Silver Point, Sculptor-Led Group to Control Nordic Aviation (1)

Debtholders led by Silver Point Capital and Sculptor Capital Managementare set to take control of Nordic Aviation Capital AS as part of a restructuring deal announced last week, according to people with knowledge of the situation.

The aircraft lessor said it reached an agreement with its biggest creditor groups on a restructuring framework, without naming the debtholders. The deal will convert “a substantial amount” of the group’s debt into equity and give the company $500 million of new money through a $300 million equity rights offering and a $200 million revolver.

Sculptor was among investment funds that built a ...