Private-equity firms are in full control of the bank debt of Berlian Laju Tanker (BLT) and are predicted to come out with a sizeable equity stake as the Indonesian tanker owner gears up to emerge from court restructuring.
Market sources say a collaboration of Kohlberg Kravis Roberts (KKR) and York Capital have amassed control of 65% to 70% of BLT’s bank debt, with the remainder held by five or six additional private-equity players.
The
