Hedge Funds

Terms of Hall's exit from TA loan revealed


George Hall, founder of embattled New York arbitrage firm Clinton Group, has paid just 28 cents on the dollar to buy out the remainder of a $110 million debt financing he received from TA Associates two years ago.

Details of the terms of the deal have just come to light and follow the report in the latest issue of the Absolute Return magazine, which revealed that Clinton has retired the debt to TA early.

It appears that Clinton had not hit a trigger forcing retirement of the debt. Rather, Hall initiated the buyout after the firm's revenues fell sharply