Blackstone Provides $1 Billion in Private Credit for BeyondTrust

Blackstone Inc. has provided a more than $1 billion private credit loan package for BeyondTrust, a cybersecurity company, according to people with knowledge of the transaction.

The financing includes an $880 million loan, which priced at among the tightest levels for a US company this year, according to market participants. Direct lenders have hundreds of billions of dollars to deploy at a time when yields have broadly started dropping across debt markets, which could push yields even lower.

The main unitranche loan that Blackstone provided pays 5 percentage points over the Secured Overnight Financing Rate and was sold ...