Banco Santander (SAN)-led banks will keep about $1.2 billion of debt from Thoma Bravo's $2.7 billion Verint Systems (VRNT) buyout after struggling to sell it, Bloomberg reported Wednesday.

The financing package includes a $1.5 billion first-lien loan, priced around 4 points over the benchmark at 97 to 98 cents, and is set for syndication with commitments due Oct. 14, according to the report.

Bloomberg said Thoma Bravo intends to combine Verint Systems with its portfolio company Calabrio, both specializing in call-center technology, as AI disruption concerns rise.

The buyout coincides with Thoma Bravo raising $5.5 billion in leveraged loans to buy HR software firm Dayforce (DAY), it added.

Shares of Banco Santander fell about 1.3% in recent Wednesday trading, while Verint Systems was down around 0.1%.

Banco Santander and Verint Systems did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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