One Call Receives $375 Million Investment, Restructures Debt

One Call has restructured its debt with the help of a $375 million investment from two of its lenders, the company announced late Friday. The lenders, KKR and GSO Capital Partners, are now shareholders in One Call, which provides workers’ comp care management services. GSO is the credit-focused investment arm of Blackstone. The transaction reduces One Call’s debt by nearly $1 billion as a result of the new investment, a roughly $90 million reduction in annual interest expense, and lenders’ exchange of debt for common equity in the company. The deal eliminated all near-t...