US LevFin Wrap — Rally brings Citrix, aerospace and car rental companies off the sidelines
- David Bell
- +Bill Weisbrod
- + 1 more
It’s not surprising to see a burst of primary supply after a dramatic drop in rates and two weeks of near-record fund inflows, but we’d guess only a few folks had a Citrix dividend recap in their 2023 bingo card.
The software company, now combined with TIBCO and renamed Cloud Software Group, raised $1bn in the loan market this week to repay expensive preferred equity that backed its buyout by Elliott Investment Management and Vista Equity Partners in 2022.