Barclay Clan’s Firm to Refinance $200 Million Greensill Loan
- Shop Direct seeking to refinance loan it got from Greensill
- Credit Suisse funds invested in the Greensill-packaged loans
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A company owned by the billionaire Barclay family is trying to refinance a $200 million loan it received from Greensill Capital, a move that would potentially offer some relief to Credit Suisse Group AG funds that invested in debt arranged by the now-defunct specialty lender.
Shop Direct Holdings Ltd. is in advanced talks to refinance the debt from Greensill, which was then sold on to funds run by Credit Suisse, according to people familiar with the matter. The loan was unpaid as of June 29, according to a Credit Suisse presentation seen by Bloomberg. However, the refinancing, which is expected in the coming days, would see investors exposed to the debt via the Credit Suisse funds made whole, the people said.