City Brewing Co LLC reached a deal with most of its lenders to raise fresh money by shuffling assets into a new legal entity and borrowing against them, according to people with knowledge of the matter.
City Brewing — a Charlesbank Capital Partners-backed brewer of hard seltzer and Pabst Blue Ribbon beer, among other beverages — will get a new $115 million loan as part of the deal, the people said. Valuable brewery assets were shifted out of the reach of creditors to serve as collateral for the new loan, according to the people, who asked not to be ...
