Avenue’s Lasry Says It’s a Good Time to Buy European Bank Debt
2015-08-02 18:16:50.337 GMT
By Freeman Klopott
(Bloomberg) -- Banks are under pressure from European
Central Bank to deleverage and reduce their debt, billionaire
co-founder of Avenue Capital Group Marc Lasry said on “Wall
Street Week” on Sunday.
* “When you’ve got regulatory pressure to sell, you’ve got
to sell”: Lasry
* “Now, we’re buying from people who are selling more because
they’re being forced to, as opposed to why they think it’s a
good decision”: Lasry
* As result, he said he’s able to buy debt for 60c to 70c,
gets par in return after restructuring over 2 to 3 yrs
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To contact the reporter on this story:
Freeman Klopott in Albany at +1-518-426-9921 or
fklopott@bloomberg.net
To contact the editors responsible for this story:
Andrea Snyder at +1-202-624-1831 or
asnyder5@bloomberg.net
Joe Sabo
2015-08-02 18:16:50.337 GMT
By Freeman Klopott
(Bloomberg) -- Banks are under pressure from European
Central Bank to deleverage and reduce their debt, billionaire
co-founder of Avenue Capital Group Marc Lasry said on “Wall
Street Week” on Sunday.
* “When you’ve got regulatory pressure to sell, you’ve got
to sell”: Lasry
* “Now, we’re buying from people who are selling more because
they’re being forced to, as opposed to why they think it’s a
good decision”: Lasry
* As result, he said he’s able to buy debt for 60c to 70c,
gets par in return after restructuring over 2 to 3 yrs
Story Link:NSN NSGVLK6JTSE8<GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Freeman Klopott in Albany at +1-518-426-9921 or
fklopott@bloomberg.net
To contact the editors responsible for this story:
Andrea Snyder at +1-202-624-1831 or
asnyder5@bloomberg.net
Joe Sabo