iStar, Fairmount Minerals Deals Revised

Kellerhals, Richard
March 2011
High Yield Report;3/14/2011, Vol. 22 Issue 11, p22
The article reports the revision of the three billion dollar loan package of iStar Financial and the one billion dollar term loan of Fairmount Minerals by two bank groups. The strategy of JPMorgan, Barclays and RBS for iStar's financing is presented by way of increasing the coupon on the 1.5 billion term loan B-2 to Libor plus 550 basis points (bps). Fairmount Minerals' one billion term loan is reportedly sweetened by Bank of America Merrill Lynch, PNC, KeyBanc and Barclays by increasing the coupon to Libor plus 400 bps.


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