Tropicana Wins Support for Deal That Lifts Carlyle, Fidelity (1)

Tropicana Brands Group broadened its support for a restructuring deal that gives lenders including Carlyle Group, Fidelity and CVC Credit Partners better terms than other creditors and allows the company to block firms that don’t participate from selling their debt, according to people familiar with the matter.

The unique provision had spurred angst among holdouts partly because they don’t want to get stuck with debt they can’t offload, said the people, asking not to be identified because they aren’t authorized to speak publicly.

The lenders who brokered the deal agreed to give $400 million in fresh financing to the company ...