Platinum-Backed PR Software Firm Cision Halts Lender Talks
- Parties disagreed on size of discount creditors would take
- Company has a credit facility due to be repaid this month
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Confidential talks between Platinum Equity-backed public relations firm Cision Ltd. and a group of lenders have fallen apart after terms on a new debt deal couldn’t be reached just days away from a credit line repayment deadline.
The parties disagreed on the size of a discount that creditors would take as part of a debt exchange, according to people with knowledge of the matter. The company was also seeking additional cash, said the people, who asked not to be identified discussing a private matter.