BC Partners-backed telecom provider United Group BV has appointed Goldman Sachs Group Inc. to sell some of its mobile tower assets in a bid to shore up liquidity and repay its near-term bond maturities, the company said in a statement on Wednesday.
The announcement comes as bonds of United Group fell to deeply distressed levels in recent weeks amid soaring inflation and a rising interest-rate environment. Riskier issuers have struggled to refinance debt this year as investor appetite slumped against the volatile backdrop following Russia’s invasion of Ukraine in February.
