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CRE Lender Anthracite Teeters After Defaulting on $79 Million in Debt

CoStar News
December 10, 2009 | 3:15 AM

Commercial real estate lender Anthracite Capital Inc. has defaulted on $79.25 million aggregate principal amount of three series of senior notes for not making interest payments of $1.6 million due Oct. 30. The senior notes the company defaulted on are its outstanding $13.75 million aggregate principal amount of 7.22% senior notes due 2016, $28 million aggregate principal amount of 7.772%-to-floating rate senior notes due 2017 and $37.5 million aggregate principal amount of 8.1275%-to-floating rate senior notes due 2017.

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