Rabbitisrich Posted October 16, 2009 Share Posted October 16, 2009 From Bloomberg: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=avPkq5Rq.Q9s A TPG Credit Management LP fund offered Oct. 9 to buy $115 million of bank trust preferred securities for 5 cents on the dollar from Tropic CDO V Ltd., according to a trustee report obtained by Bloomberg News. TPG Credit will pay holders of so- called equity portions another $5.75 million to allow the sale, the document says. Equity holders have the right to decide which assets the CDO sells because they’re first in line for losses. Link to comment Share on other sites More sharing options...
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