Private Credit Firms Near $2 Billion Debt Deal for Alteryx LBO

Bloomberg02-08

(Bloomberg) -- A group of private-credit firms that includes Apollo Global Management Inc. and Blackstone Inc. is close to finalizing a $2 billion debt package that will help finance the buyout of ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPrivate Credit Firms Near $2 Billion Debt Deal for Alteryx LBO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-08 04:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/private-credit-firms-near-2-202456924.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- A group of private-credit firms that includes Apollo Global Management Inc. and Blackstone Inc. is close to finalizing a $2 billion debt package that will help finance the buyout of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/private-credit-firms-near-2-202456924.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BKVL7J92.USD","symbol_name":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","start_time":0,"source_url":"https://finance.yahoo.com/news/private-credit-firms-near-2-202456924.html","article_id":"2409786877","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Cj4w_9hK03jlf_sUztJTDw--~B/aD0xNzg7dz0zNTI7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/bloomberg_markets_842/1b8f4e4095b68480bd5fa35a8cf608db"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2409786877","pubTimestamp":1707337496,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- A group of private-credit firms that includes Apollo Global Management Inc. and Blackstone Inc. is close to finalizing a $2 billion debt package that will help finance the buyout of software developer Alteryx Inc. by Clearlake Capital and Insight Partners, according to people with knowledge of the matter.Tesla Asks Which Jobs Are Critical, Stoking Layoff Fears. Haley Loses Nevada Primary to ‘None of These Candidates’ Option. China Replaces Top Markets Regulator as Xi Tries to End Rout. US Commercial Real Estate Contagion Is Now Moving to Europe. Citadel Among Hedge Funds That Got Morgan Stanley’s Block-Trading Leaks. The lenders are also expected to provide a revolver of about $200 million, the people said, though the discussions are ongoing and the details could change. Representatives for Blackstone, Blue Owl, Sixth Street and Apollo declined to comment. Spokespeople for Clearlake, Insight and Alteryx did not reply to requests for comment.But as conversations went on, the structu","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","MS":"摩根士丹利","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","AYX":"Alteryx Inc.","BK4581":"高盛持仓","BK4504":"桥水持仓","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","BK4127":"投资银行业与经纪业","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4023":"应用软件","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0106831901.USD":"贝莱德世界金融基金A2","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4588":"碎股","BX":"黑石","LU0971096721.USD":"富达环球金融服务 A","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD"},"translate_title":"私人信贷公司收购Alteryx杠杆收购近20亿美元债务交易","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BX":0.9,"AYX":0.9,"MS":0.72},"content_text":"(Bloomberg) -- A group of private-credit firms that includes Apollo Global Management Inc. and Blackstone Inc. is close to finalizing a $2 billion debt package that will help finance the buyout of software developer Alteryx Inc. by Clearlake Capital and Insight Partners, according to people with knowledge of the matter.\nMost Read from Bloomberg\n\nTesla Asks Which Jobs Are Critical, Stoking Layoff Fears\nHaley Loses Nevada Primary to ‘None of These Candidates’ Option\nChina Replaces Top Markets Regulator as Xi Tries to End Rout\nUS Commercial Real Estate Contagion Is Now Moving to Europe\nCitadel Among Hedge Funds That Got Morgan Stanley’s Block-Trading Leaks\n\nBlue Owl Capital Inc. and Sixth Street Partners are also among the lenders involved in talks to participate in a $1.8 billion seven-year term loan, said the people, who asked not to be identified as the details are private. The debt is expected to be priced at around 6.5 percentage points above the Secured Overnight Financing Rate and at a discounted price of 98 cents on the dollar, they said. \nThe lenders are also expected to provide a revolver of about $200 million, the people said, though the discussions are ongoing and the details could change. Representatives for Blackstone, Blue Owl, Sixth Street and Apollo declined to comment. Spokespeople for Clearlake, Insight and Alteryx did not reply to requests for comment.\nThe financing discussions have been underway since late last year as Clearlake and Insight planned the takeover of the analytics software company. The purchase was announced in mid-December and valued the company at $4.4 billion. \nAt the time, Clearlake and Insight were asking lenders for a recurring revenue loan, which links the terms to certain revenue targets instead of the typical income-based ones. That type of loan became popular in recent years as part of a flurry of private equity takeovers in the software industry, where companies can be unprofitable for years as they spend cash to fuel growth. \nBut as conversations went on, the structure of the package soon changed into a corporate loan where the key metrics are earnings before interest, taxes, depreciation and amortization, the people said.\n--With assistance from John Sage.\nMost Read from Bloomberg Businessweek\n\nInside a Private Jet Club Where Everything Went Wrong\nThe Story Elon Musk Doesn’t Want to Talk About\nLayoffs Show That Tech Jobs Aren’t Sacred Anymore\nHSBC’s New ‘Wise Killer’ App Vies for FX Customers\nThe Person I Hired Is Now My Boss. What Happens Now?\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2409786877"}