Clearlake-Backed RSA Security, Creditors Break Off Debt Talks

Confidential talks between Clearlake Capital Group-backed RSA Security and a group of its lenders have fallen apart after terms on a debt restructuring couldn’t be reached, according to people with knowledge of the situation.

The performance and outlook for the company have deteriorated since the discussions began late last year, leading to disagreement on the magnitude of the discount that creditors would take as part of a debt exchange, said the people, who asked not to be identified as the talks were private. RSA, also backed by Symphony Technology Group, was seeking additional cash and maturity extensions as ...