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Deluxe Entertainment’s Lenders Commit to Capital Infusion (1)

July 31, 2019, 8:22 PM

Ronald Perelman’s Deluxe Entertainment Services Group Inc. has lined up a commitment from a majority of its lenders to infuse $73 million of new capital, according to people with knowledge of the matter. Price quotes slid on the company’s debt.

Existing first-lien creditors have agreed to provide the cash as part of a larger effort to refinance and de-leverage the media services company, the people said. All lenders will be offered the chance to participate, said the people, asking not to be identified discussing a private transaction.

Deluxe, which is backed by Perelman’s MacAndrews & Forbes Inc., expects to ...