What does it take to do a LBO in this market?

Sorry if this is a naive question. I was pitching a stock to a hedge fund alumni from my college and his response to my downside scenario was "the syndicated debt market is closed". I am not smart enough to know how bad the lev finance market has gotten but wanted to see if anyone can share some details around what it takes to do a $5B-$10B market cap take-private transaction for a very recurring business model but little free cash flow.

How much debt can be raised right now and what is the realistic ceiling for a deal right now?

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