Garrett Motion stalls with CLOs holding $608 million of bankrupt firm's debt

By Michelle D'souza

Garrett Motion enters chapter 11 proceedings with a stalking horse offer from private equity firm KPS Capital Partners, which has agreed to buy substantially all of the firm’s assets for around $2.1 billion. CLOs hold around $680 million of Garrett's term loans

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TAGS: CLO Leveraged loans Default North America