Vista’s Alegeus in Talks With Private Lenders for New Debt (1)

A group of private credit firms including 26North Partners are closing in on a deal to lend to Vista Equity Partners-backed Alegeus Technologies, after the software firm tried to refinance existing debt with a new leveraged loan.

Bank of America Corp. shelved a $525 million broadly syndicated offering for Alegeus on Thursday, according to people with knowledge of the matter who asked not to be identified as the details are private. Some said potential investors, namely collateralized loan obligation managers — the largest buyers of institutional leveraged loans — were reticent to fund a large dividend as part ...