KKR to Inject $206 Million Into Selecta to See Through Pandemic

KKR & Co. will inject 175 million euros ($206 million) of new money into Selecta Group as it seeks to keep control of its Swiss vending machine firm through the pandemic crisis.

The U.S.-based private equity firm plans to provide senior debt and ask Selecta’s creditors to swap bonds for longer-dated notes maturing in 2026 that offer less cash interest, according to a statement Tuesday.

Selecta, which operates almost 500,000 machines in Europe, saw its revenue falling by almost 50% in the second quarter amid government lockdown measures to slow the spread of Covid-19. It forecasts sales will be 30% ...