Platinum-Backed PR Software Firm Cision Halts Lender Talks (1)

Confidential talks between Platinum Equity-backed public relations firm Cision Ltd. and a group of lenders have fallen apart after terms on a new debt deal couldn’t be reached just days away from a credit line repayment deadline.

The parties disagreed on the size of a discount that creditors would take as part of a debt exchange, according to people with knowledge of the matter. The company was also seeking additional cash, said the people, who asked not to be identified discussing a private matter.

Cision, which owns corporate announcement disseminator PR Newswire, has $2.5 billion of debt, according to ...