Vista’s KnowBe4 Cuts Borrowing Costs With Direct Loan Refinance

KnowBe4 Inc., a Vista Equity Partners-owned internet security platform, is cutting its borrowing costs by refinancing about $1.46 billion of private debt through the leveraged-loan market, according to people familiar with the matter.

A group of lenders led by JPMorgan Chase & Co. and KKR & Co. on Tuesday priced the offering for KnowBe4 with an interest rate of 3.75 percentage points over the floating-rate benchmark and at a discount of 99.75 cents on the dollar for the new seven-year loan, the people said.