Thoma Bravo Backs Auctane Merger with $5B Financing

Thoma Bravo is backing a merger involving Auctane with a $5B cov-lite unitranche financing. The financing is structured as a single tranche, and the cov-lite terms indicate fewer lender restrictions than traditional leveraged loan documentation.

Auctane operates in the enterprise-software sector, and the transaction is described as a merger supported by this unitranche capital package.