Inherent Credit Opportunities Master submitted an indicative proposal outlining a potential restructuring to Cazoo Group Ltd (CZOO)

Market Cap: $48 million | Cazoo Group Ltd operates as an online car retailer in the United Kingdom and rest of Europe.

On March 17, 2023, Viking Global Investors and Farallon funds entered into a cooperation agreement with the company and pursuant to it, in order to engage with the company in discussions regarding a potential financing, recapitalization, asset or equity sale, reorganization, and/or restructuring transaction or series of such transactions or alternative extraordinary transactions involving the company, each Party agreed, (i) to use commercially reasonable efforts to cooperate in good faith with each other to engage in such discussions and negotiations with the company regarding a Transaction, and (ii) to not directly or indirectly sell, loan, assign, transfer, hypothecate, tender or otherwise dispose of (including by participation), in whole or in part, its right, title or interest in any Notes, or grant any proxies, deposit any of its Notes into a voting trust, or enter into a voting agreement with respect to any such Notes, each without the prior written consent of the other Parties.

On April 25, 2023, D1 Capital Partners, Inherent Credit Opportunities Master, Mubadala Investment Company entered into a joinder to the cooperation agreement dated March 17, 2023 and agreed to become a party to the Cooperation Agreement. Source

On May 12, 2023, Inherent Credit Opportunities Master and certain other Parties to the Cooperation Agreement submitted to the board, for discussion purposes, an indicative proposal outlining a potential restructuring of the Notes and certain other potential changes to the capital structure. Source