Credit Corporate Debt

  • PRAGUE, June 3- Komercni Banka is looking to increase market share in consumer finance and small-business lending in a search for yield in a low interest rate environment while keeping deposit growth in check, its chief financial officer said. Near-zero interest rates are helping the Czech Republic's economy to expand, but this also means banks have to...

  • June 2- German drugs and crop chemicals group Bayer AG, which has made a $62 billion bid for U.S. seeds company Monsanto Co, has added more banks to its acquisition financing package, according to a person familiar with the matter. The loan facility totals 60 billion euros, and can be expanded up to 75 billion euros, the source added. "As a matter of principle, we do not...

  • June 2- German drugs and crop chemicals group Bayer AG, which has made a $62 billion bid for U.S. seeds company Monsanto Co, has secured a 60 billion euros loan facility that can be expanded up to 75 billion euros, Handelsblatt daily reported on Thursday. Bayer AG secured the bridge loan on Wednesday from Bank of America Merrill Lynch, Credit Suisse, HSBC, Goldman Sachs...

  • June 2- German drugs and crop chemicals group Bayer AG has secured a loan facility of 60 billion euros to fund its $62 billion offer for U.S. seeds company Monsanto Co, Handelsblatt daily reported on Thursday. Bayer AG secured the bridge loan on Wednesday from Bank of America Merrill Lynch, Credit Suisse, HSBC, Goldman Sachs and JP Morgan, the German newspaper...

  • CARACAS, June 1- Venezuelan brewer and food producer Empresas Polar said on Wednesday it will resume beer production in July after halting operations in April for lack of malted barley amid chronic shortages in the cash-strapped OPEC nation. The company, a frequent target of criticism by President Nicolas Maduro, said it had obtained a $35 million loan from...

  • WASHINGTON, June 1- Souring loans to energy companies drove down the net income of U.S. banks for the first time in two years in the first quarter, with a 2 percent decrease from a year earlier to $39.1 billion, the head of the Federal Deposit Insurance Corporation said on Wednesday. "Low energy prices have led to a sharp increase in non-current loans to oil and gas...

  • WASHINGTON, June 1- Net income at U.S. banks declined 2.0 percent in the first quarter of 2016 from a year earlier, the first year-on-year drop since 2014, almost exclusively due to souring energy loans at large institutions, the head of the Federal Deposit Insurance Corporation said on Wednesday. "Low energy prices have led to a sharp increase in non-current...

  • LONDON, June 1- Britain's financial markets regulator has fined CT Capital, a UK parent company for a group of lenders and loan brokers, 2.4 million pounds for "serious failings" in handling complaints about Payment Protection Insurance. The Financial Conduct Authority said on Wednesday that customers missed out on compensation they were entitled to after CT...

  • SYDNEY, June 1- National Australia Bank plans to tap surging demand for corporate credit by becoming the first major bank in Australia to offer small companies unsecured loans online. The move comes as NAB and rivals Commonwealth Bank, Westpac and ANZ Banking battle to offset a slowdown in home loans, which have typically been a core part of their businesses.

  • *Mozambique to pay out of gas revenues. TEMANE, Mozambique, May 30- Mozambique's debt crisis and lower oil prices will not affect Sasol's $1.4 billion gas project because costs will be covered by the South African energy company and recouped through gas revenues, the company said on Monday. Mozambique missed a loan repayment deadline this month, plunging one of...

  • *Yusuf Alireza moving on after transformation- company. SINGAPORE, May 30- Noble Group's CEO Yusuf Alireza quit on Monday, a surprise move that comes just weeks after he secured crucial financing for Asia's biggest commodity trader and raises questions about its future strategy. The embattled company named its president William Randall, and Jeff Frase, global...

  • DUBAI, May 26- Long used to lucrative state contracts, Iran's biggest construction company faces leaner times, as overseas firms better able to attract financing push for orders in an economy trying to open to the world after years of sanctions. The misfortunes of Khatam al Anbia Construction Headquarters are an unwelcome novelty for its powerful owners, the...

  • NEW YORK, May 25- Investment fund Blue Elephant Capital Management plans to start buying loans again from online lender Prosper Marketplace Inc after taking a pause for several months, an executive said on Wednesday. The marketplace lending sector has been struggling lately, in part because of the scandal surrounding the resignation of Lending Club Corp's...

  • FRANKFURT, May 25- Bayer could receive financing from the European Central Bank that would help to fund a takeover of Monsanto, according to the terms of the ECB's bond-buying programme. U.S.-based Monsanto, the world's largest seed company, turned down Bayer's $62 billion bid on Tuesday, but said it was open to further negotiations. The ECB is buying 80 billion...

  • WASHINGTON, May 25- The U.S. Comptroller of the Currency fined Wells Fargo Bank $70 million on Wednesday over mortgage servicing but said it was ending business restrictions it had placed on the bank. According to the regulator, Wells Fargo made escrow calculation errors between March 2013 and October 2014 that in some cases led to incorrect loan modification...

  • NAIROBI, May 25- Kenya's Uchumi Supermarkets has attracted "many suitors" in its search for a major new investor and its board is evaluating bids from both local and foreign parties, its chief executive said on Wednesday. The company, which is the only publicly traded retailer in Kenya, is also selling assets to pay down debts and is seeking an emergency loan from the...

  • *More cautious on risky regions including Iran. FRANKFURT, May 25- Deutsche Bank expects to see strong growth in Asia for its global payments and trade financing business in the coming years, despite recent signs of emerging market cooling, the head of its Global Transaction Banking unit said. "Within the transaction bank, the share of revenue coming from Asia...

  • May 24- Wells Fargo& Co lowered two key financial targets on Tuesday and said it is sharply cutting exposure to troubled energy loans, signaling that tough times for bank profits may continue through the rest of the year. Low interest rates, higher capital requirements and increasing credit costs are weighing on Wells Fargo's results, prodding the San Francisco-...

  • MAPUTO, May 23- Mozambique was heading for default on Monday after the government failed to honour a sovereign guarantee behind a $535 million loan taken out by a state-run company to build shipyards that have not yet materialised, a finance ministry source said. Foreign creditors behind the loan, organised by Russia's VTB Bank, had rejected the war-scarred...

  • US companies now sinking in debt

    A new study shows corporate America is accumulating debt at a much faster pace, despite almost $2-trillion in cash.