Sound Inpatient Physicians Hires Adviser for Balance Sheet Help
- Steering group of lenders signed a cooperation agreement
- Its first-lien loan is quoted around 57 cents on the dollar
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Sound Inpatient Physicians Inc. has hired PJT Partners for debt advice as the hospital-staffing company grapples with earnings pressure, according to people with knowledge of the situation.
Some of its lenders have already formed a steering committee and signed a cooperation agreement that will bind them to act together in negotiations, said the people, who asked not to identified because the matter is private. Typically lenders sign such agreements when they perceive a company to be struggling.