Cirque du Soleil attach to settle for recapitalization recount by lenders: Bloomberg News

(Reuters) – Canada’s Cirque du Soleil Leisure Neighborhood is poised to settle for a recapitalization offer from a community of collectors, which would heed them inject no lower than $300 million of most in fashion capital in the financially strapped company, Bloomberg News reported on Tuesday.

The offer shall be formally equipped to a committee of Cirque’s board on Tuesday evening, the document acknowledged, citing sources. (bloom.bg/2ZyulvP)

The proposal would heed first-lien collectors, who were owed extra than $900 million as of March 31, discontinuance up with near to all of the corporate’s equity, the document added.

Lenders had beforehand brushed off a stalking horse recount from a community of traders, including deepest equity agency TPG [TPG.UL], China’s Fosun (0656.HK), a Canadian pension fund and a Quebec executive body, as insufficient.

The offer from the lenders would substitute the stalking horse recount made by TPG and other Cirque shareholders in June, the Bloomberg document acknowledged.

The Montreal-basically basically basically based leisure company filed for chapter protection on the discontinuance of June as the COVID-19 pandemic forced it to waste presentations and lay off artists.

Cirque used to be not with out prolong accessible to comment on the Bloomberg document.