Daily News: May 28, 2013

Bloomberg: Arcapita Weighs Loan Offers From Fortress, Goldman

Bloomberg reported that the bankrupt Arcapita Bank is considering a revised exit financing agreement from Fortress Credit Corp., which would compete with an existing proposal from Goldman Sachs.

Bloomberg noted that in papers filed by Fortress in the U.S. Bankruptcy Court in Manhattan that despite being in talks since last year to provide Arcapita with a $350 million exit loan, the bank chose Goldman’s offer leaving Fortress disappointed. According to the article, Arcapita is seeking “approval of the best exit facility proposal,” regardless of its benefactor.

To read the entire Bloomberg story, click here.

Previously on abfjournal.com:

Arcapita Bank Files for Chapter 11 After Refinancing Efforts Fail, Tuesday, March 20, 2012