Investors Led by Apollo Said to Snap Up McClendon Permian Assets

  • Three firms amass driller’s $1.6 billion of unsecured bonds
  • Company is on track to default within a year: S&P analyst

Distressed-debt investors including Leon Black’s Apollo Global Management LLC have snapped up much of the debt of Permian Resources, with an eye to potentially capturing control of the oil and gas producer started in 2014 by the late Aubrey McClendon, people familiar with the matter said.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.