Lenders, Delphi in tentative deal (Dealscape

Lenders to Delphi Corp. have reportedly struck a tentative agreement with the auto parts maker and former parent General Motors Co. that may finally end the company's nearly four-year stay in bankruptcy.

The lenders, most of them hedge funds, collectively own Delphi's $3.5 billion in debtor-in-possession loans. They intend to offer to buy the company in exchange for forgiving the amount they are owed, according to reports. The funds hope to trump a rival offer by Platinum Equity LLC for the Troy, Mich.-based parts maker.

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471 in-depth reports of bankruptcy deals in the Automobile sector
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NOT A SUBSCRIBER? Lenders, Delphi in tentative deal Posted on July 17, 2009 10:15 AM Lenders to Delphi Corp. have reportedly struck a tentative agreement with the auto parts maker and former parent General Motors Co. that may finally end the company's nearly four-year stay in bankruptcy. The lenders, most of them hedge funds, collectively own Delphi's $3.5 billion in debtor-in-possession loans. They intend to offer to buy the company in exchange for forgiving the amount they are owed, according to reports. The funds hope to trump a rival offer by Platinum Equity LLC for the Troy, Mich.-based parts maker. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 471 in-depth reports of bankruptcy deals in the Automobile sector 13 company pages related to Automotive 49 in-depth transaction records for Delphi 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Skadden Arps Amusement parks Deb Shops Windstream Corp. Diedrich Coffee Hanna Andersson Tween Brands Entertainment Lazard Lyondell Chemical		EXISTING USERS Username Password Forget your password? Missing a product?

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