RentPath acquisition to hand victory to creditors

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By Paola Aurisicchio
19 Feb 2020

A handful of CLOs are poised to benefit from CoStar Group's acquisition of troubled apartment rental listing firm RentPath, which has agreed to be acquired out of bankruptcy for $588m.

The deal was announced last Tuesday as RentPath said it would seek chapter 11 bankruptcy protection. Upon bankruptcy court approval and regulatory review, the closing of the deal would be a boon for creditors, including several CLOs with exposure to RentPath.

The firm has a $492.3m term ...

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