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iStar Financial Inc. Message Board

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  • rollnon rollnon Oct 19, 2010 12:35 PM Flag

    OT......Bonds

    Further to Financing efforts-CMBS make a comeback. Sources said Goldman Sachs (GS) and Bank of America (BAC) are expected to sell in the next two weeks $3B of senior debt left over from the 2007 purchase of Hilton Worldwide by Blackstone Group (BX); the two banks had provided $20B of financing for the deal but were stuck holding the loans when debt markets froze. The offering will likely be followed by a $2B deal involving the Extended Stay hotel chain that recently exited bankruptcy. Taken together, the two deals would mark the largest issuance of commercial mortgage-backed securities since the financial crisis, reflecting a resurgence in the CMBS market.

 
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