This article is from: srnnews.com
April 28 (Reuters) – Discussions over a potential $500 million U.S. government rescue financing for Spirit Airlines have hit an impasse, Bloomberg News reported on Tuesday, citing sources.
A group of lenders, including hedge fund Citadel, is pushing back against proposed terms that could significantly erode the value of their claims and limit recoveries.
The group made a counterproposal in recent days that has gone unanswered, according to Bloomberg News.
Reuters could not immediately verify the report. Spirit and Citadel did not immediately respond to a Reuters’ request for a comment.
(Reporting by Carlos Méndez in Mexico City; Editing by Sherry Jacob-Phillips)
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