Cerberus has found itself bogged down in claims of a corrupt payment to ‘fixers’ working on its $1.2bn loan portfolio purchase in Northern Ireland. The political storm should be a warning to investors who see Europe as a risk-light jurisdiction.
2 min read · 25 September 2015
The UK-based SME lending platform is setting up its own dedicated investment trust and is in talks with the EIB about providing leverage for a slice of the underlying investments.
2 min read · 24 September 2015
The Northern Irish Assembly committee investigating the $1.2bn sale of assets to Cerberus heard allegations that a corrupt payment was intended for the benefit of the First Minister, Peter Robinson.
2 min read · 24 September 2015
The portfolio is spread out across the US and was sold to a number of buyers including Deutsche Bank.
2 min read · 23 September 2015
Bondholder GSO Capital is also said to be working on a proposal to reduce the €1 billion debt pile of the Norwegian papermaker.
2 min read · 23 September 2015
The New York-based BDC is offering five million new shares of its common stock at $14.14 per share. Chairman Steven Klinsky is purchasing 500,000 of the new shares.
2 min read · 23 September 2015
General Electric has set up a new debt vehicle to issue the bonds in exchange for outstanding debt issued by its financial unit, which the firm is currently divesting.
2 min read · 22 September 2015
The Financial Stability Board says cutting tax biases in favour of debt would reduce corporate demand for credit.
2 min read · 22 September 2015
Silver Point, Cerberus and Anschutz Investment Company will see their $1 billion junior debt stake in the bankrupt oil company convert to equity, while unsecured bondholders are still in negotiations over repayment with the KKR-backed company.
2 min read · 22 September 2015
The money will be used to acquire a 15-building portfolio of family-owned properties in Manhattan.
1 min read · 21 September 2015
