Madalina Iacob

Sunnova recently furloughed many employees after issuing a going concern warning in early March, according to public LinkedIn posts by employees and a source familiar. The furlough is expected to last at least through the end of April, according to automatic email replies from the furloughed employees’ email addresses and the source familiar. At least some staff have been told they won’t be paid for the period of the furlough, said the source familiar.

Existing lenders to Tropicana have offered the company around USD 400m in new financing as discussions regarding a liability management transaction continue, said two sources familiar with the matter. The PAI Partners and PepsiCo-backed maker of orange juice held an in-person meeting with lenders last week to discuss options to bolster liquidity, Debtwire previously reported. Existing lenders and a third party have been competing to provide new financing to address the liquidity crunch.

Blue Owl Credit and OakTree Capital Management jointly provided a USD 200m loan to Barracuda Networks to help bolster the software company’s liquidity, according to two sources familiar with the situation.