RE Company Prices IPO

Published June 30, 2005, 2:00 p.m. EDT

1 Min Read

Deerfield Triarc Capital Corp., Chicago, has priced an initial public offering of 25 million shares of common stock at $16 per share.The offering includes approximately 680,000 shares being sold by existing stockholders. Credit Suisse First Boston, Merrill Lynch & Co., UBS Investment Bank, and Deutsche Bank Securities were the joint book-running managers of the offering, the company said. The underwriters have been granted an option to buy up to 3.75 million additional shares to cover any overallotments. The shares of the new company are trading on the New York Stock Exchange under the symbol "DFR." The company said it will elect to be taxed as a real estate investment trust. It invests in real-estate-related securities and various alternative investments, such as collateralized debt obligations, consumer asset-backed securities, and corporate mezzanine loans.

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