Monday, March 23

Goldman Is Pitching a Risky $500 Million PIK Deal to Pay Itself


A Canadian benefits provider owned by Goldman Sachs Group Inc. is seeking around $500 million from private credit lenders to finance a payout to shareholders, according to people with knowledge of the matter.

The financing for People Corp. would be in the form of a payment-in-kind note tied to a holding company, allowing it to defer paying its interest in cash, said the people, who asked not to be identified discussing private information.



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