Friday, 26 December 2014
Last updated 2 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.