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Perelman’s Vericast Eyes New Debt Deals to Rework Borrowings (1)

June 18, 2021, 12:33 PM

Ronald Perelman’s Vericast Corp. is closing in on a new deal that would see the company exchange some borrowings and issue new debt to rework its capital structure, according to people with knowledge of the matter.

The firm, which has businesses focused on marketing, coupons and checks, is in talks with debt holders after a March refinancing attempt failed after creditor pushback. This time, Vericast’s plans have the backing of creditors including hedge fund Chatham Asset Management, said the people, who asked not to be identified discussing a private matter.

The new deal would have Chatham and potentially ...