New York-based Anchorage Capital Group has acquired a slice of debt in collapsed law firm Slater & Gordon, as first reported by Street Talk on Sunday.
The news comes after this column revealed on November 7 that Citigroup had offloaded its Slater’s exposure at just 38¢ in the dollar to an unnamed syndicate.
It has since emerged Anchorage was one of the members of that syndicate and now holds a portion of the ambulance-chasing firm’s debt stack.
Bank of America Merrill Lynch facilitated the trades.
The failed United Kingdom foray has left Slater & Gordon with $682 million of net debt which if valued at 38¢, implies the law firm has an enterprise value of about $422 million.
It is understood McGrathNicol is poised to release a report o…
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