Oaktree Leads Private-Credit Deal for Vista’s Duck Creek Buyout

A group of private-credit lenders led by Oaktree Capital Managementhas agreed to provide a $650 million loan to help support Vista Equity Partners’ take-private of insurance technology provider Duck Creek Technologies Inc., according to people with knowledge of the matter.

The debt financing, which will allow the sponsor to trim its prior equity contribution, is being discussed with pricing of about 750 basis points over the Secured Overnight Financing Rate and a discounted price of 97.5 cents on the dollar, said the people, asking not to be identified discussing a private transaction. The debt deal also includes ...