(Bloomberg) -- A group of French debt collector iQera Group SAS’s bondholders have selected legal and financial advisers to engage with the company in balance sheet restructuring talks, according to people familiar with the matter. 

Houlihan Lokey Inc. and Gibson Dunn & Crutcher are the respective financial and legal advisers for noteholders that include Alcentra Ltd., the Credit Investments Group at UBS Asset Management — formerly Credit Suisse Asset Management — Intermediate Capital Group Plc and Tikehau Capital, the people familiar said, asking not to be named discussing private information. 

“Following the release of our annual report on April 22, there were discussions held with certain bondholders to explain the situation,” a representative of iQera said by email to Bloomberg. “As mentioned in the annual report, the company is deliberating with its shareholders and all stakeholders on long-term options with the assistance of external advisers.”

The debt collector is owned by BC Partners and Montefiore Investment. Spokespeople for BC Partners, Houlihan Lokey, Alcentra, ICG, Tikehau and UBS Asset Management declined to comment. A representative for Gibson Dunn wasn’t immediately available and Montefiore didn’t reply to a request for comment.    

IQera reported weaker gross collections last year, with results hurt by the interest-rate environment and the firm’s level of indebtedness burdening “its ability to invest sufficiently to preserve future cash flows and ensure its medium and long-term development.”

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