Thoma Bravo has faced a tougher-than-expected refinancing process for cybersecurity company Proofpoint, as lenders demand higher returns and stronger protections amid growing concerns over the impact of artificial intelligence on the software sector, according to a report by Financial Times.
Proofpoint, which the private equity firm acquired for more than $12bn in 2021, has been seeking to refinance approximately $5bn of debt through an amend-and-extend transaction that would push maturities out...
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