Fortress In $440 Million Refinancing

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.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

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

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note