KKR Signs A$200 Million Private Credit Loan for Australia's MYOB.

Private equity firm KKR & Co. has signed a deal for a A$200 million ($133 million) loan for MYOB Ltd., an Australian accounting software company that KKR acquired in 2019. The loan will include a payment-in-kind element, allowing the borrower to add the interest cost to the principal amount. The loan will have a margin of 525 basis points over the Australian benchmark rate, with the potential to rise to 575 points if MYOB exercises the payment-in-kind option. The loan will be used to repay a junior debt tranche and finance an earnout arrangement for MYOB's acquisition of Flare, a human resources fintech company. [Extracted from the article]