JC Flowers ARC, Cantor Fitzgerald mop up debt of road developer at huge discount

JC Flowers Asset Reconstruction Company (JCFARC) has teamed up with New York headquartered financial services firm Cantor Fitzgerald to acquire more than half of the debt of a stressed road developer at an over 80% discount. As many as four lenders to debt-ridden Chennai Elevated Tollway Ltd have sold their loan ......