Silver Point Said to Sell Debt in Limitless After Blocking Deal
- Hedge fund said to sell $80 million loans to U.A.E. companies
- Sale paves the way for Limitless to agree on new debt terms
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Silver Point Capital LP sold its share of a $1.2 billion loan in Limitless LLC, clearing the way for a second restructuring of the Dubai-based developer’s debt, five people with knowledge of the matter said.
The U.S. hedge fund sold half its approximately $80 million of debt to Mashreqbank PSC of the United Arab Emirates and the remainder to Massar Investments LLC, an investment company controlled by the bank’s owners, two of the people said, asking not to be identified because the information is private.