JPMorgan Unit to Get 10 Percent Interest on Dodgers Loan
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The Los Angeles Dodgers, which asked at least seven lenders for money before filing for bankruptcy today, will pay 10 percent interest on a loan from JPMorgan Chase & Co.’s Highbridge Capital Management LLC, plus fees.
The one-year $150 million loan from Highbridge, a New York-based hedge fund, sets interest at the London interbank offered rate, or Libor, plus 7 percent, providing that Libor is no lower than 3 percent, according to a court filing today.