Blackstone is in talks with banks to amend and extend a $957m loan that backed its 2021 $1.6bn acquisition of Interplex Holdings from Baring Private Equity Asia, according to a report by Bloomberg.
The firm is looking to increase the loan size to as much as $997m and extend its maturity by five years beyond the current 2027 deadline, according to people familiar with the matter.
The discussions highlight the growing trend of private equity managers turning to Asian lenders for refinancing opportunities as exit activity slows. Strong appetite from regional banks is driving a wave of loan extensions and amendments across the sector.
Other private equity firms are following similar strategies. Carlyle is seeking a $1.2bn loan to refinance its buyout of Hexaware Technologies, while a Bain Capital- and Sona Asset Management-led consortium is marketing an A$700m ($454m) borrowing tied to a winemaker acquisition completed last year.
Interplex, headquartered in Singapore, manufactures precision-engineered components used in electric vehicles, the medical sector, and cloud computing.
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