Clearlake set to secure $5.5B in private credit for Dun & Bradstreet acquisition – report

Investment firm Clearlake Capital Group is nearing raising $5.5B in private credit to finance its acquisition of Dun Bradstreet Holdings (NYSE:DNB), according to a Wednesday media report.

The financing — which is expected to close imminently — is led by Ares Management (ARES), with Morgan Stanley (MS) joining as an arranger, Bloomberg reported, citing people with knowledge of the matter.

The private debt package includes a $5B funded term loan and a $500M revolving credit facility, the people added, noting the loan carries a spread of 550 basis points over the Secured Overnight Financing Rate and will be issued at 99 cents on the dollar.

The funding will take out a 364-day bridge loan Clearlake arranged with banks in place of the more conventional long-term leveraged buyout financing, the article said. Ares (ARES) was also involved in the bridge, which was led by Morgan Stanley (MS).