Citi (C)group provided a GBP 100M line of credit to Interbridge Mortgages, a fast-growing UK lender backed by Paresh Raja, just as his Market Financial Solutions was hurtling toward collapse, reported Bloomberg’s Constantine Courcoulas, Luca Casiraghi and Donal Griffin. Raja controls a 40% stake in the Interbridge holding company and around GBP 30M of the funding line has been drawn, according to the report. There is no indication that Interbridge was affected by the collapse of MFS, which has been accused of fraud that could leave major lenders facing losses of around GBP 1.3B, the report added.
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