Reuters.Signa Holding, the Austrian real estate giant owned by investor Ren Benko, is set to receive a critical cash infusion of 600 million euros to tackle immediate financial obligations and fuel an accelerated restructuring, according to media reports. The loan, secured at high interest rates with Signa Prime assets as collateral, is a strategic move to manage a significant debt repayment of 1.5 billion euros due by mid-2024. Amidst these financial maneuvers, Ren Benko has stepped down from his leadership roles within the company.
The Swiss private banking group Julius Baer has come under the regulatory eye of Finma due to its substantial risk exposure from lending to Benko’s Signa Holding GmbH. With the European Central Bank’s …
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