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Aug 5, 2024 | 
ionanalytics.com | Huiling Cai |Nicholas Morgan |Ayse Kelce |Ben Miller
News (Intelligence) Some of Sotheby’s creditors are considering pre-emptive options to protect themselves, after owner Patrick Drahi used aggressive financial maneuvers to address Altice France’s massive debt pile, according to three sources familiar with the matter.
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Jun 11, 2024 | 
ionanalytics.com | Kunyi Yang |Madalina Iacob |Huiling Cai |Ben Miller
Creditors for Springs Window Fashions have formed a group and tapped Ropes & Gray as legal advisor amid the company’s declining performance, according to two sources familiar with the matter. The window covering producer is the latest Clearlake Capital portfolio company to come under pressure from a combination of high interest rates and declining sales. Springs Window posted 1Q24 earnings in late May that showed sales declined 8.9% to USD258m and adjusted EBITDA dropped 18.8% to USD 44m.
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May 22, 2024 | 
onlinelibrary.wiley.com | Yong Yu |Keke Qin |Yedong Xian |Huiling Cai
REFERENCES , , , , , & (2015). Depression and HIV serostatus disclosure to sexual partners among newly HIV-diagnosed men who have sex with men. AIDS Patient Care and STDs, 29(10), 550–558. https://doi.org/10.1089/apc.2015.0122 , , , & (2016). Factors influencing HIV disclosure among people living with HIV/AIDS in Nigeria: A systematic review using narrative synthesis and meta-analysis. Public Health, 136, 13–28. https://doi.org/10.1016/j.puhe.2016.02.021 , , & (2016).
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Feb 22, 2024 | 
ionanalytics.com | Huiling Cai |Madalina Iacob |Mariana Santibanez |Ben Miller
Angelo Gordon is among the lenders leading a deal to provide new capital to Apex Tool Group in a priming deal that has outraged lenders left out of the transaction, according to two sources familiar with the matter. The company on Wednesday (21 Feb) told creditors it had reached an agreement with a group of lenders to provide a USD 125m first out delayed draw loan to the liquidity-starved tool manufacturer, the first source and an additional source familiar with the matter said.
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Feb 2, 2024 | 
ionanalytics.com | Huiling Cai |Madalina Iacob |Mariana Santibanez |Ben Miller
Distressed companies are expected to employ ever more sophisticated and, in some cases, aggressive liability management transactions (LMTs) as advisors continue to test the boundaries of credit documents.
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Jan 25, 2024 | 
ionanalytics.com | Huiling Cai |Madalina Iacob |Ben Miller
A broad group of first lien lenders to Magenta Buyer recently tapped Akin Gump as legal counsel amid the company’s deteriorating earnings performance, according to two sources familiar with the matter. The Symphony Technology Group-backed company, which operates under the Trellix and Skyhigh Security brands, reported late last year that 3Q23 total revenue fell 11% YoY to USD 407m compared to USD 457m clocked in the prior year period, as reported.
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Jan 24, 2024 | 
ionanalytics.com | Ben Miller |Huiling Cai |Madalina Iacob
Agent bank Barclays is working with Russell Investments to negotiate with lenders on how to handle the asset manager’s 2025 debt maturities, said three sources familiar with the matter. A group of lenders to Russell has turned to Gibson Dunn for advice on the talks, added one of the sources and a fourth source familiar with the matter.
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Jan 11, 2024 | 
ionanalytics.com | Ben Miller |Huiling Cai |Madalina Iacob |Jay Antenen
Hearthside Food Solutions’ weakening operating performance is raising pressure on the company to take more aggressive action to address upcoming debt maturities, said three sources familiar with the matter. While the contract food manufacturer’s European asset sale last fall provided a much-needed liquidity boost, Hearthside still needs to raise external cash to refinance its debt, two of the sources said.
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Jan 10, 2024 | 
ionanalytics.com | Ben Miller |Madalina Iacob |Huiling Cai
An ad-hoc group of bondholders backing DISH Networks are consulting with law firm Milbank, as the telecom group and parent Echostar executed an asset drop-down transaction moving assets away from holders into an unrestricted subsidiary, according to two sources familiar with the matter. Echostaris potentially gearing up for a new financing deal with the asset shuffle that transfers assets away from the DISH DBS satellite TV business, said a buysider and a sellside analyst.
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Dec 8, 2023 | 
ionanalytics.com | Ben Miller |Madalina Iacob |Huiling Cai
CVC Capital-owned ConvergeOne Holdings reported an increase in third quarter revenue and EBITDA, while year-to-date cash flow from operations remained negative, said two sources familiar. The CCC+ rated software company’s earnings and cash flow have been under pressure amid persistent high interest rates, supply chain delays and weakness at its key vendor Avaya, noted S&P analysts in a recent report.
