Cabot buys €200m of debt from Cerberus
Deal, which would have seen the debt trade at a significant discount to face value, was closed in recent weeks
The distressed debt fund Cabot Financial has closed a deal with vulture fund Cerberus for €200 million worth of toxic loans.
It is understood that the deal, which would have seen the debt trade at a significant discount to face value, was closed in recent weeks.
The loans, which Cerberus acquired in a range of transactions in recent years from Ulster Bank, are composed of seriously impaired property loans – so-called "tails and ...