Three things to know:
1. Envision hired investment bank Houlihan Lokey to advise on restructuring its $7.5 billion debt pile.
2. Sources who spoke to Reuters said Envision won’t be able to stay afloat exclusively by exchanging some of its bonds with loan borrowings.
3. Envision is expected to make more significant cuts to its debt. Houlihan Lokey, Envision, and Envision’s parent company, KKR, declined to comment.
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