Apollo and Bondholders Negotiating Reno de Medici Debt Deal

Apollo Global Management and bondholders are currently negotiating a debt restructuring deal for Italian cardboard packaging manufacturer Reno de Medici, as the company works to stabilize its financial position. The discussions focus on restructuring around €600 million in outstanding bonds, with proposals reportedly including a significant write-down of the debt and the possibility of new capital being injected to support the business.

The negotiations are centered on how losses and new funding would be distributed among creditors, as well as what the company’s ownership structure could look like after the restructuring. In situations like this, creditors that provide new financing often gain greater influence or ownership stakes in the company as part of the agreement.

The potential restructuring reflects broader financial pressures faced by highly leveraged companies across Europe, where higher borrowing costs and tighter credit conditions have made refinancing more challenging. For Reno de Medici, reaching an agreement with bondholders and investors could play a critical role in strengthening its balance sheet and supporting the company’s long-term operations in the competitive packaging sector.