Credit Corporate Debt

  • CFO Carrie Dolan is the first high-profile exit after the company's founder and CEO, Renauld Laplanche, was ousted in May following an internal review over loan irregularities.. For the third quarter, the company expects operating revenue to range between $95 million to $105 million, below analysts' current average estimate of $106.1 million, according to...

  • Reporting its first quarterly results since the ouster of the company's founder and CEO Renauld Laplanche in May, LendingClub said net loss widened to $81.4 million, or 21 cents per share, in the second quarter ended June 30, from $4.1 million, or 1 cent per share, a year earlier. Loan originations, a key metric indicating the volume of loans processed by the company,...

  • The dip in ag-tech financing follows 2015' s record-high $4.6 billion investment, according to Ag Funder. "It's an area we're keenly interested in," said Matt Bell, principal of Cultivian Sandbox Ventures, whose investments include Harvest Automation, a company that makes mobile robots for tree nurseries. Headon will spend C $250,000 retrofitting his tractor...

  • Aug 5- Regions Financial Corp said it had agreed with the U.S. Justice Department the amount to be paid to settle an investigation related to mortgage loans. Regions Financial said on Friday that the undisclosed amount would not have material impact on its results or cash flows as it had already set aside money for the settlement. The agreement resolves an...

  • SAN FRANCISCO, Aug 4- Solar Mosaic Inc, the top provider of loans for home solar installations in the U.S., said on Thursday it had raised $220 million in fresh funding to continue growing the rooftop solar loan market. Oakland, California- based Mosaic, founded in 2010, provides financing to homeowners to purchase rooftop solar systems, connecting them with solar...

  • TORONTO, Aug 4- Canadian miner Sherritt International Corp said on Thursday that lenders for a large Madagascar nickel mine, which it holds with partners, will defer six principal loan payments totaling $565 million until 2021.. Japan's Sumitomo Corp holds a 35 percent stake and Korea Resources Corp 27.5 percent. Sherritt Chief Executive David Pathe said in an...

  • Aug 4- India's upper house of parliament backed a major tax reform on Wednesday that seeks to transform the country into a common market, though opposition benches urged Finance Minister Arun Jaitley not to overtax businesses and consumers. *Economists project an increase of 0.4-0.8 percentage points in India's economic growth within three to five years of...

  • SQUARE ADDED FIVE NEW INVESTORS INTO BUSINESS LOAN PROGRAM, WHICH HAS 90 PERCENT RENEWAL RATE- SQUARE CFO.

  • LONDON, Aug 2- A company that provides banks with anti-money-laundering controls has teamed up with a bitcoin security firm to try to curb nefarious uses of the digital currency, such as drug trafficking and terrorism financing. LexisNexis, part of multinational analytics firm RELX Group, helps banks comply with AML regulation, using a database of 2.7 million...

  • Central bankers from the U.S., India and Malaysia pointed to debt as a key factor holding back the global economic recovery from the financial crisis.

  • BEIJING, July 29- More than ten financial institutions in China pressed the provincial government in Hebei this month to act swiftly to resolve a multi-billion dollar debt crisis that blew up early last year after a state-owned credit guarantee company became technically insolvent. Once China's second-biggest credit guarantor, Hebei Financing...

  • Engaged Capital, Outerwall's second-largest shareholder, had a 14.1 percent stake in the company as of June 2. LionTree Advisors, Bank of America Merrill Lynch, Barclays, Credit Suisse and Jefferies LLC are advising Apollo. Bank of America Merrill Lynch, Jefferies Finance LLC, Barclays and Credit Suisse are providing the financing for the deal.

  • SAN FRANCISCO, July 25- Texas- based StackPath has raised $150 million in fresh funding from private equity firm ABRY Partners, the CEO of the cyber security startup said on Monday, in what is among the largest single financing rounds for a private cyber security firm. Chief Executive Officer Lance Crosby told Reuters StackPath is a security platform that houses...

  • July 21- Amazon.com Inc is entering the student loan business in a partnership with Wells Fargo& Co, offering cheaper rates for loans to Amazon customers who pay for a "Prime Student" subscription. That's what they want out of this deal, " John Rasmussen, head of Wells Fargo's Personal Lending Group, said in an interview. Wells Fargo charges between 3.39 percent and...

  • July 21- Amazon.com Inc is entering the student loan business in a partnership with Wells Fargo& Co, the companies announced Thursday. That's what they want out of this deal, " John Rasmussen, head of Wells Fargo's Personal Lending Group, said in an interview. Wells Fargo charges between 3.39 percent and 9.03 percent for a variable-rate student loan, and from 5.94...

  • HONG KONG, July 21- Chinese companies will consume nearly two-thirds of new credit raised globally by 2020 as the world's second-largest economy leans on the corporate sector to support growth, said a report from S&P Global published on Thursday. The report highlighted China's opaque and ever-expanding corporate sector and rapidly rising U.S. leveraged...

  • China Corp Debt

    Dagong Chairman Guan Jianzhong recommends that Beijing sets up a transparent credit rating system to guide the economy towards sustainable debt.

  • Global Debt Demand

    S&P Global Ratings' Terry Chan says there are growing concerns about high-yield corporate debt in China and leveraged finance in the U.S.

  • July 20- Credit card issuer American Express Co reported a 37 percent rise in quarterly profit, driven by higher spending by its customers and lower expenses due to a sale of its loan portfolio. Net income attributable to common shareholders rose to $2.02 billion, or $2.10 per share, for the second quarter ended June 30 from $1.47 billion, or $1.42 per share, a year...

  • Business debt is projected to hit $75-trillion by 2020, according to S&P Global Ratings.