Goldman Sachs Group Inc (NYSE:GS) was not just buying shares in Banco Espirito Santo; it also loaned funds to the Portuguese bank. Goldman Sachs loaned $835 million to Banco Espirito Santo SA (ELI:BES); at a time when the bank was knee-deep in financial troubles, reports WSJ. Goldman Sachs also held a 2.8% stake in the share of capital of BES; the position was slashed in early August, during which time, shares of BES fell by 80%. Distressed hedge funds buy Espirito Santo credit The Wall Street Journal reports that after looking unsuccessfully for suitable outside buyers to unload its huge chunk of bond holdings…
Goldmans Sachs Unloads Espirito Santo Loans On Hedge Funds
HFA Staff
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