Archive · 21 Nov 2025
Private Lenders to Swap Debt for Equity in Stressed 48Forty
Private lenders who gave 48Forty Solutions $1.75 billion are now taking over the company by swapping their debt for ownership.
They plan to reduce the company's debt by $1 billion and may close some of its recycling plants.
The lenders will also choose a new board for the company.
Private credit lenders to take control of 48Forty Solutions
Debt-for-equity swap to shed $1 billion of liabilities
Lenders to inject $75 million of new debt into 48Forty
Restructuring to include cost-cutting measures and new board appointments
48Forty to stop paying interest on debt
- Who
- Private credit lenders including Antares Capital, KKR & Co., BlackRock Inc., and Carlyle Group Inc.
- What
- Debt-for-equity swap and restructuring of 48Forty Solutions
- When
- Proposed to close by the end of the year
- Where
- 48Forty Solutions' operations across the US and Canada
- Why
- To prevent losses and stabilize the company's financial situation
- Number of Plants
- 73
- Potential Plant Closures
- Multiple