Serbia Agrees to Name McKinsey’s Krstic as Finance Chief

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August 17, 2013 by apicomely

NorthStar Realty Finance Announces Pricing of a $531.5 Million Floating Rate CMBS Transaction

Whilst I am saddened that his health has forced this decision on him sooner than either of us would have wished, I respect his decision and wish him well in the future, Barclays Chairman David Walker said in the statement. He has successfully navigated Barclayss finances through one of the most difficult periods in its history. Lucas, the last of former Chief Executive Officer Robert Diamond s senior managers to depart, is leaving ahead of a planned 5.8 billion-pound ($9 billion) rights offering, which stands to be the biggest by a U.K. bank since Lloyds Banking Group Plc (LLOY) s 13.5 billion-pound sale in 2009. CEO Antony Jenkins , 52, is selling the shares after financial regulators identified a 12.8 billion-pound capital hole at the bank. Unhelpful Timing Its unhelpful timing for Barclays, said Ian Gordon , an analyst at Investec Plc (INVP) in London , who has a buy recommendation on the shares.

Barclays CFO Chris Lucas

At age 29, according to newspapers Blic, Politika and Novosti, he would be the countrys youngest-ever Finance Ministry head. Dacic is planning to present members of his revamped cabinet to lawmakers on Aug. 26. Vucics dominant Serbian Progressive Party wants the new government to consolidate public finances, lay out a foundation for economic growth and prepare for a possible new standby agreement with the International Monetary Fund and the EU. Krstic is our message to all the young, creative and intelligent people, who unfortunately had to leave this country in the past decades, that the doors are wide open, Serbian Progressive Party official Milenko Dzeletovic, who coordinates the partys economic team, told state TV broadcaster RTS yesterday.

The CMBS transaction is expected to close by the end of August. As part of the CMBS transaction, NorthStar will contribute senior participations of originated commercial real estate loans, including an interest in the leasehold mortgage on the Milford Plaza hotel, and will retain $124.4 million of participations in these loans (the “Retained Interests”). NorthStar expects to earn a yield of approximately 13% on its Retained Interests, inclusive of fees and estimated transaction expenses. NorthStar, together with NorthStar Income, will retain an aggregate 35% ownership interest in the Milford Plaza hotel and retail component of the hotel. The bonds are being offered inside the United States to (1) qualified institutional buyers within the meaning of Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and (2) to other institutional investors that are accredited investors within the meaning of rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.


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