Accredited Obtains Regulatory Approvals for Lone Star Acquisition
Accredited Home Lenders Holding Co. (NASDAQ:LEND) (“Company”) today announced that it has received regulatory approvals from states representing over 95% of the Company’s loan production volume for 2006, thereby satisfying one of the primary conditions to the close of the pending tender offer for the Company’s outstanding stock by an affiliate of Lone Star Fund V (U.S.), L.P. The tender offer is currently scheduled to expire at midnight on August 14, 2007.
About Accredited
Accredited Home Lenders Holding Co. is a mortgage company operating throughout the U.S. and in Canada. Accredited originates, finances, securitizes, services, and sells non-prime mortgage loans secured by residential real estate. Founded in 1990, the company is headquartered in San Diego. Additional information may be found at www.accredhome.com.
About Lone Star Funds
Lone Star is a leading U.S. private equity firm. Since 1995, the principals of Lone Star have organized private equity funds totaling more than $13.3 billion to invest globally in corporate secured and unsecured debt instruments, real estate related assets and select corporate opportunities. Additional information may be found at www.lonestarfunds.com
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