Foundever Considers Distressed Exchange to Lower Its Debt Load

Foundever Group, formerly known as Sitel, may seek a below-par debt exchange or offer to buy back liabilities outstanding at a discount to help lower leverage, according to people familiar with the situation.

• Advisers to a lender group held a call earlier this week to inform their constituents of the French business-services company’s plans, said the people, who asked not to be identified discussing a private matter
  • The advisers said Foundever isn’t facing liquidity issues, the people added
• The group, which is working with Lazard Inc. and Gibson Dunn & Crutcher, entered into a cooperation agreement with holders of ...