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Deutsche Bank to Lend $1.9B to Kyo-ya Hotels & Resorts

Deutsche Bank to Lend $1.9B to Kyo-ya Hotels & Resorts

Deutsche Bank AG will lend $1.9 billion to Kyo-ya Hotels & Resorts LP, owner of five Starwood-branded hotels in Hawaii and one in San Francisco, reports Bloomberg Businessweek. The Frankfurt-based lender, which was competing with Credit Suisse Group AG, JPMorgan Chase and Co. and Citigroup Inc. to underwrite the deal, plans to package the debt into about $1.5 billion of commercial-mortgage bonds, according to people with knowledge of the negotiations. The transaction will mark the second time in less than two years that Kyo-ya Hotels & Resorts has turned to the market to refinance, the article states.

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