A debt restructuring proposal for Apex Tool Group has garnered support from a broad group of the company’s existing first-lien lenders, even though the deal pushes some creditors further back in line for repayment, according to people with knowledge of the matter.
Anchorage Capital Group, Angelo Gordon & Co., and Elliott Investment Management-backed Elmwood Asset Management are among the firms that received better terms including higher repayment priority for signing on to the deal early, said the people, who asked not to be identified discussing a private matter.
The Bain Capital-backed power-tool maker proposed a deal ...
