Aventiv Technologies Confirms Debt-for-Equity Exchange Pact

Aventiv Technologies says it agreed with financial sponsor Platinum Equity and supporting lenders to recapitalize business via debt-for-equity exchange.

• Key terms include eliminating majority of outstanding debt in exchange for equity shares
• Supporting Lenders will provide $360 million in financing to support company’s operations throughout regulatory review, and to immediately retire its existing revolving credit facility
• Transaction will help facilitate Platinum’s divestiture of Aventiv to an ownership group led by the supporting lenders
• Exchange is subject to regulatory notice periods and approval from federal and state regulators
• Aventiv and its brands Securus Technologies, Securus Monitoring and JPay will continue to ...