AMERICAS DISTRESS DAILY: Clearlake Gets Deal for Quest Software

A deal to provide Clearlake Capital Group-backed Quest Software Inc. with $350 million of fresh capital to help fund its artificial intelligence and growth plans is coming at the expense of some lenders who will be pushed down the repayment line.

• Quest is looking to divvy its debt into several tiers with some creditors getting shoved further back in the restructuring
• Lenders who didn’t participate in the transaction, along with other junior creditors, will be ranked lower, according to people with knowledge of the matter, who asked not to be identified discussing a private matter.

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