Cerberus-backed LNR pursues $400m restructuring plan

LNR Property will launch a $400m rights offering to recapitalise its business. The firm, the parent company of the largest special servicer in the US, LNR Partners, has engaged Goldman Sachs and Bank of America Merrill Lynch for a new $445m loan which, together with the rights offering, will refinance a $868m senior loan.

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