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| Press Room - 2003 |
| FOR IMMEDIATE RELEASE |
| CSFB establishes U.K. Real Estate Lending Conduit |
London, July 14, 2003 -
CSFB is pleased to announce the formation of the U.K. Real Estate Lending Conduit. The Conduit will be managed by CSFB’s European Real Estate Finance Group and has been established to target borrowers seeking finance secured on real estate located through the United Kingdom.
The Real Estate Lending Conduit will focus on sterling dominated loans from a minimum size of £10 million secured on all property types including specialized properties such as leisure, pubs and hotels. CSFB will extend its mezzanine product to borrowers seeking additional leverage above senior loans provided by the Real Estate Conduit and will work closely with the Real Estate investment banking group, led by Ian Marcus.
Doug Tiesi, Director and Head of CSFB’s European Real Estate Finance Group, said: “We are delighted to be able to offer this product to U.K. investors and look forward to providing competitive financing for their property acquisitions and refinancings. We consider that this is the perfect time for CSFB to increase its lending activities in the U.K. given the increasing demand for the product and the opportunities available to us in this market.”
The establishment of the UK Real Estate Lending Conduit is an extension of the Firm’s successful US conduit business, which lent over $6.5 billion in 2002 and the UK large real estate loan program that originated over $750 million in senior and mezzanine loans, including the facility provided to Sun Capital for the acquisition of the freehold properties from Centerparcs and to the Football Association for the development of Wembley Stadium.
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Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB’s businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 34 countries across five continents. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company.
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| Rebecca O’Neill |
CSFB – London |
Tel: 44 20 7883 7373 |
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