WSJ – A group of New York hedge funds is among those who likely will profit on the bonds of Depfa Bank, after the lender’s parent proposed on Wednesday to buy back some of its debt.
Hedge funds representing two-thirds of eligible bondholders will get most of a €740 million ($871 million) package that Depfa’s state-owned parent is offering, according to details announced by the company. On Dec. 22, some of those funds said they would commit to the deal and vote in favor of certain amendments to the bonds.
