LONDON (Alliance News) - Chenavari Capital Solutions Ltd on Friday said it has re-invested GBP3.5 million in a repeat deal to replace an exposure which recently matured in its portfolio.
The firm, which does deals with banks looking to cut capital-intensive risk assets to meet tougher regulations since the financial crisis, said the transaction is a first loss exposure to small and medium-sized business and corporate loans made by an unnamed Swiss bank.
Upon acquisition, the deal represents around 3.0% of the company's net asset value, Chenavari said.
Shares in Chenavari were untraded on Friday morning, having last traded at 84.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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