Chemical Firm Arxada Gets Key Lender Support for Debt Extension

Specialty chemical firm Arxada AG won the support of key creditors in its bid to delay debt repayments, as the broader industry faces stress from rising energy prices and subdued demand.

The Swiss company, backed by private equity firms Bain Capital LP and Cinven Ltd., signed an agreement to amend and extend its debt with a group of senior secured lenders, according to a statement sent to bondholders and seen by Bloomberg News. Other secured creditors are in talks to sign the agreement, it said.