US software security firm McAfee LLC is raising US$4.75bn of new leveraged loans to finance a dividend payment of around US$2bn and refinance existing debt as the company prepares for an Initial Public Offering (IPO) as soon as next year. McAfee, which is owned by private equity firm TPG Capital and computer hardware giant Intel,...
South Africa’s economy is under significant pressure and, for a number of reasons, there is little promise that this will change in the near future. In May this year, the International Monetary Fund (IMF) predicted only 1% growth in 2017, up 0.2 percentage points from their previous prediction of 0.8%. regardless the economic challenges that...
Take a look at loan origination for commercial real estate properties in New York City in the second quarter and you’ll find something unusual: The quarter’s biggest loans aren’t just big, they’re astronomically big. And the size of those loans appears to be masking what would otherwise look like a decline in NYC loan origination...
Commercial real estate capital stacks have become more complex in recent decades, allowing project sponsors and investors alike to fine-tune the level of risk they are tolerating, and get projects done that may not have been financeable in the past. One newer program, known as Property Assessed Clean Energy financing, is poised to seize a...
Kinross Gold Corp. ( KGC ) informed the market through a news release published on its Web site June 28 that it is going to issue a $500 million corporate loan made of 4.50% interest-bearing unsecured senior notes with maturity in 2027. The closing of the company’s notes offering is scheduled by Kinross Gold for...
A luxury apartment complex in Boston’s upscale South End neighborhood. Amazon’s midtown Manhattan headquarters and distribution center across from the Empire State Building. A thirty story class A office tower at 123 North Wacker Dr. in Chicago’s West Loop. What these commercial properties have in common is that all were financed within the past two...
7) Clickbait real estate – $235 million Home to Facebook and BuzzFeed, Orda Management’s 225 and 235 Park Avenue South was recently refinanced by Barclays for $430 million. Newmark Knight Frank’s Jordan Roeschlaub and a team represented Barclay’s on the deal. 8) Refinance harvest – $230 million French bank Credit Agricole, also referred to as...
Most commercial lender are terrified of commercial loans right now. Below are practical tips on finding the right commercial lender at a time when most commercial lenders would have have a root canal than actually fund a commercial loan. Commercial Lending Tightest it’s been in 25 Years Commercial real estate has already tumbled by 40%....
Business loans have flattened out after several years of growth. Is this is bad sign for the economy, or just normal fluctuation? Nobody should be worried by this being a sign of forthcoming recession, but I am concerned that it may mean greater bank tightening of credit terms. The chart shows what bankers call “commercial...
The name may be familiar. Tennessee Bank & Trust, which has been part of a bigger company, is now striking out. That dollars a recent trend since Tennessee had lost nearly a bank a month over the last few years, mainly through acquisitions and mergers. There hasn’t been a new bank to promote commercial lending...
