TLDR:
– Ares Management is leading a group of private credit firms, including Oak Hill Advisors, in providing a debt package of over $1.2bn to CentralSquare Technologies for debt refinancing.
– The financing includes a $1.1m direct term loan, a roughly $125m revolving facility, and $330m of preferred equity.
Ares Management, along with other private credit firms such as Oak Hill Advisors, is spearheading a $1.2bn debt refinancing deal for CentralSquare Technologies, a software developer. This financing package includes a $1.1m direct term loan priced at 6 percentage points above the Secured Overnight Financing Rate, a revolving facility of approximately $125m, and $330m of preferred equity. The capital injection will be used by CentralSquare to refinance existing debt, including a $900m term loan and a $380m second lien loan. CentralSquare Technologies, which is backed by Bain Capital and Vista Equity Partners, is set to benefit from this strategic move to enhance its financial position.
