Private credit investors are increasingly reluctant to underwrite a $2.5bn refinancing for cybersecurity firm Sophos, a portfolio company of Thoma Bravo, marking a sharp reversal from last year’s aggressive lending appetite for software-backed deals, according to a report by Bloomberg.
The refinancing process, which is being explored to extend maturities ahead of a 2027 debt deadline, has encountered pushback from several private credit funds despite offers of significantly higher yields. The co...
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