Friday, 9 October 2015
Last updated 13 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 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…