Santander Sells $1.5 Billion Verint LBO Loan at Sweetened Terms

A group of banks led by Banco Santander priced, at sweetened terms, a loan tied to Thoma Bravo’s take-private of Verint Systems Inc., a rare example of a struggling buyout financing in the midst of a corporate-lending boom.

The $1.5 billion loan for Calabrio, a company Thoma Bravo plans to merge with Verint, priced Friday at the last revised steeper discounted price of 95 cents on the dollar, according to a person with knowledge of the matter. The change in pricing follows other revisions to the Verint debt package that will leave the banks holding a separate $1.2 ...