Blackstone Deploys Private Credit to Take Out Signant Loans
The Blackstone headquarters in New York.
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Blackstone Inc. is leading a private credit financing for life-sciences company Signant Health to replace more than $1 billion in bank-led leveraged loans, according to people familiar with the transaction.
The debt package for the digital product management provider for clinical trials will include a unitranche loan, a delayed-draw term loan and a revolving credit facility, said the people, who requested anonymity to discuss a private matter. The debt is being offered at 4.75 percentage points over the Secured Overnight Financing Rate, they said.
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