LaserShip Inks Debt Deal Allowing Some Creditors to Jump Line

American Securities-backed LaserShip Inc. reached a debt-restructuring deal with some creditors that would provide fresh money, reduce debt and revamp the repayment line in the latest such proposal by distressed debtors.

Under the plan, the struggling package-delivery company would receive around $300 million that would rank higher in the repayment line than existing loans, according to people with knowledge of the situation who asked not to identified discussing a private matter.

The new loan would mature in 2029 and have a margin 6.25 percentage points over the Secured Overnight Financing Rate, some of the people added.

The deal ...