Clayton Dubilier & Rice and TPG are in discussions with private credit firms, including Blue Owl Capital, to raise at least $2.5bn of debt to refinance portfolio company Covetrus, according to a report by Bloomberg citing people familiar with the matter.
The proposed financing would be used to refinance approximately $2bn of existing debt and support a potential add-on acquisition. The sponsors are also considering an additional equity injection as part of the transaction, which remains unde...
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