Bondholders to Apollo-Backed Kem One Tap Law Firm Amid Cash Burn

A group of creditors to Apollo Global Management Inc.-backed chemicals company Kem One SASU has hired Paul Hastings for legal advice as the firm mulls options to address its dwindling liquidity.

Investors in Kem One’s €450 million ($467 million) bonds due in 2028 tapped the law firm, said people with knowledge of the matter, who asked not to be identified discussing private information. The documents of the debt grant it room to raise more super senior funding, said the people familiar.

A representative for Apollo declined to comment, while requests for comment to Kem One and Paul Hastings weren’t ...