AMERICAS DISTRESS DAILY: Ivanti Secures $350 Million in New Debt

Ivanti Secures deal with lenders for fresh financing and debt extension, receiving roughly $350 million in new debt and stretching out existing maturities by several years. The deal comes as the company faces a prolonged earnings rut and increased likelihood of default or debt restructuring.

• Ivanti has around $2.8 billion of outstanding debt on its balance sheet, with its roughly $1.7 billion term loan due 2027 trading near 70 cents on the dollar.
• The US financial markets have been turbulent amid the global trade war, with spreads in the junk bond market jumping almost 80 basis points and prices in ...