Reported 6 months ago
KKR & Co. has secured a A$200 million private credit loan for MYOB Ltd., an Australian accounting software firm acquired by the private equity firm in 2019. The loan includes a payment-in-kind element for interest capitalization and carries a margin of 525 basis points over the Australian benchmark rate. This deal is part of the growing global private credit market, offering higher returns compared to mainstream lending. The loan will be used to repay junior debt and fund an earnout arrangement related to MYOB's acquisition of Flare in 2022. KKR declined to comment on the matter.
Source: YAHOO