Tropicana’s Debt Deal Divides Creditors Into Winners, Losers (1)

Tropicana Brands Group finalized a deal that saw a select group of lenders guarantee that the struggling juice maker would get $400 million in fresh cash, according to people familiar with the matter, after earnings dropped amid crop blights and changing tastes.

In return, the group was moved ahead of peers in the repayment line, the people said, asking not to be identified discussing a private matter. They will be able to exchange their existing holdings for debt that would rank just below the $400 million in the repayment line, the people added.

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