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Debt Deals: NRF, MCGC

October 30, 2009

NorthStar Realty Finance (NRF) announced it completed a three year renewal of its credit facility with Wachovia Bank, a subsidiary of Wells Fargo (WFC), for three years. With the renewal, NorthStar agreed to make 15 million dollar semi-annual reductions of the facility over the three year term, and Wachovia agreed to eliminate margin call provisions as well as fixed charge and recourse debt covenants.