Quorum Software locked in lower borrowing costs on a private credit loan thanks to strong demand from direct lenders that exceeded more than six times the amount of money the company asked for, according to people with knowledge of the matter.
The software provider for the oil and gas industry closed an $865 million unitranche deal in early November, the people said, asking not to be identified discussing a private transaction. Direct lenders put in orders for more than $6 billion of debt, they added.
