UK structured products provider Nvesta is to be sold off earlier than previously planned. Its parent, Eurolife Assurance Group (EAG), went into administration in August. EAG was due to make a second payment in September to investors in its Secured Bond, which went into default in January last year.
Restructuring proposals were submitted in March last year in order to make the repayment to the bondholders, and EAG initially planned to dispose of its entire shareholding in Nvesta before June 20
The week on Risk.net, July 7-13, 2018Receive this by email