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 tags available
A choice of law clause in a commercial contract chosen by the parties is generally enforced. In Nedlloyd Lines B.V. v. Superior Court,1 the California Supreme Court concluded that choice of law provisions in a parties contract were enforceable. This... read more
This year, Cisco Capital celebrates its 20th anniversary. Amid the celebrations of reaching this considerable milestone, we reflected on the past two decades and recognized several insights into both the evolution of technology vendor finance and the technology industry as... read more