Banks Kick Off $2.1 Billion Loan Package for Darktrace LBO (1)

Bucking the drought of new issues in the leveraged loan market, banks led by Goldman Sachs Group Inc. have launched a $2.145 billion debt package to support Thoma Bravo’s buyout of AI cybersecurity company Darktrace Plc.

The debt consists of a $1.685 billion first lien term loan and a $460 million second-lien loan, according to people familiar with the matter. Price talk has yet to be announced on both loans and a lender call will be held June 20 at 10 a.m. New York time, said the people, who asked not to be identified because the information is private. ...