Blackstone-Led Private Credit Group Prepares Medallia Takeover With $100M+ Injection

According to Bloomberg, Blackstone-led private credit investors are preparing to take control of Medallia by injecting at least $100 million and converting much of a $2.8 billion loan into equity. The restructuring would eliminate approximately $5 billion invested by Thoma Bravo and co-investors after taking the U.S. software company private in 2021.
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