Centerbridge Partners has secured nearly $1.4bn in private credit to support its $2bn acquisition of financial software firm MeridianLink, highlighting the expanding role of direct lenders in large-cap buyouts.

According to Bloomberg, the debt financing is being evenly provided by Goldman Sachs Asset Management, Blackstone, Ares Management, Blue Owl Capital, and Antares Capital. 

The package includes a $960m term loan, a $250m delayed-draw term loan, and a $150m revolving credit facility. It carries a margin of 475 basis points over the benchmark and matures in seven years.

This transaction underscores private credit’s increasing dominance in major private equity deals, particularly as competition with traditional bank lenders intensifies amid a subdued M&A landscape. 

Other notable private credit transactions in recent weeks include Thoma Bravo’s $3bn refinancing for Flexera and Advent International’s nearly $1bn take-private of Sapiens International.

Centerbridge announced its agreement to acquire MeridianLink in July. The software firm provides digital solutions to financial institutions and consumer reporting agencies.

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