Member Log In: E-mail Address Password Remember me on this computer

August 16, 2005

By Michelle Napoli

Through a wholly owned subsidiary, Spirit Finance Corp. has issued $441.3 million of privately placed net-lease mortgage notes. The notes, rated AAA by Standard & Poor's Ratings Services and Aaa by Moody's Investors Service, encompass $183 million of class A-1 amortizing notes bearing annual interest of 5.05%, as well as $258.3 million of class A-2 interest only notes bearing annual interest of 5.37%; both classes are due in 2020. An insurance policy issued by Ambac Assurance Corp. guarantees payments on the notes.

Subscribers: Click Here for the Full Story

Non-Subscribers: Click Here to Subscribe