Health
Better Health Looks to Increase Deal Support After Serta Ruling
- The proposal would create a new debt repayment order
- Creditors in the ad hoc group would get favorable treatment
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Better Health Group is seeking to bolster support for its debt restructuring plan after an unrelated court ruling favored minority lenders, fueling concern about scrutiny for such transactions, according to people familiar with the matter.
The Kinderhook Industries-backed primary care service provider wants to increase the backing for a deal it reached last month with an ad hoc group, which holds about 64% of existing first lien debt, to raise fresh financing and change the repayment structure.