Baker Tilly, a firm backed by Hellman & Friedman, has called off plans for a roughly $3 billion leveraged loan. The deal was intended to refinance existing private credit debt and fund a dividend payout to its owners.

The decision to abandon the financing comes amid a challenging market for such transactions. Leveraged loans, which are typically issued to companies with significant debt, have faced headwinds in recent months due to rising interest rates and investor caution.

This move by Baker Tilly signals a potential pause or reassessment of corporate financing strategies in the current economic climate. The withdrawal of such a substantial debt offering could have implications for the private credit market and the broader financial sector.