SVP Buys About €350 Million of Altnet Deutsche Glasfaser’s Debt

Strategic Value Partners LLC bought loans from a bank entangled in the debt restructuring of German fiber-network operator Deutsche Glasfaser, according to people familiar with the matter.

Victor Khosla’s investment firm snapped up bank debt with a face value of roughly €350 million ($410 million), according to the people, who declined to be identified discussing a private transaction. Deutsche Glasfaser agreed to restructure about €7 billion of debt with creditors this week.

SVP had to secure permission from EQT AB and Canadian pension fund OMERS, the owners of Deutsche Glasfaser, to execute the trade, the people said. Trading ...