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VR Advisory Boosts Bet on FirstEnergy Solutions Bankruptcy Exit

Aug. 19, 2019, 5:31 PM

American arm of VR Capital Group boosts holdings in debt of bankrupt power company FirstEnergy Solutions from $29.1m to $82.4m, according to court documents filed in U.S. Bankruptcy Court in Ohio.

  • New York-based VR Advisory Services holds pass-through certificates with a 6.85% interest rate due in 2034; the debt is tied to the Bruce Mansfield Plant, a coal-fired electricity producer that FirstEnergy says it will close in November
  • The debt disclosure documents filed Aug. 16 on behalf of VR Advisory don’t say when the company boosted its investment; a previous disclosure document filed in April showed the lower amount of ...