Boomi obtains $975M 1st-lien loan alongside buyout

Boomi Inc. received a $975 million first-lien loan due 2028 in the recent quarter. Sixth Street was administrative agent.

Sixth Street Specialty Lending Inc.'s investment portfolio as of Dec. 31, 2021, included a $28.8 million (par value) piece of the financing. Pricing was Libor+775, for total interest of 8.50% PIK. Sixth Street also provided a revolver and an equity investment, Sixth Street Specialty Lending's 10-K showed.

"Boomi's high-quality scaled recurring revenue base with attractive retention characteristics follows our thematic approach to investing in industries where we have deep understanding and expertise," said Sixth Street President Robert Stanley on a Feb. 18 shareholder call.

Francisco Partners and TPG Capital acquired Boomi from Dell Technologies in 2021. Boomi provides cloud-based integration platform as a service.