September 11, 2013 / 12:22 PM / 4 years ago

Bayview Mortgage Capital withdraws IPO plans

Sept 11 (Reuters) - Bayview Mortgage Capital Inc, which has links to private equity firm Blackstone Group LP, said it has decided to withdraw its initial public offering plan, four years after the REIT filed for an IPO of up to $500 million.

The company did not cite a reason for the withdrawal in a filing with the U.S. Securities and Exchange Commission on Wednesday. ()

Bayview, which first filed for the IPO in 2009, aimed to use the proceeds from the offering to buy distressed real estate loans from banks and other lenders and investors.

The company is backed by Bayview Asset Management, which is partly owned by Blackstone. ()

Bayview planned to buy and manage residential and commercial mortgage loans, mortgage-backed securities, real estate-related securities, real estate, and various other forms of real estate investment.

Deutsche Bank Securities, Morgan Stanley and Credit Suisse were the underwriters to the offering.

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