Good evening,

KKR-backed GenesisCare is getting a nip and tuck, just in time for the end of the financial year.

Street Talk understands the oncology and cardiology business has been talking to its lenders worried about its $2 billion-plus debt load.

And now its owners KKR and China Resources have written cheques of $75 million and $85 million respectively to try and restore lenders confidence. (It’s also got a deal on the boil to hive off its cardiology unit to Adamantem Capital).

Elsewhere, we’ve got updates on two deals that went quiet.

Buried in NSW budget papers today was the revelation that the state had called off plans to sell its $15 billion odd lottery duties.

And at Basslink, we’ve found a Virgin Australia reunion in progress, as newly hired FTI Consulting brings in Houlihan Lokey.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood

Street Talk editors