iStar announced that it has engaged J.P. Morgan, Barclays Capital and Bank of America Merrill Lynch to arrange a $450 million senior secured term loan facility to reprice and partially repay iStar's existing $497 million senior secured credit facility. The proposed facility will be collateralized by the same pool with the same 1.25x collateral coverage and the same maturity date as the existing facility.
J.P. Morgan is acting as Lead Left Bookrunner and J.P. Morgan, Barclays and BofA Merrill Lynch are serving as Joint Lead Arrangers and Bookrunners.