Clifden ups its offer for Fairhold CMBS bonds, as rival group strengthens hand

Clifden IOM No.1, an opportunistic fund seeking to pile into pre-crisis and distressed CMBS Fairhold Securitization, announced Thursday that it intends to mop up £104m of class ‘A’ bonds with a revised offer of 54.5.

  • By Asad Ali
  • 03 May 2018

The Fairhold CMBS is a single loan deal backed by cashflows from UK ground rents of sheltered housing.

Clifden is looking to buy bonds to the tune of £104m (the ‘Required Holding’), which if achieved, will require other note holders to accept valid tenders.

But investors will ...

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