Deutsche Bank Doubles Down on Indian Shadow Lender’s Debt
- Deutsche Bank leads creditor pushback on Altico debt swap deal
- Asset swap bids range cover 6 - 10 billion rupees in assets
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Deutsche Bank AG and a Singapore based hedge fund bought more debt of an embattled Indian shadow lender, highlighting the growing foreign interest in the discounted assets of the financier at the center of a credit crisis.
Deutsche Bank has almost doubled the debt it holds of Altico Capital India Ltd. to 3 billion rupees ($42.1 million) in the last four months, while Singapore-based Broad Peak Investment Advisers Ltd. has acquired debt of about 1 billion rupees, people familiar with the matter said.