Cinven’s Netceed Strikes Creditor Deal to Boost Liquidity

Telecommunications supplier Netceed has struck an agreement with the majority of its senior creditors to boost its liquidity by not paying the interest it owes for the remainder of this year.

The group, owned by private equity firm Cinven Ltd., will access over $150 million of extra liquidity for operations with the deal, according to people familiar with the matter, who asked not to be named because the conversations are private. The agreement also includes waivers and amendments to the existing debt documents, paving the way for Netceed to raise a further $150 million if needed, the people said. ...