Where to get a Bridge LoanHow can I get a bridge loan?
As rumors of a $100 billion to $130 billion operation to support the purchase of the outstanding 45% of Verizon Communications' shares, which it did not hold in Verizon Wireless from the Vodafone group, began to emerge, the question was whether such a thing would be possible. "It really is one time in a row, one time in a lifetime," said Anish Shah, Morgan Stanley's GM loan director.
JPMorgan, Morgan Stanley, Bank of America Merrill Lynch and Barclays were jointly acting as Arranger and Bookrunner in the record-breaking book. This 364-day credit line was drawn in equal parts by the four participating financial institutions and comprised a $12 billion bridge for credit and a $49 billion bridge for debt. Morgan Morgan and Morgan Stanley were overall coordinators, while JP Morgan was the management agents.
Not only has the jumpo-loan supported the biggest ever acquisitions, it is also the biggest ever commitment in terms of funding and the biggest ever bridging loan. In view of the USD 15.25 billion pledged by each of the underwriters, which is significantly greater than most M&A transactions, a rapid take-out in the fixed-income markets was of utmost importance.
Those were commitments that were probably greater than most deals," said Peter Hall, BofA Merrill's GM Credit Line Manager. The USD 12 billion long-term loan was syndicated in the same weeks, opening the door to banks' high demand for backed asset. In the following weeks, Verizon substituted USD 49 billion in fixed income for the bridge-to-bond part.
If you need short-term funding, a bridging loan can be the solution. Our ability to grant loans will depend on your circumstance and you must be at least 18 years of age. Interest rates and maturities at which we loan represent our judgment of the nature of your company, the loan amount selected and the nature of the loan.
Bridge loans. The Cumberland.
THE RIGHT BRIDGE FOR YOU? An interim loan is a short-term financing facility, usually of 12-month or less, used by real estate landlords to buy another real estate if their resources are temporary committed to another location, such as another real estate or capital outlay. Bridge credits "bridge" the difference between the acquisition of a real estate and the selling of another or the retirement of an assets.
Our bridge credits are available for those who need a longer-term mortgages on their real estate. Please call us on 01228 403141 for more information on our bridge loan product or make an on-line reservation at your local office. Bridge credits can only be offered for real estate within our business segment.