BMO-Led Group Seeks to Unload Stuck Debt for HIG's Converge Buyout Deal

A group of banks led by Bank of Montreal are seeking to relaunch a $850 million leveraged loan for HIG Capital's buyout of Converge Technology Solutions Corp., four months after banks were forced to fund the deal due to market volatility. The banks will hold onto the remaining portion of the debt through a second-out tranche. Discussions are ongoing, and terms of the new launch may change.