TPx Lenders Tap Counsel, Begin Debt Talks As Maturity Wall Nears

Certain lenders to U.S. TelePacific Corp. have begun confidential talks with the telecommunications provider as it considers options to address upcoming debt maturities, according to people with knowledge of the situation.

The ad hoc group is working with lawyers at Davis Polk & Wardwell to evalute options, including a potential debt extension deal, said the people, who asked not to be identified because the discussions are private.

Representatives at U.S. TelePacific and Davis Polk didn’t respond to requests for comment.

The company, which does business as TPx Communications, has a revolving credit facility due in May 2022 and a receivables ...