The distressed debt funds that feasted on Carlyle’s Bis Industries are once again smacking their lips as a new refinancing candidate –toxic waste storage company Tellus Holdings – lands on the dealmaking circuit.
Street Talk understands Tellus, which drew Hong Kong credit fund Tor Investment Management into its debt stack as part of a 2021 refi, is working with Grant Samuel and seeking a new investor to bankroll its portfolio of geological repositories to store toxic waste while it tries to make money from kaolin clay and rock salt at the sites.
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