Blackstone Leads $1.5 Billion Financing for Baker Tilly Merger

Blackstone Inc. led a private credit deal of around $1.5 billion to support Baker Tilly’s merger with Moss Adams, according to a person with knowledge of the matter.

The new debt consists of a $925 million term loan, a $400 million delayed draw term loan and a $130 million revolving credit facility, said the person, who asked not to be identified discussing private information. The financing is alongside $1 billion of privately placed existing debt, they said.