Colony Financial, Colony Capital To Provide Loan
LOS ANGELES (AP) ¿ Colony Financial Inc. and Colony Capital LLC said Wednesday that they will provide a $206 million senior secured term loan to William Lyon Homes.
Colony Financial, a real estate finance company, will put up $50 million of the loan amount, with funds managed by Colony Capital financing the rest of the amount.
William Lyon Homes plans to use the loan's proceeds to bolster its liquidity, buy back debt, restructure its balance sheet, make potential land acquisitions and for general corporate purposes.
Shares of Colony Financial, which went public last month, shed 9 cents to $19.90 in afternoon trading.
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