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Updated · Bloomberg · May 7Blackstone-led group injects $100 million into Medallia and converts debt to equity
2 articles · Updated · Bloomberg · May 7
- The investors plan to swap a large portion of Medallia's $2.8 billion loan into equity, taking control of the software maker.
- The restructuring is designed to cut Medallia's debt burden while providing at least $100 million in fresh funding.
- The deal would hand ownership to private credit lenders, underscoring how debt investors can take over companies through restructurings.
Is Medallia's collapse the first domino to fall in the private credit software bubble? With bankers now in charge, can Medallia's AI platform survive against nimbler tech rivals?