Blackstone, KKR Move to Restructure $1.4 Billion Private Loan

Blackstone Inc. and KKR & Co. are leading a debt restructuring for dental services company Affordable Care, which has struggled to service a $1.4 billion private credit loan as earnings deteriorated, according to people with knowledge of the matter.

The pair is in restructuring discussions alongside Antares Capital and New Mountain Capital, the people said, asking not to be identified as the talks are private. Blackstone holds the largest portion of the company’s senior debt, the people said.