up about $2 billion of subordinated debt that banks had committed to after financing Blackstone Inc. and TPG Inc.’s buyout of Hologic Inc., according to people with knowledge of the matter.

Other lenders involved include Palmer Square Capital Management, Oak Hill Advisors, Sona Asset Management, Lord Abbett and Blackstone’s own credit unit, said the people, who asked not to be identified discussing confidential information. The debt — part of a wider $12.25 billion package backing the medical device-maker’s acquisition — will pay 5 percentage points over the floating-rate benchmark, at a discount price of 99 cents on the dollar, they added.