FinTech Finastra’s record-breaking $7.3 billion private loan

Finastra, a FinTech enterprise owned by Vista Equity Partners, has secured approximately $7.3 billion (US$5.32 billion) private loan package in a deal that marks the largest ever private credit deal in the United States.

The loan includes a $4.82 billion senior secured unitranche term loan facility and a $500 million senior secured multicurrency revolving credit facility and involved more than twenty lenders and borrowers in multiple jurisdictions, including Oak Hill Advisors, Blue Owl Capital, and HPS Investment Partners.

McCarthy Tétrault LLP, Davis Polk & Wardwell LLP, and Walkers acted as Canadian, US, and Cayman Islands legal counsel, respectively, to the administrative agent, lead arrangers and lenders.

Goodmans LLP and Lawson Lundell LLP acted as Canadian legal counsel to Finastra while Kirkland & Ellis LLP and Maples Group served as US and Cayman Islands legal advisors, respectively.

The Goodmans team, led by Dan Dedic and Michelle Vigod, included Samara Friszman, Maureen Buckley, Matthew Erdman, Chris Armstrong, Amalia Berg, and Michael Hassar.