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Bank OZK stock dips after Citi's cautious view on RaDD modification project
Seeking Alpha ·
Seeking Alpha reports: Bank OZK was trading lower after Citi said the regional lender's RaDD modification project is not a long-term solution to any potential default that the company faces on its loan to a special purpose subsidiary of the private REIT IQHQ. Shares were down 2.48% to $45.44 during afternoon trading on Tuesday. IQHQ-RADD 1, LLC had borrowed $915M from Bank OZK, with the debt originally maturing August 26, 2026. Based on the "Fifth Modification of Construction Leasehold Deed…