AMERICAS DISTRESS DAILY: RSA Security Seeks Debt-Reduction Deal

A group of lenders to private equity-backed RSA Security including BlackRock and Veritas Capital tapped advisers as the company looks to negotiate a deal over its debt load, according to people familiar with the matter.

• RSA is seeking to cut its debt obligations through a below-par debt exchange as interest expenses weigh on it.
• An ad-hoc group of first-lien holders, which hold enough debt to block any restructuring proposal, is operating under a cooperation pact that binds them to band together during negotiations.

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