Thursday, 21 August 2014
Last updated 11 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note