Morgan Stanley rolls over loans from lenders for 2007's ANA hotels deal
Morgan Stanley and its lenders have reached an agreement to roll over loans arranged for the US investment bank's 2007 acquisition of 13 hotels from ANA Group, originally operated by Japan’s second largest airline company All Nippon Airways.
The US investment bank paid JPY381.3 billion ($4.68 billion) to acquire the 13 ANA hotels located across Japan. The deal was noted at the time as a very highly leveraged purchase. Of the acquisition price,...
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