(Bloomberg) — It’s the latest creditor-on-creditor clash in the hyper-competitive world of distressed debt investing — helping cash-strapped borrowers to call the shots even as the cheap-money era ends.
Most Read from Bloomberg
Last week, struggling aerospace supplier Incora secured a financial lifeline from a group of investors including Silver Point Capital and Pacific Investment Management Co. that pushed rival creditors down the repayment line, aided by unusually aggressive moves from its private-equity sponsor Platinum Equity.
The transaction — known as priming — is eliciting uproar from the creditors left behind. It’s also sparking fresh fears in the industry that investors are ramping up a costly fight amongst themselves to put money to work in an evaporated $200 billion pool of distressed debt.
Wesco Aircraft Holdings Inc., which operates under the name Incora, forged a deal with both investment firms that will give it $250 million of fresh cash and swap bonds due in…
__________________________________________________
You can Read this Complete Story at:
Source Link
__________________________________________________
Tags:
Dow Today, Dow Jones Today
__________________________________________________
Related Links:
Stock Market
Latest News on C N N.
__________________________________________________
2022-04-05 15:13:44
