Blackstone, Ares Lend $3.6 Billion to Finance Warburg Pincus' Acquisition of Park Place Technologies

Blackstone and Ares are providing $3.6 billion in private debt to finance Warburg Pincus' acquisition of Park Place Technologies. The deal includes a $2.9 billion unitranche loan, a $300 million delayed-draw term loan, and a $400 million revolving credit facility, priced at 4.5 percentage points over the US benchmark rate. Ares serves as administrative agent, and Blackstone was a large lender on Park Place's previous debt.