Accentro - comment
The Accentro restructuring is progressing, but as usual there are layers. The fact that Accentro has mentioned in a regulatory release issues in getting a portfolio company to sign a security agreement, suggests some form of bondholder waiver request may be needed in the event of non-compliance. Closing of the restructuring will be delayed until an agreement is reached and Accentro is working on getting this done. Accentro management is incentivised here as failure to complete the restructuring would be followed by bankruptcy.