Deals
Ares, HPS Line Up $3 Billion Debt for Baxter Unit Bid
- Carlyle has been in talks to buy the Vantive kidney-care unit
- Carveouts have been an active opportunity for private credit
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A group of direct lenders including Ares Management Corp. and HPS Investment Partners is providing a $3 billion credit facility to finance Carlyle Group Inc.’s potential purchase of Baxter International Inc.’s kidney-care division, according to people with knowledge of the matter.
The debt package would include a $2.5 billion unitranche loan and a $450 million revolver, said the people, who asked not to be identified because terms are not public.