Cerberus subsidiary collects €136m on Irish loans via IrishTimesBiz
Promontoria Scariff used the cash generated during the year to repay loans that the company raised to buy the Irish debts.
It also repaid part of two loans due to its immediate parent, Netherlands-registered Promontoria Holding 267 BV. Promontoria Scariff reduced the balance on a second variable interest loan from its Dutch parent to €65 million from €138.6 million. The US group bought the debt, which it describes as a mix of residential and commercial property loans, from Ulster in August 2018.
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