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Credit management company Intrum, its subsidiaries and debtor subsidiaries are in settlement discussions with the minority group of bondholders maturing in 2025 who have objected to the company’s prepackaged reorganization process under Chapter 11. This is stated in a press release.
Under the proposed settlement, if an agreement is reached, the 2025 Ad Hoc Group must withdraw its objections in the Chapter 11 process and its prepackaged Chapter 11 plan of reorganization (along with all other processes) and support the group’s recapitalization transaction.
An agreement is conditional in all respects on the necessary approvals of a required majority of the group’s lenders under the lock-up agreement, including RCF lenders and bondholders.
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