Sanitec outcome close as restructuring pace picks up

Negotiations between Sanitec, the bathroom ceramics company, with its lenders and private equity sponsor EQT, are continuing as debt restructurings dominate the leveraged loan market. There are more on the way: companies’ fourth quarter results, which will begin to appear later this month, are expected to bring on an onslaught of covenant waiver requests and covenant breaches. Fears of bankruptcy and default are also taking their toll, with chemicals group LyondellBasell among the latest companies to spook investors.