“Liquidity is available for the right borrowers,” says Churchill's Randy Schwimmer, who is the founder and publisher of The Lead Left. Lenders aren’t adventurous with hold levels, but pricing has eased, and leverage is up, he reports.
The loan the largest-ever bridge loan in the technology sector, surpassing IBM's $20 billion financing in 2018 for its acquisition of Red Hat.
Antares, Carlyle, and Madison Capital are also raising debt funds.
Key responsibilities: Making value-added investments in growing lower middle market companies.