JPMorgan Beats Private Credit in $2.5 Billion Cohesity Debt Deal

JPMorgan Chase & Co. beat private credit lenders to provide around $2.5 billion in debt financing to support Cohesity Inc.’s proposed acquisition of a unit of Veritas Technologies, according to a person with knowledge of the matter.

A group led by Oak Hill Advisors and Apollo Global Management Inc.had offered a competing financing proposal to the data-management software company, people with knowledge of the matter said, asking not to be named discussing a private transaction.

Representatives for Cohesity, JPMorgan, Oak Hill, and Apollo declined to comment.

Cohesity, which is backed by investors including SoftBank Vision Fund and ...