Billionaire investor Wilbur Ross is considering the purchase of Chinese non-performing loans as the nation takes measures to allow banks to securitize the debt.
I’m “getting very interested in China in terms of distressed loans,” Ross, chairman of WL Ross & Co., said in a Bloomberg Television interview on Wednesday in response to the government’s plan to sell the loans as asset-backed securities. “If they do that with transparency and with reasonable pricing, that’ll be a very good help for the Chinese banks and it will create an opportunity for people like ourselves.”
