Relevant:
- Lone Star Funds Said to Raise $1.2 Billion for Distressed Funds
- Accredited Sues Lone Star Seeking Closure Of $400 Mln Takeover; Still Recommends Deal To Stockholders
- Lone Star Has New Accredited Deal, Worth $296 Million
- Huge writedowns forecast for banks after Merrill Lynch’s cut-price sale of debt
- Subprime lender Accredited Home bought by Lone Star
2008-07-30 — wallstreetexaminer.com
Merrill sends over the CDOs to Lone Star and receives $6.7 billion, but Loan Star gets 75% financing so the net to Merrill is (6.7 X 75%) $1.675 billion.
Thus Merrill ends up with $1.675 billion in cash and a loan outstanding to Lone Star in the amount of $5.025 billion.
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