Credit Corporate Debt

  • Aug 25- Struggling retailer Sears Holdings Corp posted a quarterly net loss, and the company said it accepted additional debt financing of $300 million from billionaire Chief Executive Edward Lampert's hedge fund. The company had said in April that it had obtained a $500 million loan to fund a transformation and Lampert's hedge fund, ESL Investments, had...

  • Aug 25- Sears Holdings Corp posted a net loss due to lower sales of home appliances and apparel, and the company said it accepted debt financing of $300 million from Chief Executive Edward Lampert's hedge fund, ESL Investments. The owner of the Sears department store and Kmart discount store chains reported a 5.2 percent drop in comparable store sales for the...

  • Tesla investor on bond buy

    Joe Dennison, Zevenbergen Capital Investments Associate Portfolio Manager, discusses the SolarCity bond offering to Elon Musk and his cousins the Rive brothers. The "Fast Money" traders weigh in.

  • Diamond: SCTY bond deal 'troubling governance move'

    Stephen Diamond, Professor at Santa Clara University’s School of Law, discusses SolarCity's bond offering to Elon Musk and the Rive brothers, and what corporate governance issues surround the merger between Musk's Tesla and SolarCity.

  • Musk's backing of SolarCity

    CNBC's Phil LeBeau reports the details of Elon Musk's and the Rive brothers' deal for SolarCity's debt.

  • Aug 22- A Wells Fargo& Co unit will pay $4.1 million to settle allegations that it engaged in illegal private student loan servicing practices that unfairly penalized certain borrowers, the Consumer Finance Protection Bureau said on Monday. The $4.1 million sum includes a $3.6 million penalty to the bureau and a $410,000 fund for borrowers.

  • Aug 22- A Wells Fargo& Co unit will pay a total of $4.1 million to settle charges that it engaged in illegal private student loan servicing practices that unfairly penalized certain borrowers, the Consumer Finance Protection Bureau said on Monday. The CFPB said it identified breakdowns throughout Wells Fargo's servicing process, including failing to provide...

  • SAO PAULO, Aug 19- Ativos SA will perform bad debt-collection activities for parent company Banco do Brasil SA, the state-controlled lender that wants to expand in Brazil's thriving troubled loan market, Chief Risk Officer Walter Malieni said in an interview. Toxic debt is also increasing for companies, which are succumbing to flagging sales and record...

  • Is the UK now an attractive place to issue corporate debt?

    Alix Stewart, fund manager at Schroders, talks about the impact of a weaker sterling and Bank of England policy on corporate bond issuance.

  • The company's shares were up 5.3 percent at $31.58 in premarket trading. Valeant, whose long-term debt stood at about $31 billion as of June 30, had asked lenders in March to amend its credit agreement to give it more time to file its financials. Congress and several U.S. government agencies also opened investigations and the company restated earnings earlier...

  • SHANGHAI, Aug 18- China's state council has approved a 200 billion yuan venture capital fund to invest in innovative technology and industrial upgrading projects, the country's state assets regulator said on Thursday. The fund is financed by China Reform Holdings Corp Ltd, China Postal Savings Bank, China Construction Bank Corp and Shenzhen Investment...

  • Aug 16- Blackstone Group LP has offered a financing plan to help debt-laden U.S. supply chain management company JDA Software Group Inc, giving it an alternative option to selling itself to Honeywell International Inc, people familiar with the matter said. JDA's majority owner, buyout firm New Mountain Capital LLC, now has to decide whether to sell the company...

  • BRIEF-TIOMA THERAPEUTICS REPORTS $86 MILLION SERIES A. Aug 16- Tioma Therapeutics, Inc:. *Series A financing was co-led by Rivervest Venture Partners, Novo Ventures, Roche Venture fund and S.R. One Limited.

  • The company, whose total debt stood at about $8.68 billion as of June 30, said it had commenced tender offers to buy back $500 million of convertible senior notes due 2037 and 2038.. Chesapeake said Goldman Sachs Bank USA, Citigroup Global Markets Inc and MUFG helped arrange the term loan. The company last week announced the sale of its Barnett shale acreage in...

  • NEW YORK, Aug 14- Several of this year's top-performing bond funds are sticking with high-yield "junk" bonds, convinced that a global hunt for returns will keep the speculative-grade U.S. corporate debt on course for its best year since the financial crisis. "There is a lot more room to run for high-yield," said Ford O'Neil, manager of the $25.2 billion Fidelity Total...

  • BEIJING, Aug 12- The International Monetary Fund on Friday said China needed to slow its unsustainable credit growth and stop financing weak firms. "China's corporate debt is still manageable, but at approximately 145 percent of GDP, it is high by any measure," said James Daniel, IMF Mission Chief for China, in the fund's annual review of the country.

  • China Bonds

    Beijing appears willing to let some of the state-owned enterprises and local bond investors take a haircut, says NAB's Mark Todd.

  • DOVER, Del., Aug 10- Embattled investor Lynn Tilton defended herself in a Delaware court on Wednesday against allegations that she had not disclosed the complex holdings of $2.5 billion distressed debt funds that she lost control of this year. However, after one of the three Zohar funds defaulted, Tilton's Patriarch Partners investment firm stepped down as the...

  • DOVER, Del., Aug 10- Embattled investor Lynn Tilton defended herself in a Delaware court on Wednesday against allegations that she had not disclosed the complex holdings of $2.5 billion distressed debt funds that she lost control of this year. However, after one of the three Zohar funds defaulted, Tilton's Patriarch Partners investment firm was removed as the...

  • Tesla first made an offer for SolarCity, which is backed by Tesla founder Elon Musk, on June 21 as part of Musk's ambitious plans for a carbon-free energy and transportation company. Net loss attributable to shareholders more than doubled to $55.5 million, or 56 cents per share, from $22.4 million, or 23 cents per share, as expenses jumped 51 percent.