Singapore’s Temasek Holdings Pte and KKR & Co. have joined a loan deal for Silver Lake Management LLC’s TEG Pty Ltd., according to people familiar with the matter, who asked not to be identified discussing a private matter.
The unitranche loan of around A$950 million ($850.3 million) has a five-year tenor and a margin of 550 basis points, one of the people said, in line with Bloomberg’s report in November.
Australia-based TEG is a company that sells tickets to concerts, musicals and sporting events with operations in countries such as Australia, the UK and Singapore. The dividend recapitalization transaction would give Silver Lake Management a payout after talks to sell TEG earlier this year stalled.
Temasek, KKR, Silver Lake and TEG declined to comment when contacted by Bloomberg.
The Australian Financial Review reported the involvement of the two firms earlier. The deal includes a US$130 million ($173.2 million) revolving credit facility on top of the A$950 million loan, it said.
