Jul. 27 at 10:26 PM
Dye & Durham lenders have hired Houlihan Lokey as financial advisor as the software company's capital structure comes under increasing scrutiny, according to Bloomberg. Creditors interviewed several advisory firms before selecting Houlihan and are also being advised by law firm Paul Hastings.
The lender group, which reportedly includes Silver Point Capital and KKR, has signed a cooperation agreement and is currently focused on discussions regarding engagement with the company rather than new financing proposals. A separate group of minority lenders could also emerge, potentially led by Hogan Lovells and Cadwalader.
The developments highlight growing financial pressure on Dye & Durham, a provider of cloud-based software solutions for legal and business professionals, as creditors organize ahead of potential restructuring discussions.
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