Subprime lender PrimaLend files for bankruptcy after defaulting on its bonds

Subprime lender PrimaLend files for bankruptcy after defaulting on its bonds

PrimaLend Capital Partners filed for bankruptcy after months of negotiations with creditors following non-payment of interest on its debt.

PrimaLend, which provides financing to auto dealers serving subprime borrowers, listed estimated assets and liabilities below $500 million each, according to court documents it filed in the Northern District of Texas.

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