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Goldman Sachs (GS) and P-E firm CVC Capital propose a $3.8B debt-for-equity swap for Australian...

Goldman Sachs (GS) and P-E firm CVC Capital propose a $3.8B debt-for-equity swap for Australian TV network Nine whereby CVC would lose control of the broadcaster to creditors that hold A$2.7B ($2.8B) of its debt, including Apollo Global (APO) and Oaktree, Reuters reports. Under the agreement, senior lenders would get 70% of Nine, while Goldman, which holds A$975M in mezzanine debt, would receive 30%.
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