Veritas-Backed Software Firm Seeks $5.7 Billion Debt Refinancing
THE SO WHAT
A $5.7 billion leveraged loan refi from a PE-owned software firm is a reminder that a big slice of the software stack is now a credit story, not an equity one. If you depend on legacy vendors with heavy debt loads, add covenant pressure and refinancing risk to your vendor diligence — outages and price hikes often follow balance-sheet stress.
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