Zayo Lenders Sign Cooperation Pact After Failed Negotiations

First-lien lenders to fiber-network firm Zayo Group Holdings Inc. entered into a cooperation agreement that binds them to act together after the company failed to clinch a deal to extend debt maturities, according to people with the knowledge of the situation, who asked not to be identified discussing a private matter.

• The company and some of its first-lien lenders recently ended confidential talks about potentially amending and extending term loans after the two sides couldn’t agree on terms, Bloomberg previously reported
• Those talks came as the company plans to sell an asset-backed deal to help contend with its heavy debt ...