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 residuals". Much...
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