Golub Capital Leads $3.4 Billion Unitranche Facility For Hyland Software

Press Release
September 20, 2023

NEW YORK, September 20, 2023 — Golub Capital acted as Administrative Agent, Left Lead Arranger and Joint Bookrunner on a $3.4 billion unitranche facility for Hyland Software (“Hyland”). The proceeds will be used to refinance Hyland’s existing broadly syndicated debt which is made up of a first lien loan, second lien loan and revolving credit facility. 

Hyland provides enterprise content management software to corporate clients worldwide and has been a portfolio company of Thoma Bravo since 2007. 

“We are excited to provide leadership on a compelling private financing solution to Hyland, a premier provider of B2B software backed by a premier sponsor,” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “We were able to offer an efficient execution at a competitive rate in support of the company’s financing needs.”  

The unitranche facility includes a $3.25 billion term loan and a $150 million multi-currency revolver. 

“The speed and certainty of working with Golub Capital on this transaction is a testament to the Firm’s depth of unitranche experience and software expertise,” said Erwin Mock, Managing Director and Head of Capital Markets at Thoma Bravo. 

In the past 12 months1, Golub Capital has completed more than 55 platform and add-on transactions with software and technology companies. The Firm acted as a lead agent in over 85% of these deals. 


About Golub Capital Sponsor Finance 

Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $700 million and arranges syndicated credit facilities up to $2 billion. 

As of July 1, 2023, Golub Capital had over 825 employees and over $60 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in Chicago, New York, San Francisco and London. For more information, please visit golubcapital.com.  


About Hyland 

Hyland providesindustry-leading technology foundations that empower its customers to create better human connections. Trusted by thousands of organizations worldwide, including more than half of the Fortune 100, Hyland’s intelligent solutions seamlessly integrate content, data and processes to improve each interaction. 


About Thoma Bravo 

Thoma Bravo is one of the largest software investors in the world, with more than US$131 billion in assets under management as of June 30, 2023. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector expertise and strategic and operational capabilities, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20 years, the firm has acquired or invested in more than 440 companies representing over US$250 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo’s website at thomabravo.com. 

  1. As of July 1, 2023.
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