KKR-Owned Mattress Maker Finalizes Debt Deal With Creditors

A struggling Swedish mattress maker owned by New York-based alternative asset manager KKR & Co. has finalized a deal with creditors after its ties to Russia tipped the company into a restructuring.

Hilding Anders International AB can implement the restructuring on a consensual basis after sufficient creditors entered into a so-called lock-up agreement, according to people familiar with the matter, who asked not to be identified because the talks are private. Under the deal, Hilding’s outstanding term loan will be partly converted into a new, longer-dated senior facility, and partly into bonds issued by its holding company with a payment-in-kind ...