Private Lenders Offer $3 Billion Debt for Thoma Bravo’s Flexera

Private credit firms are lining up a debt package of around $3 billion to refinance software company Flexera Software’s broadly syndicated debt and support a dividend for the company’s private equity owner, Thoma Bravo, according to people with knowledge of the matter.

Lenders including Blackstone Inc., Blue Owl Capital Inc., Golub Capital and Antares Capital are pitching to arrange the financing, said the people, who asked not to be identified discussing private information. The deal hasn’t been finalized and plans could change, they said.

The Thoma Bravo-backed company has a $1.95 billion syndicated loan that is ...