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Stock impact report

Perelman's Vericast Tussles With Lenders Over Debt Terms of Sale [BNN Bloomberg (Canada)]

Jefferies Financial Group Inc. (JEF) 
Last jefferies financial group inc. earnings: 10/25 04:42 pm Check Earnings Report
Company Research Source: BNN Bloomberg
Donnelley & Sons Co., according to people with knowledge of the matter. Lenders are asking for more protections in exchange for waiving a covenant that would pave the way for the sale of one of the company's most valuable assets, said the people, who asked not to be identified because the discussions are private. The talks remain active after more than a month, and a deal may still be reached, they said. At the same time, Jefferies Financial Group Inc. is advising Vericast on an alternative possible capital raise of about $1 billion, the people said. Jefferies has approached direct lenders to gauge their interest in a potential deal that would pay down existing debt and circumvent the approval needed from creditors, the people said. Messages left with Vericast, its private equity owner MacAndrews & Forbes, Jefferies and R.R. Donnelley were not returned. A representative for Chatham Asset Management — Vericast's largest creditor and R.R. Donnelley's owner — declined to comment. Show less Read more
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