Details emerge on Blackstone deals, including Guidehouse, Stamps.com

Blackstone Credit, which in recent months has led some of the private credit market's largest-ever transactions, released details about these deals.

Information is as of Dec. 31, 2021. Closing dates are in brackets.

Auctane (formerly Stamps.com): Blackstone Credit committed to a majority of a $2.6 billion first-lien debt financing backing the take-private buyout by Thoma Bravo. [July 2021]

Guidehouse: $2.85 billion first-lien facility comprised a $2.65 billion first-lien term loan and $200 million revolver. Pricing at Libor+5.50% (75 bps floor, OID 1.00%). Call protection. Blackstone Credit's share was $1.9 billion, split as $1.77 billion first-lien term loan and $133.6 million revolver.

Proceeds backed Guidehouse's acquisition of The Dovel Group and paid a shareholder dividend. Guidehouse is a portfolio company of Veritas. [October 2021]

BioAgilytix: Blackstone Credit provided a $985 million first-lien credit facility, including a delayed draw term loan and revolving credit. Proceeds backed an acquisition of company by Cinven. Features call protection. [December 2021]

Inovalon: Blackstone Credit provided $1.7 billion of a $3.3 billion financing packaging backing a take-private buyout of the company by a consortium led by Nordic Capital. Financing led by Blackstone comprised a $2.3 billion first-lien term loan, $250 million delayed draw term loan, and $660 million second-lien PIK loan. Pricing on the first-lien loan is L+625 (75 bps floor, OID 2.50%). Blackstone Credit also committed $81 million of an equity coinvestment. The financing includes call protection. [November 2021]

Bazaarvoice: Total $875 million first-lien debt package backing an acquisition of the company by Thomas H Lee Partners LP. Pricing on the $700 million first-lien unitranche term loan was L+575. Financing package included a $100 million delayed draw term loan and a $75 million revolver. The deal includes call protection. [May 2021]

Davies Group: Total £822 million first-lien debt financing, comprising a £472 million first-lien term loan and a £350 million delayed draw term loan. Pricing is SONIA+700, with a 3% original issue discount. Features call protection. [August 2021]

Cambium Learning Group: Total $2.15 billion first-lien facility, comprising a $2 billion first-lien term loan (Libor+550, 75 bps floor, OID 1%) and $150 million revolver. Blackstone provided $1.8 billion of the $2.15 billion total, split as $1.65 billion of the first-lien and the entire revolver. Proceeds backed a dividend recapitalization. Cambium is a portfolio company of Veritas Capital. The deal includes call protection. [July 2021]

Alliance Ground International: Blackstone Credit provided the majority of a first-lien debt package backing a 50-50 acquisition of the company by Audax Group and Greenbriar Equity. Pricing on the first-lien is L+550, with a 75 bps floor and 2% original issue discount. The deal includes call protection. [June 2021]

SelectQuote: In February 2021, Blackstone Credit provided $121 million of an add-on and $78 million of a delayed draw term loan. The Morgan Stanley-led deal was repriced to L+500 (75 bps floor, OID 0.75%) from the initial deal in 2019 (L+600, 100 bps floor, 3.5% OID) and included an add-on and delayed draw term loan component.

SAM: Blackstone committed to providing a $190 million first-lien term loan (L+550, 1% floor, 2% OID), $80 million delayed draw term loan and $30 million revolving credit. Proceeds backed the purchase of the company by Peak Rock Capital. [September 2021]