Morgan Stanley To Roll Over Loans For ANA Hotel Deal

Morgan Stanley and lenders have reached an agreement to roll over loans arranged for the US investment bank's acquisition of 13 hotels from the All Nippon Airways group in 2007, according to Nikkei. Morgan Stanley acquired the hotels for 381.3 billion yen, contributing 55 billion yen itself with the rest consisting of three year-year loans from Shinsei Bank, Citi Banks and GSIC. Citi is believed to have been replaced by Sumitomo Mitsui Banking Group this time.