Vector’s Riverbed Seeks to Buy Back Debt at Distressed Levels

Vector Capital-backed Riverbed Technology is offering to repurchase some of its already distressed debt for 48 cents on the dollar, according to people familiar with the matter.

The information-technology company’s existing term loan due in 2028 is currently quoted at 49.5 cents on the dollar, down from around 61 cents at the start of the year, data compiled by Bloomberg showed.

Riverbed disclosed to investors this week that it issued a $25 million dividend to its parent entity Vector Capitano Parent LLC, the people said, asking not to be identified discussing a private matter. That money — along ...