AMERICAS DISTRESS DAILY: Cision Debt Talks Have Broken Down

Confidential talks between Platinum Equity-backed public relations firm Cision Ltd. and a group of lenders have fallen apart after terms on a new debt deal couldn’t be reached just days away from a credit line repayment deadline.

The parties disagreed on the size of a discount that creditors would take as part of a debt exchange, according to people with knowledge of the matter. The company was also seeking additional cash, said the people.

Its $1.2 billion first-lien term loan due in 2027 is quoted at distressed levels of around 60 cents on the dollar, according to Bloomberg-compiled data, as ...