Thoma Bravo Loan Takes Fresh Aim at Lender Power
Buyout firm secures unusual creditor concessions on competitive deal
This article is for subscribers only.
Welcome to Going Private, Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at Apollo’s record-breaking earnings, two contrasting takes on Chinese investment prospects and why one elite investor thinks equity is currently a better bet than credit. But first we explore some private credit loan concessions that hint at a looming power struggle between lenders and buyout firms. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net
It’s a borrower’s market and some private equity firms are moving to take full advantage.