Lenders to Apollo’s Covis Tap Advisers to Tackle Heavy Debt Load

Some lenders to Apollo Global Management’s Covis Pharmaceuticals Inc. have tapped advisers in hopes of addressing the company’s high debt load, less than a year after the financing was sold to investors.

A group of lenders is getting advice from Weil Gotshal & Manges, according to people familiar with the matter, who asked not to be identified because they aren’t authorized to speak about it. Covis is weighing options including a liability management exercise or a more comprehensive intervention to address its roughly $1.2 billion in debt, one of the people added.

A representative for Apollo declined to ...