Borders Set To Repay Pershing Square Loan

Mar 31 2010 | 2:31am ET

Pershing Square Capital Management will get paid after all tomorrow, as bookstore chain Borders Group nears a new financing deal.

The troubled retailer is close to arranging the financing to allow it to repay New York-based Pershing Square, Bloomberg News reports. The $42.5 million loan, made by the hedge fund two years ago, comes due tomorrow. Pershing Square, which is Borders’ largest shareholder, has already renegotiated the loan three times.

In February, Pershing Square chief William Ackman said there was only a “low possibility” of Ann Arbor, Mich.-based Borders filing for bankruptcy.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note