Market Chatter: Ares Management Leads $400 Million Loan Deal to Support CVC Capital's Stake Purchase in Chess.com
MT Newswires Live
6 hours ago
Ares Management (ARES) led a $400 million private credit loan deal to facilitate CVC Capital Partners' acquisition of a stake in Chess.com, Bloomberg reported Monday, citing people familiar with the matter.
The loan was priced at around 6 percentage points over the benchmark rate, according to the report.
Ares Management did not immediately respond to a request for comment from MT Newswires.
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