TITLE

iStar, Fairmount Minerals Deals Revised

AUTHOR(S)
Kellerhals, Richard
PUB. DATE
March 2011
SOURCE
High Yield Report;3/14/2011, Vol. 22 Issue 11, p22
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
59407333

 

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