The Fly

Apollo, Pimco sign deal to act together in Carvana debt talks, Bloomberg says

Apollo (APO) and Pimco have signed an agreement to avoid a creditor battle as they hold negotiations with Carvana (CVNA) regarding its debt, Bloomberg’s Davide Scigliuzzo and Eliza Ronalds-Hannon report, citing people familiar with the matter. The group, which also includes Blackrock (BLK), Ares Management (ARES), and Knighthead Capital, intends to operate with a "united front" on negotiations around Carvana debt restructuring or new financing, the report states.

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