US private equity giant Blackstone Group has become the latest firm to reach an agreement with lenders to amend loan terms on a portfolio company, amid a rise in the number of requests for leveraged loan extensions.

Blackstone will inject €75 million of fresh capital into German outdoor specialist Jack Wolfskin in exchange for lenders agreeing to extend the maturity of the revolving credit facility and revising the covenants, according to a person close to the matter. Interest rates on portions of the loan will rise by 50 basis points as part of the deal.