Clearlake’s BetaNXT Cuts Private Loan Add-On to $170 Million

Clearlake Capital’s financial technology company BetaNXT cut the size of its private debt offering by $15 million to $170 million, according to a person with knowledge of the matter.

• The deal was structured as a fungible add-on to a $750 million private loan
• The facility matures in July 2029, with the interest rate 5.75 percentage points above benchmark
• The add-on priced at 97 cents on the dollar
  • Compares with initial talk of 97 cents to 97.50 cents
• Bank of America is the transaction’s arranger
• Read More: Clearlake’s BetaNXT Seeks $185 Million Private Loan Add-On

--With assistance from Gowri Gurumurthy ...