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US LevFin Wrap — Rally brings Citrix, aerospace and car rental companies off the sidelines

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Market Wrap

US LevFin Wrap — Rally brings Citrix, aerospace and car rental companies off the sidelines

David Bell's avatar
Bill Weisbrod's avatar
William Hoffman's avatar
  1. David Bell
  2. +Bill Weisbrod
  3. + 1 more
5 min read

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.

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