Wednesday, June 16, 2010

Kerzner International hires Blackstone to address debt maturity in paradise lost

In 2006, a consortium of investors including Dubai World, a Goldman Sachs fund and Colony Capital raised USD 3.2bn to take Kerzner International private. That CMBS debt falls due in September, and with no clear avenue for refinancing, the Bahamas-based empire of luxury resorts has hired Blackstone Group for advice, two financial advisors and a real estate investor told Debtwire.

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