03:00 PM EST, 12/12/2024 (MT Newswires) -- Ares Management ( ARES ) and Blackstone (BX) are teaming up to provide a $1.43 billion-equivalent private credit loan package to Swedish property manager Odevo, Bloomberg reported Thursday.

The package consists of a $1.1 billion unitranche loan and a $330 million undrawn term loan - with some tranches in euros, dollars, sterling and Swedish krona - the report said, citing people with knowledge of the matter.

The loan package comes after CVC Capital Partners acquired a stake in Odevo in August in a deal that valued the business at over $3 billion, according to the report.

A representative for Ares declined to comment. Blackstone and Odevo did not immediately reply to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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