Quest Creates ‘3.5-Tier’ Loan With Second Debt Shuffle in Months

Quest Software, backed by Clearlake Capital Group, is undertaking a debt restructuring for the second time in three months. The company is launching a debt exchange to reduce its debt burden. The restructuring involves creating a "3.5-tier" loan structure, which means that the order in which creditors get repaid has been rearranged. This is the second time Quest has shuffled its debt in a short period. The debt exchange is aimed at lessening Quest's overall debt load. The company is seeking to improve its financial position through this maneuver, which involves reorganizing the priority and repayment terms for its various creditors. The article highlights Quest's ongoing efforts to manage its debt and financial obligations, as the company navigates the challenges of its current situation. The debt restructuring is a strategic move by Quest to address its debt-related issues and potentially strengthen its overall financial standing.