PacWest is selling a loan portfolio for $2 billion and is planning further sales
PacWest Bancorp PACW, +0.56% said Monday it agreed to sell a lender finance loan portfolio to Ares Management Corp.
in a deal expected to provide $2 billion before transaction costs for the bank. Additional tranches to generate more cash are currently expected to close in “future periods” as unfunded commitments are disbursed and then sold, PacWest said. PacWest said the first tranche closed on June 22 when Ares bought an aggregate outstanding principal balance of $2.07 billion and assumed $187.14 million of the $1.33 billion unfunded commitment in the portfolio.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Warner Bros. to Implement AI Film Management SystemWarner Bros. has put the peddle to the metal in the Hollywood artificial intelligence race by signing a deal to implement an AI system.
Lire la suite »
Tribeca doctor filmed patients wearing eye coverings without consent: suitA Tribeca doctor who pushes ketamine infusions for pain management films patients without their consent while they’re undergoing psychedelic treatments, according to a lawsuit.
Lire la suite »
Court Approves Soros Fund, Fortress Bid to Buy Vice Media for $225MA management fund tied to Democrat billionaire megadonor George Soros is among the group of buyers that will purchase the bankrupt Vice Media.
Lire la suite »
Bricks over bytes: New hard asset ETF places big bet on real estateCBRE's Investment Management launched the IQ CBRE Real Assets ETF last month with the idea it will deliver inflation protection in a rising rate environment.
Lire la suite »
Data & VisualsFind new ideas and classic advice on strategy, innovation and leadership, for global leaders from the world's best business and management experts.
Lire la suite »
Apollo leads big debt investment in chip maker Wolfspeed: reportsApollo Global Management is leading a group of lenders making a debt investment of as much as $2 billion in chip-maker Wolfspeed Inc. to support its U.S....
Lire la suite »