Burger King Operator Gets Forbearance After Contentious Dividend

Dhanani Group reached a forbearance agreement with its lenders, lessening tensions, at least for now, over an $85 million dividend the restaurant franchisee recently distributed to its family owners, according to people with knowledge of the situation.

The payment late last year prompted lenders to examine whether Dhanani had broken terms of its $420 million first-lien term loan, said the people, who asked not to be identified because they aren’t authorized to speak publicly. The loan due in 2025 was bid at 96.5 cents on the dollar on Monday, though some brokers have been trying to make a market at ...