K&N Engineering, an auto air-filter maker backed by Goldman Sachs Asset Management, began confidential negotiations with its lenders ahead of upcoming debt maturities, according to people with knowledge of the matter.
The company has to address a roughly $230 million first-lien term loan due October 2023, followed by around $100 million second-lien term loan due October 2024. Certain first-lien lenders are seeking advice from lawyers at Ropes & Gray, said the people, who asked not to be identified because the talks are private.
The first-lien loan is currently quoted at around 79 cents on the dollar, while ...
