Santander Sweetens Pricing on $1.5 Billion Verint Buyout Loan

A group of banks led by Banco Santander has sweetened terms on a loan tied to Thoma Bravo’s take-private of Verint Systems Inc., a rare example of a faltering buyout financing in the midst of a corporate-lending boom.

The banks are offering a steeper discounted price of 95 cents on the dollar on a $1.5 billion loan, according to a person with knowledge of the matter. The change in pricing follows other revisions to the debt package that will leave the banks holding a separate $1.2 billion so-called “last-out” term loan, Bloomberg previously reported.

Debt investors are ...