(Bloomberg) Co-Operative Bank Plc’s U.S. hedge fund owners are treading a fine line as they attempt to secure control of the British bank that put itself up for sale amid a capital shortfall.
Some of the top bondholders — led by Silver Point Capital, GoldenTree Asset Management, Cyrus Capital Partners and BlueMountain Capital — are pushing to rescue the Manchester, England-based bank for less money than demanded by the Bank of England, according to people familiar with the matter. They also want control without the participation of an external buyer, said the people, who asked not to be identified because the matter is confidential.
