Blackstone Group LP is offering to inject 75 million euros ($84 million) into outdoor clothing company Jack Wolfskin GmbH & Co. to change the terms on its senior loans, according to two people familiar with the matter.
The private-equity owner presented the plan to lenders on Monday, said the people, who asked not to be identified because they’re not authorized to discuss the matter. The money will help repay part of a 350 million-euro loan due in July 2018 and in exchange the company will get looser terms on the remaining debt, the people said.
A Frankfurt-based spokesman for Jack Wolfskin, employed by CNC Communications, declined to comment on the offer. Andrew Dowler, a spokesman for Blackstone in London, also declined to comment.
The Term-B loan was quoted at about 92 cents on the euro Tuesday, a gain of about four cents since the creditors’ meeting, according to the people.
Debtwire reported the news earlier.