A $3,600,000 first lien
mortgage for the acquisition of a 73-unit multifamily building on Park street in Albany, NY.
The First Lien
Bank Lender Committee is advised by Stroock & Stroock & Lavan LLP and Rothschild Inc.
On 30 June 2011, in accordance with the terms of the first lien
notes, the company offered to purchase up to USD10m aggregate principal amount of its first lien
notes at a purchase price in cash equal to 100% of their principal amount, plus accrued and unpaid interest, if any, to, but not including the date of purchase.
The Offerors are also commencing exchange offers (the "Unsecured Exchange Offers" and, together with the First Lien
Exchange Offers, the "Exchange Offers") to exchange up to approximately $124 million aggregate principal amount of 11.
The First Lien
Bank Lenders are advised by Stroock & Stroock & Lavan LLP and Rothschild Inc.
A $1,200,000 first lien
mortgage to refinance a single-tenant on Page Avenue in Staten Island, NY.
As previously disclosed by CEOC, in connection with these discussions, the First Lien
Bank Lenders entered into non-disclosure agreements ("NDAs") with the Company pursuant to which the Company provided certain confidential information to the First Lien
A $1,990,000 first lien
mortgage to refinance a 10 unit multi-family on Duffield St in Brooklyn, NY.
All outstanding airport revenue bonds will have a prior lien on airport net revenues, however, under the new resolution no additional first lien
debt may be issued.
The recovery rating for Solo's senior secured first lien
credit facility, consisting of a revolving credit facility and term loan ('RR2'; expected 71%-90% recovery) reflect superior expected recovery given the security from substantially all assets.
A $1,600,000 first lien
mortgage to refinance a three-unit multifamily on Chauncey Street in Brooklyn, NY.
A $2,525,000 first lien
mortgage to refinance a 26unit multifamily property on East 160th Street in Bronx, NY.
The company has replaced this capital by expanding its first lien
term loan by $375.
A $1,275,000 first lien
mortgage to refinance a 3-unit multifamily property on 11th Street in Brooklyn, NY.
Company Expands First Lien
Facility to Prepay Second Lien Facility