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New Star unveils debt-for-equity swap

 
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Shenazar
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Joined: 01 Jan 1970
Posts: 13108
PostPosted: Wed Dec 03, 2008 8:47 pm    Post subject: New Star unveils debt-for-equity swap Reply with quote
New Star Asset Management, John Duffield's embattled fund manager, has finally
struck an agreement to resolve its crippling £240 million debt burden in a
deal that cedes control to its bank lenders and leaves shareholders with
virtually nothing.

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