Bain Capital Credit wins rescue deal for Italy‘s Trevi…

Bain Capital Credit wins rescue deal for Italy‘s Trevi – sources

By Pamela Barbaglia and Stephen Jewkes

LONDON/MILAN, May 23 (Reuters) – Italian engineering company Trevi is in exclusive talks with Bain Capital Credit to raise cash in a rescue deal worth more than 900 million euros ($1.06 billion), four sources familiar with the matter told Reuters.

Trevi, which specialises in ground engineering and drilling services, has been hurt by a slowdown in the oil and gas industry and a downturn in construction.

It appointed a chief restructuring officer in December to negotiate a debt restructuring plan with a pool of lenders including UniCredit, Monte dei Paschi, Banco BPM and BNP Paribas — and launch a sale process.

($1 = 0.8487 euros) (Reporting by Pamela Barbaglia, editing by Silvia Aloisi and Louise Heavens)

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