Monday, 26 January 2015
Last updated 2 days ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…