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Article: BT taking U.S. expertise abroad to earn big fees selling bad loans. (Bankers Trust New York Corp.)
- Article from:
- American Banker
- Article date:
- May 15, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bankers Trust New York Corp. may be spinning gold - in the form of lucrative fees-out of distressed international loans.
Taking the lead among U.S. banks in a global asset-sales and securitization specialty, Bankers Trust announced this week that it had beaten out tough competition for a Mexican government mandate to sell off more than $40 billion of problem bank loans.
Last month, similarly, the New York bank won a highly publicized deal from the troubled Nippon Credit Bank Ltd. of Japan to sell tens of billions of dollars of problem assets.
Earlier this year, Bankers Trust did the same with problem loans of Paris- based Credit Lyonnais.
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