SVP, Lenders in Advanced Talks to Extend Kloeckner’s Senior Debt

SVP, Lenders in Advanced Talks to Extend Kloeckner’s Senior Debt

Strategic Value Partners and a group of creditors of Kloeckner Pentaplast are in advanced talks to extend the maturity of the German packaging company’s senior debt beyond next year as inflation and waning demand pressure its business, according to people with knowledge of the matter.

SVP nears deal to extend Kloeckner Pentaplast’s senior debt

Strategic Value Partners (SVP) is in advanced negotiations with senior creditors of Kloeckner Pentaplast as the parties work toward a maturity extension on the German packaging manufacturer’s senior debt, according to a report by Bloomberg citing sources familiar with the matter. The discussions come as Kloeckner Pentaplast contends with persistent inflationary pressures and softening demand across the packaging sector. As part of the prospectiv…