GoTo Bonds Surge After Debt Proposal Eases Creditor Clash Fears

A restructuring plan software company GoTo Group Inc. reached with creditors including Blackrock Inc., Eaton Vance Management, and GoldenTree Asset Management sent the company’s debt surging after the deal was opened to all creditors, according to people with knowledge of the matter.

• GoTo’s 5.5% bond due 2027, which is eligible to be exchanged as part of the deal, soared 12.75 cents on the dollar to 53.75 cents, according to Trace
  • The note had plunged in recent weeks as investors fretted they could be left out of a restructuring deal, or could see their debt pushed further back in ...