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Porsche revs up new loan
14 years ago
UniCredit reported in this morning’s credit research that Porsche has obtained a new loan. -
Lloyds to increase CoCo new issuance amount to £7 billion
14 years ago
Lloyds announced on 11 November that it will increase the maximum new issue amount of its contingent capital notes from £5.5 billion to £7 billion -
Drop restructuring for CDS index trades, posits Bank of America/Merill Lynch
14 years ago
Bank of America/Merrill Lynch credit analysts posit a compromise for the restructuring credit event. -
Ambac Financial points to possible chapter 11
14 years ago
Ambac Financial Group reported in its latest regulatory filing at the SEC that should liquidity run out prior to second quarter 2011, it may pursue restructuring its debt through a prepackaged bankruptcy proceeding. -
Barclays forecasts 2010 new issuance at $750 billion
14 years ago
Barclays Capital analysts expect a decline in gross fixed-rate issuance in 2010, to around $750 billion. -
US homebuilder ruling spooks distressed credit investors
14 years ago
A legal battle is currently ongoing at the US bankruptcy court for the southern district of Florida. -
US retailer obtains loan amendment
14 years ago
Michaels Stores obtained a loan amendment on 5 November for its $2.4 billion senior secured term loan facility with Deutsche as administrative agent. -
Lear restructures debt and exits chapter 11
14 years ago
Lear announced yesterday that it has exited bankruptcy. -
Portfolio managers pushed into high-beta hunt, says Goldman Sachs
14 years ago
Record-setting flows into investment grade and high yield mutual funds this year have led Goldman Sachs credit strategists to suspect that resulting mandates have left portfolio managers with no choice but to chase high-beta credits. -
US broadcasting company warns of bankruptcy
14 years ago
In its most recent SEC filing, Citadel Broadcasting reported that there is a possibility of it filing for chapter 11 bankruptcy. -
US credit card lender files for chapter 11
14 years ago
US credit card lender Advanta has filed for chapter 11 bankruptcy over the weekend in the US bankruptcy court for the district of Delaware. -
Wind Hellas restructuring proposal approved by senior lenders
14 years ago
Wind Hellas’s owner, Weather Investments, will continue to be the company’s owner after proposing to inject €125 million into the heavily indebted Greek mobile company. -
CBS enters into new revolver
14 years ago
CBS announced yesterday that it has obtained a new three-year $2 billion revolving credit facility from JP Morgan and Citi. -
Moody's expects high yield defaults to peak at 12.5%
14 years ago
Moody’s expects the global speculative default rate to peak at 12.5% by the end of this month. -
A new capital cushion instrument is born, says BNP
14 years ago
With the recent announcement of Lloyds’ exchange offer for new enhanced capital notes (ECNs), BNP Paribas credit analysts suggset that these instruments, called contingent convertibles (“cocos”) may be better suited to act as a capital cushion for banks. -
MGM Mirage amendment good for short term debt
14 years ago
MGM Mirage’s third quarter results, headlined by a $750.4 million loss due to fallen values of its latest casino projects, will be good news for short-term debt holders, market sources say. -
Naftogaz completes debt restructuring
14 years ago
Ukrainian energy company Naftogaz announced today that it has completed its debt restructuring. -
Lower demand for govvies will tighten corporate spreads, says JP Morgan
14 years ago
JP Morgan credit analysts point to a potentially significant imbalance between government bond demand and supply in 2010, which will put upward pressure on bond yields and lead to tighter corporate spreads. -
Laminate producer files for prepack chapter 11
14 years ago
US laminate manufacturer Panolam Industries International announced yesterday that it and its US affiliates filed for a prepackaged chapter 11 bankruptcy at the US bankruptcy court for the district of Delaware. -
Dexia exercises no-call for 18 November
14 years ago
BNP Paribas analysts report that Dexia has confirmed that it will not be calling its upper tier-two 6.25% bond on 18 November. -
Goldman Sachs downgrades US Steel
14 years ago
Goldman Sachs strategists dongraded US Steel from outperform to underperform. -
Lloyds announces exchange offer for upper tier-two
14 years ago
Lloyds released details of its exchange offer today with respect to 52 series of existing upper tier-two securities. -
CLO manager consolidation picks up as Ares buys Allied
14 years ago
The credit market is seeing further CLO manager consolidation with news that Ares Capital is to acquire Allied Capital in and all-stock transaction valued at $648 million -
ING likely to pay hybrid coupons, says BNP Paribas
14 years ago
Commenting on ING's debt restructuring, BNP Paribas analysts highlight the likelihood of the bank paying coupons on its hybrid securities. -
Japan Airlines debt restructuring comes under fire
14 years ago
Troubled Japan Airlines's liabilities could exceed its assets by JPY800 billion ($8.8 billion) should the company be liquidiated, Reuters reports.
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