Veritas Looks to Reduce Exposure to Private Loan for Medallia

Veritas Capital is looking to reduce its stake in a private credit loan that financed Thoma Bravo’s buyout of Medallia Inc., according to people with knowledge of the matter.

Direct lenders have been approached about their interest in buying a chunk of the loan, which was arranged as a $1.8 billion deal in 2021 by a group of firms led by Blackstone Inc., said the people, who asked not to be identified because the discussions are private. The loan hasn’t traded since it was originated and Veritas has not yet completed any trades, one of them said. ...