Fortress $2 Billion Property Bond Likely to Miss Payment Date
A variety of bonds backed by real estate debt in particular have contended with these pressures, contributing to historic defaults of office-backed bonds and spiraling late payments on bonds tied to apartment buildings.
Photographer: Yuki Iwamura/BloombergA corporate entity tied to Fortress Investment Group warned investors that it will likely miss a key deadline to refinance about $2 billion of bonds backed by warehouses leased to Amazon.com, according to people familiar with the matter.
Fortress is “actively working on a solution for refinancing” the debt as a key July 15 repayment date approaches, the company said in a note to bondholders on Thursday seen by Bloomberg.