Creditors to Tele Columbus AG are banding together as the struggling German internet service provider controlled by Morgan Stanley Infrastructure Partners braces for debt talks.

A committee of five funds holding roughly 70% of the company’s bonds and loans have inked a cooperation agreement, committing to act in concert in negotiations with the company and its sponsor, according to people familiar with the matter. The group, Arini Capital Management, BlackRock Inc., Helikon Investments, PSquared Asset Management and Sona Asset Management, are giving other creditors the chance to join the pact, the people added.