Apollo Global Management Inc. and Silver Point Capital led a roughly $900 million direct loan to Vantage Specialty Chemicals to replace the company’s existing bank-arranged financing, according to people with knowledge of the matter.
Oak Hill Advisors also helped provide the funding, said one of the people, who asked not to be identified discussing private information. Vantage, based in Illinois, is owned by H.I.G. Capital. The private equity firm created the chemicals manufacturer in 2008 through a carveout, sold it in 2012, and bought it back in 2017.
The transaction marks the latest loan to pivot to private credit after ...
