Bloomberg: Lone Star Said to Buy $1B of CIT Commercial Loans

Published March 14, 2012 
Categories: Industry News

Share via emailShare on Facebook+1Share on LinkedInShare on Twitter

Bloomberg reported that Lone Star Funds has agreed to buy $1 billion in commercial loans from CIT, citing a source with knowledge of the sale.

Lone Star, a Dallas-based private equity firm, is purchasing mostly senior secured loans, as well as some junior secured debt, in about 72 companies, according to the person, who asked not to be named because the transactions haven’t been announced, Bloomberg said.

CIT sold more than $3.5 billion of lower-yielding assets last year, according to a presentation from JPMorgan’s Global High Yield & Leveraged Finance conference in February, the article noted.

To read the full Bloomberg article click here.

No comments

Tell us what you're thinking...

We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam, and we review comments frequently to ensure they meet our standards. Views expressed in the comments do not represent those of the Monitordaily.