Cinven's Netceed Secures Liquidity Deal to Boost Operations

Netceed, a telecommunications supplier owned by Cinven, has agreed with senior creditors to use interest money for operations, boosting liquidity by over $150 million. The deal includes waivers and amendments to debt documents, paving the way for a further $150 million raise if needed. Netceed has struggled with deteriorating financial performance, partly due to lower demand from clients Altice USA and Altice France. The company has around $1.2 billion of debt issued to fund its buyout by Cinven in 2022.