Platinum-Backed LifeScan in Forbearance as Debt Talks Continue

Glucose-monitor manufacturer LifeScan Global Corp. is operating under an extended forbearance agreement with lenders as it works to finalize details of a debt restructuring plan, according to people with knowledge of the matter.

The Platinum Equity-backed firm elected to stop paying interest on some of its junior-ranking debt and is continuing discussions with its creditors, said the people, who asked not to identified discussing a private matter.

The negotiations are in part tied to February’s proposed restructuring deal that called for some of its debt to be equitized, the people said.

Read More: Platinum-Backed LifeScan, Lenders Reach Debt-Restructuring Deal ...