iStar Financial announced that it has engaged J.P. Morgan, Barclays Capital and Bank of America Merrill Lynch to arrange a $1.8 billion refinancing of its 2011 senior secured credit facility.

The 2011 facility is comprised of two tranches of loans scheduled to mature in 2013 and 2014, respectively. The new facility would refinance the entire remaining balance of the 2011 facility with a new senior secured first lien term loan due in 2017. The new facility would be collateralized 1.25x by substantially the same collateral pool as presently exists under the 2011 facility.

J.P. Morgan and Barclays Capital are acting as Joint Physical Bookrunners and, together with Bank of America Merrill Lynch, will serve as Joint Lead Arrangers and Bookrunners.

iStar Financial is a fully-integrated finance and investment company focused on the commercial real estate industry.