PluralSight raised new preferred equity financing and conducted a drop-down transaction that involved sponsor Vista Equity Partners moving intellectual property from the company to an unrestricted subsidiary, according to sources.
Direct lenders in 2021 provided a $1.175bn recurring revenue term loan and $100mn revolver to support Vista’s buyout of the company. Pricing is S+800, BDC filings show.
Among lenders are Blue Owl Capital, which served as administrative agent on the original loan, Ares, Goldman Sachs Asset Management, Benefit Street Partners, BlackRock, Oaktree and Golub Capital.
The lender group engaged Centerview and Davis Polk, LFI reported last month.
Pluralsight is a technology workforce development company that helps organizations and employers to provide educational technology skills and training.
Krista Giovacco
Senior Reporter
LevFin Insights