Databricks Inks $5 Billion of Private Credit, Bank Funding (1)

Software maker Databricks Inc. has clinched more than $5 billion of financing from lenders including Blackstone Inc., Apollo Global Management Inc.and Blue Owl Capital Inc. in its largest debt raise to date, according to people with knowledge of the matter.

The tech firm, which is one of the world’s most valuable closely held companies, tapped JPMorgan Chase & Co.to arrange the financing last year and plans to use the proceeds to offset tax burdens associated with stock sales from staffers, Bloomberg reported. The debt deal comes alongside a $10 billion equity funding round Databricks announced at ...