Shutterfly’s track record in credit markets has been far from picture-perfect, but its latest refinancing laid bare a newer challenge: the cost of managing burdensome debt amid intensifying competition in an artificial intelligence economy.
As part of the latest refinancing, the Barclays-led bank group had planned to sell a $500 million leveraged loan, but pivoted to have the first-lien chunk held by an anticipated private credit lender… [+4081 chars]
Originally published by
Financial Post
