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Credit Corporate Debt

  • The company said it signed an agreement with certain bondholders that includes a $19.25 million equity investment, with some debtors backing a $255.75 million rights offering. Vanguard also said it had obtained a $50 million debtor-in-possession financing facility, underwritten by Citibank NA, JPMorgan Securities LLC and Wells Fargo Bank NA.

  • *Q3 net profit 24.42 bln rupees vs 21.7 bln rupees estimate. MUMBAI, Jan 31- ICICI Bank Ltd, India's No.2 lender by assets, said its third-quarter net profit fell 19 percent as bad loans rose, although the profit decline was smaller than expected. Net profit fell to 24.42 billion rupees for the three months to Dec. 31, from 30.18 billion rupees reported a year earlier, the...

  • MUMBAI, Jan 31- ICICI Bank Ltd, India's No.2 lender by assets, said its third-quarter net profit fell 19 percent as bad loans rose, although the profit decline was smaller than expected. Net profit fell to 24.42 billion rupees for the three months to Dec. 31, from 30.18 billion rupees reported a year earlier, the Mumbai- based lender said on Tuesday.

  • By Francesco Guarascio and Huw Jones. LUXEMBOURG/ LONDON, Jan 30- The European Union should create a publicly-funded asset management company to scoop up some of a trillion euro mountain of bad loans that has become a brake on economic growth, the bloc's banking watchdog said on Monday. In a speech in Luxembourg on Monday, EBA Chairman Andrea Enria sketched out how...

  • LUXEMBOURG/ LONDON, Jan 30- The European Union should create an asset management company to scoop up some of a trillion euro mountain of bad loans that has become a brake on economic growth, the bloc's banking watchdog said on Monday. Italian banks account for 276 billion euros of the bloc's bad loans, by far the largest of any EU banking sector, but 10 EU states have an...

  • LONDON, Jan 30- The European Union should create an asset management company to scoop up a trillion euro mountain of bad loans that has become a brake on economic growth, the bloc's banking watchdog said on Monday. Italian banks account for 276 billion euros of the bloc's bad loans, by far the largest of any EU banking sector, but 10 EU states have an average bad loan...

  • SAN FRANCISCO, Jan 29- Silicon Valley took the lead over the weekend in corporate resistance to President Donald Trump's clampdown on immigration, financing legal opposition, criticizing the plan, as well as helping employees ensnared by his executive order. Several Silicon Valley executives donated to legal efforts to support immigrants facing the ban.

  • MEXICO CITY, Jan 26- Mexico's Grupo Financiero Banorte, the country's fourth-largest bank by assets, on Thursday reported a 6 percent rise in fourth-quarter profit, boosted by strong performance in its consumer and corporate loan portfolios. Banorte, the largest Mexican-owned bank in the country, said profit rose to 5.244 billion pesos during the...

  • LONDON, Jan 23- Japanese financial services firm Orix Corp said it was looking to buy more shipping loans in Europe after confirming on Monday that it would purchase $289 million worth of such debt from Royal Bank of Scotland in a landmark deal. Orix said it had agreed to acquire the loans from RBS, confirming a Reuters story on Friday, in what is likely to be the first...

  • FRANKFURT, Jan 23- A little-known Austrian software company is looking to snatch business from established players HP Enterprise and IBM in the market for software testing tools, after raising $165 million from a U.S. private equity firm. On Monday, the company said it will receive $165 million in financing from Insight Venture Partners, a software-focused...

  • China’s stimulus programs have boosted economic growth, but they’re also creating stability risks, Fitch said in a report on Monday.

  • "Split" doubled Vin Diesel's launch of "xXx: Return of Xander Cage," which is heading for a second-place finish for Paramount with $20 million at 3,651 sites-- in line with recent forecasts. Michael Keaton's biopic "The Founder" showed little traction for the Weinstein Company with a modest $3.8 million weekend at 1,115 locations. Shyamalan is self-financing the...

  • NEW YORK, Jan 20- Merger activity among independent wealth management firms in the United States hit an all-time high in 2016 as more of the industry's aging workforce retired, the economy strengthened and more advisers were able to obtain financing for acquisitions, according to new study. The report, published this week by the industry consultant firm...

  • NEW YORK, Jan 20- A U.S. bankruptcy court judge granted Avaya Inc approval on Friday to tap $425 million of the $725 million loan proposed to carry the telecommunications company through its restructuring, funds the company said were essential to continue operations. "The company has taken a decisive step to rightsize its balance sheet," Pat Nash, one of the...

  • LIMA, Jan 20- A consortium controlled by Brazilian builder Odebrecht S.A. will miss a financing deadline on Monday for a natural gas pipeline project in Peru and awaits government notification that it will lose the $5 billion contract, the company said on Friday. Odebrecht, a family-owned conglomerate at the center of a growing bribery scandal in Latin America,...

  • LONDON/ TOKYO, Jan 20- Royal Bank of Scotland has concluded agreements to sell at least $600 million worth of shipping loans from its portfolio as part of efforts to exit the sector, sources with direct knowledge of the deal told Reuters on Friday. The sources said Japanese financial services firm Orix Corp has agreed to buy $290 million worth of shipping loans...

  • WASHINGTON, Jan 18- The largest U.S. student loan servicer, Navient Corp, cheated borrowers out of billions of dollars, often by deceiving them about repayment options and their legal rights, the U.S. consumer financial watchdog said on Wednesday as it announced a lawsuit against the company. The U.S. Consumer Financial Protection Bureau accused Navient, which...

  • WASHINGTON, Jan 18- The largest U.S. student loan servicer, Navient Corp., cheated borrowers out of billions of dollars, often by deceiving them about repayment options and their legal rights, the U.S. consumer financial watchdog said on Wednesday as it announced a lawsuit against the company. The U.S. Consumer Financial Protection Bureau accused Navient, which...

  • WASHINGTON, Jan 18- U.S. regulators sued Navient Corp on Wednesday, accusing the largest U.S. student loan servicer of "systematically and illegally failing borrowers at every stage of repayment." The Consumer Financial Protection Bureau said Navient, which was formerly part of Sallie Mae, provided its student borrowers with bad information, processed...

  • WASHINGTON, Jan 18- U.S. Consumer Financial Protection Bureau has sued student loan servicer Navient Corp for what it alleged was "systematically and illegally failing borrowers at every stage of repayment," the agency said on Wednesday.