Major Bathla lender La Trobe sells $31.2m loan as private credit firms seek to recover funds
Private credit firm 360 Capital has acquired a $31.2 million senior loan facility from La Trobe Financial related to a failed Bathla Group development in Marsden Park. This move allows the firm to take control of the project as the construction giant faces insolvency.
Why it matters
It highlights the growing risks and debt recovery challenges within the Australian private credit market following the collapse of major property developers.
Topic: Construction and Real Estate Industry
Private credit lenders of Bathla Group are striking deals to recover debts following the property giant's collapse. ( ABC News: Berge Breiland )
La Trobe Financial has sold its senior loan facility, tied to a Bathla Group development, to investors through a fund managed by 360 Capital.
The $31.2 million purchase would give 360 Capital greater influence over the Marsden Park project.
Morningstar expects private credit fund growth to slow substantially.
Link copied Share Share article The fallout from the collapse of property developer Bathla Group continues to reverberate through Australia's private credit market, with lenders taking matters into their own hands to recover money tied up in the failed construction giant.
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