Lenders to Foundever Sign Pact Ahead of Potential Debt Talks

A group of lenders to business services company Foundever Group, formerly known as Sitel, has entered into a pact ahead of potential debt restructuring talks, according to people with knowledge of the matter.

The cooperation agreement became effective last month, and the lenders have hired Gibson Dunn & Crutcher, said the people, who asked not to be identified discussing private information. The company, meanwhile, has engaged PJT Partners and formal talks haven’t yet taken place, they added.

Representatives for Foundever and PJT declined to comment, while messages left with Gibson Dunn were not returned.

Higher interest rates have ...