Apex Tool Group today held a lender call disclosing that the company, advised by Kirkland & Ellis and PJT Partners, is implementing a liability management exercise to address its term loan debt, according to 9fin sources.

The Bain Capital-backed company has nearly $800m of first lien term loan debt due 2029 and $350m worth of a second lien term loan debt due 2030, according to sources. All term loan lenders are being offered the ability to participate in the LME, but at different levels, the sources said.