Fortress, Bain, Bracebridge Buy €4.8 Billion of Greek Bad Loans

Fortress Investment Group (UK) Ltd, Bain Capital Credit LP and Bracebridge Capital have agreed to buy a total of €4.8 billion ($5.18 billion) of bad loans from Greece’s PQH.

The Greek organization — established in 2016 and appointed by the Bank of Greece as the sole official liquidator of bankrupt credit and financial institutions in the Mediterranean country — said Friday that it concluded the sale of retail, corporate and unsecured or partially secured soured debt. The deal comprised three portfolios from a group of 13 banks that are in the process of being liquidated, Bloomberg News reported ...