Tuesday July 7, 2020

McGinnis refinances Nama loans

Debt transfer away from Cerberus comes as US fund faces challenge from Belfast businessman

14th June, 2015

Northern Irish property developer McGinnis Group has become the latest debtor to refinance its Nama loans, which amounted to a reported total of £64 million.

The deal will see the McGinnis loans transferred out of US private equity giant Cerberus, which bought the former Nama Northern Ireland property loan book last year.

The loans will be transferred into Earlsfort Capital Partners, the specialist refinancing vehicle which was set up last year by former IBRC executives,...

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