Platinum-Backed Chainsaw Maker Overhauls Debt, Inks New Loan

Oregon Tool Inc., a chainsaw maker backed by buyout firm Platinum Equity, has reached a deal to cut its debt load and boost liquidity.

A newly created overseas unit of the company received a $156 million term loan while some creditors have agreed to swap their debt at a discounted price and extend the maturity of those liabilities, Oregon Tools said in a statement Thursday. The firm added its liquidity will be increased by $150 million, with debt reduced by over $75 million.

Bloomberg News reported two weeks ago that an agreement in principal had been reached with some ...