A major RadioShack Corp. lender is attempting to buy a bigger part of the electronic retailer's debt in exchange for backing the company's store-closing plan, Bloomberg reported, citing people familiar with the matter.
Salus Capital Partners LLC is seeking to buy as much as $465 million of the $585 million of loans arranged for affiliates of RadioShack's largest shareholder, Standard General LP, according to the report.
Under the proposal, Salus would combine two pieces of debt it wants to buy, a $325 million first-lien loan and a $140 million revolving credit line, according to Bloomberg.
To view the Reuters article based on the Bloomberg story, click here.