Financially troubled American Seafoods debt deal underway amid Rokke return talk

The majority of payment-in-kind (PIK) noteholders in troubled US fishing company American Seafoods Group has agreed a restructuring agreement with an unnamed investor, according to a note from ratings agency Standard & Poor’s (S&P). American Seafoods’ highly leveraged capital structure, with debts of over $900 million, includes over $125m of 15% PIK notes, “which continue to accrue interest and represents a growing liability on the company’s balance sheet”, wrote S&P in a note from January. Read the rest here 10:33  Financially troubled American Seafoods nears deal on debts Read the rest here 12:00

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