By now everyone knows that Carlyle Capital Corp, a publicly listed investment company managed by a unit of private-equity firm the Carlyle Group, admitted today it had received a notice of default from one of its banks after failing to make margin calls on its $21.7 billion real estate securities portfolio. It also expects to receive at least one more default notice after falling short of margin requirements with four lenders.
So who are the lenders sending default notices and who are the one who are just chillaxing? As of December 21, Carlyle’s lenders were Bank of America, Bear Stearns, BNP Paribas, Calyon, Citigroup, Credit Suisse, Deutsche Bank, ING, J.P. Morgan, Lehman Brothers, Merrill Lynch & Co. and UBS AG. None of the lenders have commented on who pulled the trigger first and whether they would be adding to the slush pile of default letters. We've been digging for hours but we have come up empty. So we’re turning to you. Anyone know which lenders are punching up Carlyle?
Carlyle Capital Adds to Fears Of Forced Sales [Wall Street Journal]
Posted by guest, Mar 06, 2008 4:10PM
Citi, Bear, Merrill, and maybe Calyon - best guess