Morgan Stanley Shops BetaNXT Deal to Refinance Private Debt

Morgan Stanley is sounding out investors for $950 million of leveraged loans to refinance software platform BetaNXT Inc.’s debt, according to people familiar with the matter, the latest example of activity shifting between private credit and the broadly syndicated market.

The proposed loans would refinance debt initially secured from private creditors including BC Partners after a group of banks led by Goldman Sachs Group Inc. were unable to syndicate the debt in 2023.