Oaktree-Backed STG Logistics Nears $30 Million Liquidity Deal

Oaktree Capital-backed STG Logistics and a group of creditors are nearing a deal in which its owners will provide fresh equity in return for covenant headroom, according to people familiar with the situation.

• The company would receive around $30 million to help bolster its balance sheet, said some of the people, who asked not to be named as the matter is private
  • In return, lenders would provide STG with covenant relief in the wake of earnings pressure from shifting demand in the transport industry
  • A deal hasn’t been finalized and terms may change
• NOTE: STG has been working with long-time ...