MUFG takes loss on Glencore coal project loan
In:
Infrastructure, Metals and Mining, Transport
Japanese bank MUFG sold off its $85 million loan to Glencore’s Wiggins Island Coal Export Terminal (WICET) in Australia to a hedge fund on Wednesday at about 52 cents in the dollar, according to two sources.The costly decision at a time of extreme market volatility extinguishes MUFG's...
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