Restructurings, ‘Safe Bond’ Hot In Euro Distressed Debt

GJ Koomen, cio of Sothic Capital Management, says forced restructurings and high cash-yield “safe” bonds are among the hottest opportunities in European distressed debt. Koomen cited as an example his firm’s purchase of bonds after lender Countrywide’s restructuring at 80 pence ($1.30) on the pound ($1.63). Before joining ...