Shearman & Sterling Advises Olayan on $570 Million Mortgage Loan to Refinance New York’s Sony Building
Shearman & Sterling represented Olayan America, the US arm of The Olayan Group, a private international investor, in connection with a $570 million mortgage loan from a syndicate of five banks arranged by ING Capital LLC, SG Americas Securities, LLC, Crédit Agricole Corporate and Investment Bank, Natixis Real Estate Capital LLC and The Bank Of East Asia, Limited, New York Branch, for the purpose of refinancing the former Sony Building located at 550 Madison Avenue, New York, New York. ING Capital LLC acts as the administrative agent for the financing. The transaction closed on November 18, 2016.
The Shearman & Sterling team included partner Malcolm Montgomery
(New York); counsel Paul Balaam
(London); and associates Kris Ferranti (New York) and Jonathan Newman (New York).