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Credit Corporate Debt

  • SHANGHAI, Oct 11- China stocks rose to a one-month high on Tuesday after Beijing unveiled guideliness to cut massive corporate debt, potentially leading to consolidation among some state-owned companies and drawing more investor interest into equities. But Hong Kong shares fell over 1 percent, after trading resumed following Monday's holiday, as some...

  • DAKAR, Oct 10- Mining giant Rio Tinto said on Monday that the International Finance Corporation, a partner in its $20 billion Simandou iron ore project in Guinea, is selling its 4.6 percent stake. Rio has a 46.6 percent stake in the project; China's Chinalco has 41.3 percent and the Guinea government has 7.5 percent. The West African country is counting on the...

  • BEIJING, Oct 10- China must take action to reduce corporate debt levels, with an aim to stabilizing them in the near- and medium-term, the country's state planner said on Monday. Corporate China sits on $18 trillion in debt, equivalent to about 169 percent of GDP, and international institutions have recently warned Beijing to stop financing weak firms, especially...

  • BEIJING, Oct 10- China must take action to reduce corporate debt levels, with an aim to stabilizing them in the near- and medium-term, the country's state planner said on Monday. Corporate China sits on $18 trillion in debt, equivalent to about 169 percent of GDP, and international institutions have recently warned Beijing to stop financing weak firms, especially...

  • BEIJING, Oct 10- China must take action to reduce corporate debt levels, China's state planner said in a document released during a news briefing in Beijing on Monday. China will allow firms to develop equity financing and conduct market-oriented debt-to-equity swap process in an orderly way, the document said. In an effort to reduce corporate costs, China will...

  • *IMF official reports progress on Egypt loan. *Qalaa Holdings plunges on wider quarterly loss. DUBAI, Oct 9- Banking shares dragged Saudi Arabian stocks lower on Sunday while most other Gulf markets were sluggish as investors waited for third-quarter corporate earnings announcements.

  • CARACAS, Oct 7- Spain's Repsol is providing a credit line of up to $1.2 billion to boost oil output at a joint venture it runs with Venezuelan state oil company PDVSA, the companies announced on Friday. "Today we've achieved, after very long conversations, a financing deal that will allow us to double production," said PDVSA President Eulogio Del Pino after a signing...

  • *Investors wary of regulatory uncertainty in Israel. TEL AVIV, Oct 5- They once pulled the strings of Israel's economy, but now the country's most influential tycoons are reeling under a popular backlash against corporate power and selling assets in a regulatory squeeze. About a decade ago, as Israel's corporate debt market was just getting started, there was...

  • *Investors wary of regulatory uncertainty in Israel. TEL AVIV, Oct 5- They once pulled the strings of Israel's economy, but now the country's most influential tycoons are reeling under a popular backlash against corporate power and selling assets in a regulatory squeeze. About a decade ago, as Israel's corporate debt market was just getting started, there was...

  • 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."