Reported 5 months ago
Private credit lenders and banks are in a competition to provide debt financing for a potential buyout of education software provider PowerSchool Holdings Inc. A roughly $3 billion debt package is being sought, with direct lenders like Ares Management Corp., HPS Investment Partners, Blackstone Inc., and Blue Owl Capital Inc. among those vying to provide funding. PowerSchool has attracted interest from private equity firms like Warburg Pincus and Bain Capital, and financing terms are still being finalized. The amount of funded debt discussed exceeds seven times PowerSchool's earnings, and preferred equity may be used to bridge any financing gaps.
Source: YAHOO