AMERICAS DISTRESS DAILY: RSA Security’s Debt Talks Collapse

RSA Security’s talks with lenders have fallen apart after terms on a debt restructuring couldn’t be reached. The performance and outlook for the company have deteriorated since the discussions began late last year.

• Clearlake-backed RSA had about $1.4 billion of debt, and the investor was weighing subordinating its first-lien position into a third-out priority as part of the failed talks
  • It also had been holding conversations about combining parts of RSA Security and Quest Software into a new business

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