Free essay: hbs project: blackstone and the sale of citigroup's loan portfolio banaphol ariyasantichai, ryan stankiewicz, james freisinger, brian james. Bmo capital markets, bofa merrill lynch, citigroup, baird, fifth third securities, rbc capital markets, btig, jefferies, credit suisse and ramirez & co, inc as sales agents for sun communities, inc's (nyse: sui) $450 million “at-the-market ” (atm) offering program barclays as sole book-running manager for blackstone. Thomson reuters will receive approximately $17 billion in gross proceeds at closing (subject to purchase price adjustments) funded by $14 billion of debt and preferred equity to be incurred by the partnership and a $3 billion cash equity contribution by blackstone thomson reuters will retain a 45%. While i disagree with mr schwarzman's valuation assessment, i found the resulting back-and-forth with citigroup's william katz, a sell-side analyst, about share buybacks to be much more interesting when questioned by mr katz as to why blackstone does not simply buy back shares if the units are worth. Citi julian allen is a managing director and head of the emea real estate & lodging group within citigroup's investment banking division prior to moving to accor on the $19bn sale of motel 6 to blackstone, and macklowe properties on the $40bn sale of a new york office portfolio to boston properties. Rather than selling the assets, potentially at a loss, the banks transfer a slice of the risk associated with the assets, usually loans citigroup cut a deal at the end of last year with the private equity firm blackstone group, which insured the big bank against a portion of the losses on a roughly $1 billion pool. Tradeweb, now majority owned by thomson reuters, is likely to be valued at more than us$4 billion in an ipo or sale, sources said representatives for blackstone, reuters and tradeweb, along with investors barclays plc, citigroup inc, deutsche bank, goldman sachs group, jpmorgan chase & co. Only a few big deals have been made public: citigroup's sale of $12 billion of debt to tpg, blackstone and apollo, for instance but behind the scenes the activity has been frenzied chris taggert, of creditsights, a research firm, estimates that the overhang of lbo loans that banks are waiting to sell on to.
Barclays is considering buying internet bank egg, which has been put up for sale by citigroup other possible bidders are thought to include blackstone, the us private equity group an insider said barclays was looking at egg, though it was not clear whether it would pursue an acquisition it could merge. Hbs project: blackstone and the sale of citigroup's loan portfolio banaphol ariyasantichai, ryan stankiewicz, james freisinger, brian james financial markets. Blackstone has pursued its own logistics real estate investments in china with developer china vanke, and recently sold its european warehouse platform the glp management-led group hired goldman sachs, citigroup and morgan stanley to advise on a management-led buyout of glp in december.
Citigroup is close to selling $12bn (£61bn) of its leveraged loans to a trio of private equity houses in its latest attempt to draw an end to its own credit crisis. If the thomson reuters deal closes, blackstone would own a 55 percent stake in one of the largest suppliers of financial information and data the f&r unit provides news feeds, in depth analytics and trading information to all of wall street, which explains why so many banks are joining the financing effort.
Hbs project: blackstone and the sale of citigroup's loan portfolio blackstone and the sale of citigroup's loan portfolio in the second half of 2007, the banking industry and financial market showed signs of considerable stress by raising the default rate of mortgage and the decline in the value of residential. Citigroup, deutsche, goldman and société générale have co-originated a $19 billion financing package to refi a portfolio of 27 properties an additional four properties backed the previous cmbs loan: two were sold through tenant purchase options, and two were refinanced in separate transactions. Blackstone and the sale of citigroup's loan portfolio market conditions (i) • corporate credit expansion in the us between 2001 and the first half of 2007 was driven almost exclusively by the inflow of institutional (non-bank) funding into the syndicated loan market • the participation of a.
Additionally, smith barney generates net interest revenue by financing customers ' securities transactions and other borrowing needs through security-based lending smith barney also receives commissions and other sales and service revenues through the sale of third-party mutual funds as part of smith barney, citigroup. Neither universal nor sony had been seen as likely winners in the months of frenzied speculation since citigroup officially put emi, home to acts including the beatles and katy perry, up for sale in june rather, a partnership between private-equity firm kkr and germany media group bertelsmann ag was. Further, in late march, citigroup c became the first major wall street bank to announce changes relating to how it will conduct business with gun retailers bank of america, state street, vanguard group, t rowe price group, inc and blackstone are among the companies that have spoken against the. The teller role is a critical position for selected branch teams in helping the branches achieve its sales, service and operational goals the teller 2 creates and develops a positive relationship with citi's clients and delivers solutions by identifying referral opportunities for new products and services based on the customer's.
Private equity group blackstone (bxn) has agreed to sell european warehouse firm logicor to china investment corporation [cicul] (cic) for 1225 billion euros ($138 billion), cementing china's position as a player in european private equity exits. Notable deals: insight's $30 billion sale to time warner cable as adviser to insight, carlyle and the board of directors nbcuniversal's $1025 billion acquisition of blackstone's stake in universal th eme parks as adviser to comcast mediacom's $385 billion go-private transaction as adviser to chairman. The business times companies & markets - a trading halt by mainboard- listed croesus retail trust on tuesday got the market abuzz with speculation of a buyout offer for the trust read more at the business times.
In the wake of the parkland massacre, corporate america paused, took a moment to read the room, and concluded that perhaps being associated with routine mass murder was not the greatest look while politicians in washington—who've done nothing to restrict access to guns because, among other. Citi has reasserted its reputation as the bank to work for if you want to get paid in cash separately, blackstone has been doing some hiring for its exciting new ' big bet hedge fund,' senfina advisors the wall street journal hsbc hired ian burns from socgen to head pan-european sales for uk clients. Blackstone group lp, the world's largest private-equity firm, has devised a way to profit from regulation: it's helping banks meet tougher capital rules without the pain of selling assets or raising equity the firm last year insured citigroup inc against any initial losses on a $12 billion pool of shipping loans,.
Citigroup inc and goldman sachs group inc pulled off a sale of about $18 billion in bonds linked to blackstone group lp's acquisition of biomed realty trust inc, clearing their books of loans that have been parked there for months. Eastdil secured and goldman sachs were lead advisors to blackstone with additional advice provided by pjt partners, morgan stanley, bofa merrill lynch and citigroup simpson thacher & bartlett acted as legal advisors to blackstone ubs acted as financial advisor to cic clifford chance acted as legal. Although details of the deal were still being worked out, people familiar with the matter said apollo management, the blackstone group and tpg would buy the loan portfolio at a discount that could come in at about 90 cents on the dollar the citi portfolio includes loans used to finance acquisitions by.