US LevFin Wrap — Kraton and Cook & Boardman pull deals as primary headache continues
- Bill Weisbrod
- +Rachel Butt
More loans languished or were pulled from syndication this week, such as a withdrawn BofA-led deal to finance Platinum Equity’s buyout of door maker Cook & Boardman, and a postponed Goldman Sachs-led add-on for rubber company Kraton.
With deals harder to consummate, some borrowers had to get more creative pull off debt raises, like medical software business Greenway Health (rated Caa1/CCC) which is getting an equity injection from sponsor Vista Equity Partners in conjunction with a new loan that is set to retire debt coming due in February 2024.