-- Private credit lenders and banks are competing to provide debt financing for a potential buyout of education software provider PowerSchool Holdings Inc., according to people with knowledge of the matter.Tesla Shareholder Group Slams Elon Musk’s $56 Billion Pay Package
Representatives from Ares, Blackstone, Blue Owl and HPS declined to comment. PowerSchool said in an emailed statement that it doesn’t comment on rumors and speculation.The amount of funded debt private lenders have discussed providing would be well over seven times PowerSchool’s earnings, the people said, a level banks may have a hard time matching because of regulatory constraints. Preferred equity is often used to fill that gap in bank-led financings.
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