Avenue’s Lasry Says It’s a Good Time to Buy European Bank Debt

Marc Lasry
Marc Lasry, billionaire co-founder of Avenue Capital Group. Photographer: Jonathan Alcorn/Bloomberg

(Bloomberg) -- Banks are under pressure from European Central Bank to deleverage and reduce their debt, billionaire co-founder of Avenue Capital Group Marc Lasry said on “Wall Street Week” on Sunday.

* “When you’ve got regulatory pressure to sell, you’ve got to sell”: Lasry

* “Now, we’re buying from people who are selling more because

they’re being forced to, as opposed to why they think it’s a

good decision”: Lasry * As result, he said he’s able to buy debt for 60c to 70c,

gets par in return after restructuring over 2 to 3 yrs

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To contact the reporter on this story: Freeman Klopott in Albany at +1-518-426-9921 or fklopott@bloomberg.net To contact the editors responsible for this story: Andrea Snyder at +1-202-624-1831 or asnyder5@bloomberg.net Joe Sabo

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