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CD&R’s Cornerstone to Go Ahead With Monarch Deal to Raise Money
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CD&R’s Cornerstone to Go Ahead With Monarch Deal to Raise Money Cornerstone Building Brands Inc. is set to move forward on a deal it reached with Monarch Alternative Capital to raise additional liquidity after months of negotiations with existing lenders, according to people familiar with the matter. The Clayton Dubilier & Rice-owned company had reached an agreement with Monarch weeks ago to raise about $500 million backed by its metals business. Funding was put on hold while the company...
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CD&R’s Cornerstone to Go Ahead With Monarch Deal to Raise Money
Cornerstone Building Brands Inc. is set to move forward on a deal it reached with Monarch Alternative Capital to raise additional liquidity after months of negotiations with existing lenders, according to people familiar with the matter.
The Clayton Dubilier & Rice-owned company had reached an agreement with Monarch weeks ago to raise about $500 million backed by its metals business. Funding was put on hold while the company held separate talks with existing lenders over how to address its debt pile and financing options, the people said, asking not to be identified discussing private information.