Private lenders provide US$4.9bil for Adevinta buyout

Strong ties: A file picture of executives of Adevinta celebrating the firm’s first day of trading at the Oslo stock exchange in April 2019. Blackstone and Singaporean sovereign wealth fund GIC are among the biggest lenders in the buyout deal. — Reuters

OSLO: Private credit funds are providing a record €4.5bil (US$4.9bil) loan to back the buyout of Adevinta ASA, marking the latest win for a market that’s increasingly become the go-to funding source for private equity firms.

The Canada Pension Plan Investment Board, Blackstone Inc’s credit unit and Singaporean sovereign wealth fund GIC are among the biggest lenders in the deal, people with knowledge of the matter said.