Cybersecurity platform Optiv Inc, backed by KKR & Co, has initiated confidential negotiations with holders of its second-lien loans as it confronts a wave of maturing debt in 2026, according to a report by Bloomberg citing people familiar with the matter. More than half of Optiv’s roughly $1bn debt load is scheduled to mature next year, including about $650m in term loan debt, prompting the discussions with junior creditors. In June, the company's high levels of debt and weak performance lead to its downgrade from CCC+ to CCC by S&P Global Ratings. The company also paid the interest on its second-lien obligations using more debt instead of cash, indicating the scale of its financial problems.