Charterhouse Said to Ready New Amendment Plan for Bartec Debt
- Revision follows resistance from group of loan lenders
- Proposal expected to be presented to creditors next week
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The private equity owner of Bartec GmbH will revise a plan to amend terms of the oil and gas equipment maker’s debt after investors resisted the proposal, according to two people familiar with the matter.
Charterhouse Capital Partners will present the new plan next week, said the people, who asked not to be identified because they aren’t authorized to speak about it. Bartec needs agreement from holders of at least 75 percent of the loans to change the debt terms in a London court. Lenders controlling about 30 percent of the debt, including Ares Management, Idinvest Partners and Partners Group Holding AG, have resisted the plan, the people said.