HPS Leads Over $3 Billion of Private Debt for Consumer Cellular

HPS Leads Over $3 Billion of Private Debt for Consumer Cellular

A group of private credit firms led by HPS Investment Partners provided more than $3 billion of debt to Consumer Cellular Inc. to refinance its broadly syndicated loans and pay a dividend to its private equity owner GTCR, according to people with knowledge of the matter.

HPS leads $3.4bn private credit Consumer Cellular deal

HPS Investment Partners has led a consortium of private credit providers in a more than $3bn financing package for US-based mobile network operator Consumer Cellular, in a deal that refinances existing debt and supports a shareholder distribution to its private equity sponsor GTCR, according to a report by Bloomberg. The deal, which comprises a $3.4bn term loan, a $200m revolving credit facility, and $525m in preferred equity, is understood to i…