Credit Suisse Group AG completed Europe’s first commercial real estate collateralized loan obligation, according to lawyers involved in the deal, breaking into a market that’s more than doubled in the U.S.
The bank on Friday sealed a deal with commercial real estate lender Starz Real Estate, according lawyers at Reed Smith who represent the borrower. The agreement, denominated in euros and pounds, is worth the equivalent of 220 million pounds ($297 million). A spokeswoman for Credit Suisse confirmed the deal had settled.
Volta Finance Limited (LON:VTA) is a closed-ended limited liability company registered in Guernsey. Volta’s investment objectives are to seek to preserve capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis.