Credit hedge fund cashes out on Codere trade ahead of restructuring

By Jon Close

Friday, June 21, 2013

Fund takes profits on Codere trade and walks away as restructuring looks increasingly likely 

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Comment by: Anonymous. Posted 10 years ago [2013-06-22 12:59:31]

As an added thought to the "base case", the thesis of the NAB trade appears to be that "if Codere makes it through the first year, we think they'll survive for five years". Thus, protecting that first-year period was a wise move.

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