Clearlake’s BetaNXT Seeks $185 Million Private Loan Add-On

Clearlake Capital’s financial technology company BetaNXT is looking to raise an additional $185 million of private debt to help pay for two recent acquisitions, according to a person with knowledge of the matter.

• The deal is 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 is likely to be priced between 97 cents and 97.50 cents on the dollar, with commitments due Nov. 24
  • Bank of America is the transaction’s arranger
• Proceeds will be used to bring Mediant and Delta ...