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LevFin summer rooftop drinks

CD&R, Platinum in home stretch for Nestlé water unit, PAI drops out

CD&R and Platinum are the only sponsors left bidding for a 50% stake in Nestlé’s €5bn bottled water business in the final stretch of the sales process, according to 9fin sources. PAI has dropped out of the race, they added.

Connecticut bans hospital sale-leasebacks in wake of Prospect Medical’s collapse

Connecticut has blocked the private equity-driven practice of sale-leasebacks in healthcare—the practice of selling land to an investor who then leases it back—in a first-of-its kind law stemming from the collapses of hospital systems Prospect Medical and Steward Health Care.

Judge approves creditor meetings for TGJones restructuring plans

Mr Justice Marcus Smith approved the proposed timeline for TGJones’s two restructuring plans at a convening hearing today (3 June), rejecting an application by dissenting creditor British Land to adjourn the hearing by 14 days.

Rise of ‘fourth trigger CDS’ ushers in new dawn of risk transfer

Brightline considers DIP loan options

Various creditor groups are jostling to provide financing, including a bankruptcy loan, to ailing private rail operator Brightline, according to 9fin sources.