GoldenTree to invest $200m in Saks Global’s Chapter 11 financing

US-based GoldenTree Asset Management will invest $200m in a $1bn debtor-in-possession (DIP) financing for Saks Global Enterprises during its Chapter 11 restructuring. Founded by billionaire Steve Tananbaum, the credit-focused investor will participate as a provider of new capital in the DIP loan, which carries super-priority status in the bankruptcy repayment order, citing sources, Bloomberg reported. According to the report, the final financing terms are expected to be finalised this week. GoldenTree ...