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Credit Corporate Debt

  • WILMINGTON, Del., Oct 26- A Delaware judge on Wednesday ordered Lynn Tilton's Patriarch Partners to turn over documents detailing the complex holdings of $2.5 billion distressed debt funds that the embattled investor lost control of this year. However, one of the Zohar funds defaulted last year and Tilton's Patriarch Partners investment firm stepped down as...

  • WILMINGTON, Del., Oct 26- A Delaware judge on Wednesday ordered Lynn Tilton's Patriarch Partners to turn over documents detailing the complex holdings of $2.5 billion distressed debt funds that the embattled investor lost control of this year. However, one of the Zohar funds defaulted last year and Tilton's Patriarch Partners investment firm stepped down as...

  • Dire warning from top investor

    Tad Rivelle, TCW CIO for fixed income, discusses why he foresees the next recession due to the high levels of corporate debt.

  • BOSTON, Oct 25- Nick Graziano, a former top executive at hedge fund Corvex Management, has obtained early-stage financing from Constellation Seeding, putting his new hedge fund on track to start trading on Nov. 1, a person familiar with the matter said on Tuesday. Greenwich, Connecticut- based Venetus Partners LP plans to invest in mid-sized North American...

  • BOSTON, Oct 25- Nick Graziano, a former top executive at hedge fund Corvex Management, has obtained early-stage financing from Constellation Seeding, putting his new hedge fund on track to start trading on Nov. 1, a person familiar with the matter said on Tuesday. Greenwich, Connecticut- based Venetus Partners LP plans to invest in mid-sized North American...

  • SAO PAULO, Oct 24- Kroton Educacional SA, Brazil's largest education company by market value, has tapped an unnamed bank to design and broaden student loan alternatives to state program Fies, Chief Executive Officer Rodrigo Galindo said on Monday.

  • TOKYO, Oct 22- State-backed Japan Bank for International Cooperation will lend about 4 billion yen to Russia's Sberbank, which is subject to Western sanctions, in the hope of advancing talks on a territorial dispute, the Nikkei business daily said on Saturday. JBIC will issue the loan by the end of the year in a bid to encourage progress on a dispute over a string of...

  • MEXICO CITY, Oct 20- Mexico's Banregio Grupo Financiero is dwarfed by industry titans like Bancomer and Citibanamex but that seems to suit its small and medium-sized business clients just fine, allowing it to dominate what has been a growing market segment. Banregio, Mexico's largest lender to small and medium enterprises by portfolio size, reported a...

  • Provisions for bad loans fell 38.5 percent to $16 million in the quarter ended Sept. 30 and the company said it expects the number to remain low for the fourth quarter as well. Loans to the energy sector fell to $2.5 billion as of Sept. 30 from $2.7 billion as of June 30. The bank said net income attributable to common shareholders rose 10.4 percent to $148 million in...

  • BOSTON, Oct 18- Former Macquarie portfolio manager David Meneret has secured financial backing from Protege Partners for his new hedge fund, Mill Hill Capital, the fund and firm said on Tuesday. New York- based Mill Hill Capital, which will focus on investments in corporate and securitized assets including bonds and collateralized loan obligations, plans to...

  • FRANKFURT, Oct 18- Euro zone banks are set to tighten access to corporate credit for the first time in two and a half years as they become more wary of risk and negative interest rates eat into their profit, a European Central Bank survey showed on Tuesday. The ECB's ultra-easy policy- including bond purchases, free loans to banks and a charge on deposits- has fuelled a...

  • DUBAI/ KUWAIT, Oct 16- Kuwait National Petroleum Co expects to finalise a loan of well over $5 billion to finance its Clean Fuels project by the end of the first quarter of next year, sources involved in the project said. The Clean Fuels Project will upgrade and expand two of Kuwait's largest existing refineries with a focus on producing higher-value products such...

  • DUBAI/ KUWAIT, Oct 16- Kuwait National Petroleum Co expects to finalize a loan of well over $5 billion to finance its Clean Fuels project by the end of the first quarter of next year, sources involved in the project said. The Clean Fuels Project will upgrade and expand two of Kuwait's largest existing refineries with a focus on producing higher-value products such...

  • BEIJING, Oct 14- China's producer prices unexpectedly rose in September for the first time in nearly five years thanks to stronger commodity prices, welcome news for the government as it struggles to whittle down a growing mountain of corporate debt. The producer price index rose 0.1 percent in September from a year earlier, the National Bureau of Statistics...

  • China's debt load is worrying investors and observers.

    China’s economic transition has caused a problem for the government — how to avert a sharp slowdown while keeping a lid on debt.

  • Oct 13- Los Angeles- based company Hyperloop One, which is developing technology for a futuristic transit system, said it had raised an additional $50 million as it prepares for a full-scale test of a Hyperloop system in the first quarter of 2017.. The concept originated in a paper by Tesla Motors Inc Chief Executive Elon Musk in 2013, who envisioned it whisking...

  • BEIJING, Oct 12- China Construction Bank Corp will conduct a debt-to-equity swap with Yunnan Tin Group, the world's biggest tin producer and exporter, to cut debt and financing costs, the official Xinhua News Agency reported on Wednesday. Yunnan Tin agreement is the second debt-to-equity swap deal this week by CCB, which has also set up a 24 billion yuan...

  • BEIJING, Oct 12- China Construction Bank Corp will conduct a debt-to-equity swap with Yunnan Tin Group, the world's biggest tin producer and exporter, to cut debt and financing costs, the official Xinhua News Agency reported on Wednesday. Yunnan Tin agreement is the second debt-to-equity swap deal this week by CCB, which has also set up a 24 billion yuan...

  • SHANGHAI, Oct 12- The key to successful deleveraging of corporate debt is a clear line between the government and the marketplace, a commentary in the People's Daily, the official newspaper of the ruling Chinese Communist Party, said Wednesday. China's formal bankruptcy process remains largely untested, but the recent case of Guangxi Nonferrous Metals Group...

  • SHANGHAI, Oct 11- China stocks advanced to a one-month high on Tuesday as Beijing's plan to cut massive corporate debt triggered bets on mergers and restructuring among listed state-owned companies. "For such a plan to be successful, you need a vibrant equity market," said Yang Hai, analyst at Kaiyuan Securities. China's major listed shipbuilders, including CSSC...