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Market Chatter: Ares Management Leads $400 Million Loan Deal to Support CVC Capital's Stake Purchase in Chess.com

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Ares Management (ARES) led a $400 million private credit loan deal to facilitate CVC Capital Partners' acquisition of a stake in Chess.com, Bloomberg reported Monday, citing people familiar with the matter.

The loan was priced at around 6 percentage points over the benchmark rate, according to the report.

Ares Management did not immediately respond to a request for comment from.

(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.)

Price: $140.01, Change: $-1.24, Percent Change: -0.88%

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