Thursday, 26 November 2015
Last updated 23 hours ago
Sep 14 2010 | 5:45am ET
Fortress Investment Group plans to refinance hundreds of millions of dollars in debt with a pair of new loans.
The New York-based alternative investments giant is seeking a $340 million term loan and a $100 million revolving line of credit, Bloomberg News reports. Bank of America is taking the lead in arranging the loans, alongside Barclays, Citigroup and Wells Fargo.
The loans are expected to be issued at 100 cents on the dollar with call protection. Fortress is offering a rate of 4% above the London interbank rate, with a 1.75% floor, on the term loan, and 4% above Libor on the revolving loan when it is drawn on. Fortress wants to pay 0.625% on the credit facility when it is not drawn.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…