Deutsche Bank has acquired a vendor loan note worth as much as $650 million linked to a portfolio of non-distressed Australian real estate loans, sources told Street Talk.
It's understood the vendor loan note was included in the Australian portion of a financing package offered by GE Capital when it sold its $US23 billion global property empire to private equity giant Blackstone and US bank Wells Fargo in April.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
