Bloomberg have the report, citing other financial media.
- loans were backed by jets, yachts, property or other financial assets
- deal finalised late 2021
- interest rate of more than 11%
Bloomberg add that CS experienced 12 defaults on its yacht and aircraft loans in 2017 and 2018, of which a third had been related to U.S. sanctions against Russian oligarchs.
Folks will be inclined to shout this marks the "top". Many of them have been doing so for the past decade or so so they are well-practised.
What if the boat sinks? Remember this? I wonder how this loan turned out.
