Falcone’s Harbinger Is Said to Borrow $190 Million at 15% Rate
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Phil Falcone’s hedge fund, which tumbled by almost half last year because of a troubled wireless venture, is paying a 15 percent interest rate for a $190 million loan, almost triple what the riskiest corporate borrowers pay, said two people with knowledge of the loan.
The billionaire borrowed the money from Jefferies Group Inc. after paying off a $400 million loan from UBS AG on Jan.