KKR & Co has stared down the prospect of a Moody’s downgrade at its accounting software business MYOB, signing off on a $1.2 billion refinancing loan and bringing in a new group of global private lenders believed to include New York-headquartered Apollo Global Management.
Street Talk understands the new loan, arranged by UBS and KKR Capital Markets, is structured as a uni-tranche term loan over five years, shifting from US and Australian dollar Term Loan Bs.
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