Retail Industry
Industry: Email Alert RSS FeedConfirm Prudential will finance Macy's buyout.
Daily News Record, May, 1986
Confirm Prudential Will Finance Macy's Buyout
The Prudential has agreed to provide $800 million in mortgage financing for the proposed $3,687,000,000 leveraged buyout of R.H. Macy & Co.
The announcement confirms an exclusive report (DNR, March 27, Page 19) that Prudential would supply the mortgage financing for the $68-a-share management-led buyout.
Prudential said the mortgages cover 71 Macy's stores and constitute the bulk of the real estate financing for the buyout. Frank MacDougal, president of Prudential Mortgage Capital Co., a subsidiary of The Prudential, said the mortgages are to be repaid over 15 years, and the lender will share in any appreciation of the covered property over the term of the loan. Sixty-one of the stores are in...
Most Recent Reference Articles
- ARAB EUROPEAN RELATIONS - Dec 22 - Russia Denies Selling Missile System To Iran
- EGYPT - Dec 29 - Opposition Says Mubarak Blessed Israeli Attacks
- ARAB AFFAIRS - Dec 22 - Syria Will Eventually Move To Direct Talks With Israel
- ARAB AFFAIRS - Dec 30 - GCC Denounces Massacre
- ARAB ISRAELI RELATIONS - Israel Issues An Appeal To Palestinians In Gaza
Most Recent Reference Publications
Most Popular Reference Articles
- The Greek chorus, Jimmy the Greek got it wrong but so did his critics - Jimmy Snyder and his views on pro sports and race
- How Tyler Perry rose from homelessness to a $5 million mansion
- 9 questions to ask your new lover: what you were afraid to ask, but always wanted to know
- Credit card debt on college campuses: causes, consequences, and solutions
- Living by the word: light the candles
