Lenders take haircut in Credit Corp deal with Collection House
Liam WalshReporter
Debt chasing giant Credit Corp has taken a crippling monkey off the back of floundering rival Collection House, acquiring $50 million of the under-pressure company’s banking debt and its last big ledger asset.
The string of deals announced on Wednesday indicates Collection House’s lending syndicate, which includes Commonwealth Bank and Westpac, is taking a major haircut on money owed.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles