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Capmark to redeem $263.9 million of floating-rate first-lien notes
By Tali David
Minneapolis, Jan. 11 - Capmark Financial Group Inc. will redeem $239 million principal amount of its floating-rate first-lien A notes due 2014 and $24.9 million of its floating-rate first-lien extendible B notes due 2015, according to a company press release.
The redemption date is Feb. 1.
Following the transactions, all of the A notes will be retired and about $475.1 million of the B notes will remain outstanding.
In addition, the company said it anticipates that its subsidiary, Crystal Ball Holding of Bermuda Ltd., will make a payment of $10.1 million to the holders of the company's former unsecured loans and unsecured notes on Jan. 18 under the terms of the Crystal Ball settlement agreement between the holders of the former unsecured loans and unsecured notes and Crystal Ball.
Capmark is a Horsham, Pa.-based real estate finance company.
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