Quorum Software Secures $865 Million Loan Amidst Overwhelming Lender Demand

Thoma Bravo’s Quorum Software has recently made headlines. They’ve secured a new loan with lower borrowing costs. How did they pull this off? Strong demand from direct lenders played a big role.

Apollo led the charge with an impressive $865 million unitranche loan. This means they provided a single loan that combines senior and subordinate debt. But here’s the kicker: orders for this deal exceeded $6 billion.

That’s right! The interest from lenders was more than six times what Quorum was looking for. This kind of demand is a clear sign of confidence in the company.

Quorum, which specializes in software for the oil and gas industry, finalized this deal in early November. Sources familiar with the transaction shared these details, although they preferred to remain anonymous.

In summary, Quorum Software is in a strong position thanks to this favorable loan arrangement. The backing from lenders indicates a solid future ahead.