Brookfield-Backed CDK in Talks on Below-Par Debt Exchange

Management and some creditors of CDK Global are in discussions to cut the software firm’s interest costs through a below-par debt exchange, according to people familiar with the situation.

• The Brookfield Business Partners-backed firm, which provides software to car dealerships, is contending with high leverage as it continues to navigate the fallout from a significant 2024 cyberattack
  • Brookfield owns a sizable amount of the firm’s roughly $5.5 billion debt pile and has weighed in on the negotiations, said the people, who asked not to be identified discussing a private matter
• During last week’s earnings call with investors, CDK management ...