Monarch, Silver Point Lead Private Debt for Fishing Retailer

Monarch Alternative Capital and Silver Point Capital led a $750 million private credit deal to refinance debt of Sycamore Partners-backed Pure Fishing Inc., after the company’s broadly syndicated loan traded down into stressed levels, according to people with knowledge of the matter.

The new five-year loan for the fishing equipment retailer priced at 7 percentage points over the Secured Overnight Financing Rate and at a discount of 97 cents on the dollar, said the people, who asked not to be identified discussing a private transaction. Sycamore announced the deal in a statement Wednesday, without disclosing terms. Proceeds from ...