Carlyle Capital faces liquidation of $16 billion of collateral |
| International Herald Tribune - Mar 10, 2008 |
Carlyle Group's mortgage-bond fund said Monday that creditors could liquidate as much as $16 billion of securities unless the two sides reach agreement on debt repayments.
The fund has asked lenders to refrain from further sales after they liquidated collateral securing $5 billion of debt, Carlyle Capital said.
The company is meeting lenders to discuss more than $400 million of margin calls and is "evaluating all options," said Emma Thorpe, a Carlyle spokeswoman in London.
Carlyle Capital used loans to buy about $22 billion of AAA-rated mortgage debt issued by Fannie Mae and Freddie Mac, which the firm says have an "implied guarantee" from the U.S. government.
Read Full Article from International Herald Tribune
- Posted: 2008-03-10 09:52:35
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