Stonepeak’s Rinchem Seeks Distressed Exchange to Fund Buyout

Rinchem, a Stonepeak Partners-backed chemical logistics and services company, is asking some lenders to accept losses as part of a debt deal to help finance its acquisition of Dupré Logistics, according to people with knowledge of the matter.

Rinchem said Wednesday that the buyout will be funded in part by about $100 million of new money from existing lenders. Creditors backing the transaction also agreed to exchange up to $300 million of debt for new loans with maturities extended to 2031, the company said in a statement.