{"id":8428,"date":"2008-08-21T00:00:00","date_gmt":"2008-08-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"distressed-funds-circle-spain","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2008\/distressed-funds-circle-spain.html","title":{"rendered":"Distressed funds circle Spain"},"content":{"rendered":"<p>Reuters UK &#8211; Vulture funds are finally saying debt from Spanish retailer Cortefiel is now cheap enough to buy, after waiting for months to see prices of the struggling company&#8217;s debt fall further.       <\/p>\n<p>The funds, which have raised billions of dollars to invest on the hopes that a worsening global economy will depress debt prices, are closely monitoring the Spanish group whose debt trades at about 42 percent of its face value.<\/p>\n<p>&quot;At these levels, you have to start thinking,&quot; said a hedge fund manager, under the condition of anonymity.<\/p>\n<p>Cortefiel, owned by private equity firms Permira, CVC and PAI Partners is struggling as the Spanish economy slows in the wake of the credit crunch after a real estate bubble in the country burst.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" border=\"0\" width=\"1\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/369011191\" \/><br \/>  <strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/369011191\/idUKARO94611520080819\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters UK &#8211; Vulture funds are finally saying debt from Spanish retailer Cortefiel is now cheap enough to buy, after waiting for months to see prices of the struggling company&#8217;s debt fall further. The funds, which have raised billions of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[87,117,1629,285,551,2284,1529,2283,2282,699],"class_list":["post-8428","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-angela-merkel","tag-investment-arm","tag-investor-relations","tag-management-platform","tag-mayhem","tag-minority-interest","tag-quarterly-survey","tag-third-avenue-value","tag-time-relationships","tag-volatility"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8428"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8428\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}