IStar Inc. is looking to obtain lender commitments for a new senior secured term loan to repay the $376 million outstanding amount on the existing facility and to fund the partial redemption of its $770 million of senior unsecured notes due July 2019.
The diversified real estate investment trust aims to upsize, reprice and extend the existing term loan's maturity to June 2023 from October 2021, among other changes.
J.P. Morgan is the lead left book runner and J.P. Morgan, Barclays, Bank of America Merrill Lynch and Morgan Stanley are the joint lead arrangers and book runners.
