Software Firm Fortna Sees Loan Hit New Low on Liquidity Concerns

Fortna Inc.’s loan sunk to new lows after the warehouse automation and software provider released earnings showing a large capital use, sparking liquidity concerns, according to people familiar with the matter.

• Its roughly $1.4 billion term loan due in 2029 was quoted at around 40 cents on the dollar on Thursday, down from about 53.25 earlier in the day, said other people familiar with the bank runs on the name
• Thomas H. Lee Partners, a private equity firm focused on middle market growth firms, controls the company
• A spokesperson for THL declined to comment, while a company representative ...