Christopher Witkowsky

The private equity firms plan to back stop a $75m rights offering and exchange $98m of debt for equity in Builders FirstSource, the US' second largest supplier of building products.

The private equity firms plan to back stop a $75m rights offering and exchange $98m of debt for equity in Builders FirstSource.

The metal parts manufacturer is negotiating with debt holders over a debt exchange that is integral to the closing of the deal.

S&P gave the business development company a negative outlook over its second quarter losses and the uncertain outcome of its negotiations with lenders.

Asian creditors of the women’s fashion brand are trying to force it into bankruptcy. Ellen Tracy is owned by Wilco Consumer Capital, Radius Partners and Windsong Brands.

The Leon Black-led firm, a significant junior lender to the bankrupt packaging maker, has contested management’s reorganisation plan giving control of the company to senior lenders.

A group of private equity firms that have engaged in bank investing believe changes need to be made to the FDIC’s proposed rules for private equity ownership of failed banks.

Lower capitalisation levels and shorter hold periods are among the changes to proposed FDIC bank ownership rules offered by a group of private equity firms.

The US business development company has slashed about 44% of its workforce and is trying to negotiate out of a default situation that has paralysed its investment activity.

The Gores Group joint venture with Siemens has stepped into a raucous bankruptcy fight for business units of bankrupt Nortel, for which a company backed by TPG and Silver Lake has already bid.