HPS Leads Over $3 Billion Private Loan for Consumer Cellular (1)

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.

Blackstone Inc. and Public Sector Pension Investment Board also participated in the financing for the US mobile network operator, according to the people, who asked not to be identified discussing private information. The entire lender group consisted of more than 10 firms, said the people.

The financing included a roughly $3.4 billion term ...