News and Analysis
Anthology skips 2L interest less than a year after LME deal
- Rachel Butt
•2 min read
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Anthology in December missed a coupon payment tied to its $500m second lien loan due 2029, according to 9fin sources.
The company, backed by Veritas Capital Fund Management, Providence Equity Partners and Leeds Equity Partners, once again finds itself with balance sheet problems after completing a liability management exercise (LME) in April 2024.
As previously reported, Anthology launched a deal negotiated by an ad hoc group of first lien lenders, which helped extend its debt wall and capture some discount in exchange for tighter covenants.
