Credit Corporate Debt

  • Oct 3- Fishing and hunting equipment chain Cabela's Inc said it agreed to be bought by rival Bass Pro Shops in a deal valued at $5.5 billion that will help the privately held company nearly double its store count in North America. Bass Pro Shops will finance the deal through preferred equity financing commitments of $2.4 billion from Goldman Sachs and Pamplona...

  • Sept 29- Wells Fargo& Co is facing a U.S. Department of Justice sanction for improperly repossessing cars owned by members of the military, Bloomberg reported. Federal prosecutors and the Office of the Comptroller of the Currency plan to punish Wells Fargo for alleged violations of the Servicemembers Civil Relief Act, Bloomberg reported, citing two people with...

  • CARACAS, Sept 23- Venezuela's state oil company Petróleos de Venezuela said on Friday oil service companies that won $3.2 billion in contracts to drill wells in the crude-rich Orinoco Belt would supply $700 million in financing for the projects. Horizontal Well Drillers has a 48- month credit line from Canada's Callidus Capital for $350 million to finance...

  • SEOUL, Sept 23- South Korea said cash withheld by Hanjin Shipping Co Ltd and support from its parent group should roughly meet funding needed for unloading cargo from vessels operated by the troubled container line. In a statement prepared for a briefing on the collapse of the nation's biggest container mover, the government said the 60 billion won loan pledged...

  • *13 ships waiting outside Busan port as capacity strained. SEOUL, Sept 21- The largest shareholder of Hanjin Shipping Ltd agreed on Wednesday to lend 60 billion won to help unload cargo that has been stranded since the world's seventh-largest container carrier collapsed late last month. A rehabilitation plan for Hanjin is "realistically impossible" if top...

  • SEOUL, Sept 21- The board of Korean Air Lines, the largest shareholder of collapsed Hanjin Shipping Co Ltd, has approved lending 60 billion won to the container carrier, using Hanjin's accounts receivable as collateral, a spokesman for the airline said on Wednesday. The spokesman said the funds would be used to help to offload cargo that has been stranded on Hanjin...

  • Sept 20- Baltimore's city council gave final approval for a $660 million public financing package to help fund a $5.5 billion project for Under Armour Inc Chief Executive Kevin Plank's real estate company, a council spokesman said on Tuesday. Plank's company, Sagamore Development, has called Port Covington one of the biggest urban renewal projects in the...

  • SHANGHAI, Sept 20- China's state-owned metals trader Sinosteel will be permitted to swap 27 billion yuan of debt into equity convertible bonds, the online financial magazine Caixin reported on Tuesday citing anonymous sources. At about 145 percent of GDP, corporate debt "is high by any measure", China IMF Mission Chief for China James Daniel said in the fund's...

  • Sept 19- Accessories retailer Claire's Stores Inc, owned by Apollo Global Management LLC, said it was in advanced talks with a lender to allow its debt exchange program to proceed and release much-needed cash. The retailer said the lender related to its Europe credit facility waived declaring a default related to its fixed charge cover ratio covenant,...

  • LIMA, Sept 19- Peru is in talks with BlackRock Inc, the world's largest asset manager, about obtaining infrastructure financing, President Pedro Pablo Kuczynski said Monday after meeting with the company's chief executive officer Larry Fink. "They're interested in doing financing in Peru on infrastructure, and I'm in talks with them about that."

  • LIMA, Sept 19- Peru is in talks with BlackRock Inc, the world's largest asset manager, about obtaining infrastructure financing, President Pedro Pablo Kuczynski said Monday after meeting with the company's chief executive officer Larry Fink. "They're interested in doing financing in Peru on infrastructure, and I'm in talks with them about that."

  • TOKYO, Sept 16- The benefits of the Bank of Japan's negative interest rate policy are "very big" because it is encouraging corporate debt issuance and lowering mortgage rates, an adviser to Prime Minister Shinzo Abe said on Friday. The policy has weighed on bank earnings in the short term, but it should be a benefit in the long term because negative rates can lead to...

  • NEW YORK, Sept 13- Long-dated Treasury yields rose to their highest levels in around three months on Tuesday on heavy Treasury and corporate debt supply and on concerns about global central bank policy. The Treasury Department saw weak demand for a $12 billion sale of 30- year bonds, the final sale of $56 billion this week in coupon-bearing supply.

  • SHANGHAI, Sept 7- Dongbei Special Steel Group Co Ltd, the steelmaker whose default in March helped spark a sharp correction in Chinese onshore corporate debt, said it is unable to make a timely payment on another bond. The firm, owned by the Liaoning provincial government, has already defaulted on multiple bonds in 2016. In July, Investors holding around 2.2 billion...

  • Interns from around the city protest near the Senate steps to urge the Senate to act on a House passed bill, Smarter Solutions for Students Act, which would prevent student loan interest rates from doubling.

    Wells Fargo and Amazon said they had ended a partnership to offer discounted student loans to the online retailer's "Prime Student" customers.

  • Aug 31- Wells Fargo& Co and Amazon.com Inc said they had ended a partnership to offer discounted student loans to the online retailer's "Prime Student" customers, about six weeks after announcing the deal. Amazon spokeswoman Deborah Bass also confirmed the termination of the partnership. Bloomberg first reported earlier in the day that Wells Fargo and Amazon...

  • 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.