New Star hands 75% stake to banks in debt for equity swap

By A staff reporter 2008-12-05T00:00:00

A syndicate of banks is taking a majority stake in troubled UK fund manager New Star in a debt-for-equity swap. New Star said the restructuring will result in £240 mln (EUR 277 mln) of its £260 mln of gross debt being converted into equity.

You have now reached your article limit

Already have an IPE Real Assets account? Sign in

PropertyEU has merged with IPE Real Assets

If you had a PropertyEU account, simply reset your password to get access to IPE Real Assets.

New users can Register for free today for access to the PropertyEU Archive and IPE Real Assets.

Registration also includes access to IPE

Five reasons to register today

Access IPE Real Assets articles
Daily news alerts and updates
Track what the world’s leading institutional investors are doing
Learn about the latest industry research and market analysis
Comprehensive archive of data and intelligence on investors and fund managers, including the PropertyEU Archive

SEE HOW IPE REAL ASSETS CAN HELP YOUR business