Archstone-Smith to hold bank meeting on Wednesday for loan backing $22 billion merger

By Paul A. Harris

St. Louis, Sept. 14 - Archstone-Smith will hold a bank meeting on Wednesday for a new credit facility backing the buyout of the company by Tishman Speyer Properties, a deal valued at $22 billion, including assumed debt.

The size and tranching of the credit facility remain to be determined.

Lehman Brothers and Bank of America are leading the deal.

The transaction is expected to include a $5.1 billion equity contribution.

Archstone-Smith is an Englewood, Colo., real estate investment trust.

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