Lenders were informed in a restructuring meeting that mezzanine lenders Goldman and Park Square will take ownership in a debt restructuring that will reduce Northgate’s leverage from around 8 times to around 4.5 times after fees and expenses, a source said. The loan will include the £320m-equivalent mixed-currency term loan and a £75m-equivalent revolving credit facility. KKR subsequently sold divisions including Northgate Public Services to Cinven for £320m in December 2014 and the managed services division to outsourcing group Capita for £65m in 2013. UK-based Northgate provides payroll services for multinational companies like the BBC, BAE Systems and AstraZeneca, a...