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New York firm buys Northstar's debt; $15.3 million repays IBJ Schroder Bank & Trust Co. (Cerberus Partners LP; Northstar Health Services Inc.)
INDIANA, Pa. - A New York investment firm has purchased $15.3 million of Northstar Health Services Inc.'s senior debt from IBJ Schroder Bank & Trust Co.
Cerberus Partners LP is a financial securities firm that invests in publicly traded and private debt issues of large and middle market companies.
It also provides financing for firms seeking capital for mergers, acquisitions and working capital.
Thomas Zaucha, Northstar's chairman and chief executive officer, said the companies will work toward restructuring the senior debt issued by the provider of physical rehabilitation services.
The partnership "will enable Northstar to accomplish financial …
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