Carvana Co. undefined creditors led by Apollo Global Management Inc. undefined and Pacific Investment Management Co. inked an agreement to team up in credit...
Carvana Co. creditors led by Apollo Global Management Inc. and Pacific Investment Management Co. inked an agreement to team up in credit talks with the company in a move to avoid the conflicts that have arisen in other debt restructurings, Bloomberg reported Wednesday. Firms holding 70% or about $4 billion of Carvana's unsecured debt have signed the cooperation agreement, the report said, citing unnamed sources.
creditors led by Apollo Global Management Inc. APO and Pacific Investment Management Co. inked an agreement to team up in credit talks with the company in a move to avoid the conflicts that have arisen in other debt restructurings, Bloomberg reported Wednesday. Firms holding 70% or about $4 billion of Carvana's unsecured debt have signed the cooperation agreement, the report said, citing unnamed sources.
and Knighthead Capital Management to come up with a pact to prevent infighting. The agreement will last at least three months. Carvana stock has dropped 97% in 2022, compared to a 29.6% drop by the Nasdaq COMP .
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