Clearlake’s Quest Agrees Debt Deal, to Get $350M From Creditors

Clearlake Capital-backed Quest Software is set to receive a $350 million new loan from existing creditors to help fund the firm’s artificial intelligence and growth initiatives.

• Information from people familiar with the matter who asked not to be named because they aren’t authorized to speak publicly
• Quest and some of its lenders have been engaged in confidential talks to help bolster its cash reserves, Bloomberg previously reported
• Deal received backing from 90% of existing first-lien lenders and 65% of second-lien holders
• Representatives for Clearlake and Quest didn’t respond to request for comment
• Highlights of the plan:
  • Clearlake, which has ...