CHL Enters Ch. 11 To Restructure $360M Debt Load

Law360, Wilmington (August 29, 2012, 10:11 PM EDT) -- CHL Ltd., a broadband equipment repair company controlled by Bain Capital Partners LLC, sought Chapter 11 protection in Delaware on Wednesday as it looks to fix its balance sheet in short order by restructuring roughly $360 million in debt through a prepackaged plan.

Based in Schenectady, N.Y., CHL and its various Contec subsidiaries carry a heavy debt load dating from 2008, when Bain-affiliated funds acquired a controlling share from American Capital Ltd., and the company hopes to reduce its leverage and improve its financial footing with...
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