GO
Loading...

Restructurings

More

  • *Apollo deal could be debt for equity swap. LONDON, April 16- Steel trading firm Stemcor, one of the UK's largest private companies, could be taken over by U.S. distressed investment fund Apollo, as part of a $2 billion debt restructuring, according to banking and industry sources. A deal with Apollo would be a classic debt for equity swap, in which Apollo would write off...

  • TOKYO, April 16- Japan's Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discussions said. As part of its second major bailout in three years, Sharp's lenders, Mizuho Bank and Bank of...

  • TOKYO, April 16- Japan's Sharp Corp and its main banks are to meet on Thursday to agree on a $1.7 billion rescue and restructuring plan for the loss-making electronics maker, a person involved in the discussions said. An agreement between the Osaka- based company and its main lenders, Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, would be Sharp's second big bailout...

  • NEW YORK, April 15- Creditors of Puerto Rico's troubled power authority, PREPA, will give the utility another 15 days leeway under an agreement aimed at staving off a messy default, PREPA confirmed in a statement on Wednesday. Creditors accepted that proposal, PREPA said, as the sides debate how to restructure PREPA's $9 billion in debt. Earlier PREPA said the...

  • NEW YORK, April 15- Creditors of Puerto Rico's troubled power authority, PREPA, are planning to give the utility another 15 days leeway under an agreement aimed at staving off a messy default, sources familiar with the creditors' thinking said on Wednesday. Creditors plan to accept that proposal as sides debate how to restructure PREPA's $9 billion in debt, said...

  • MOSCOW, April 15- Russia's top lender, Sberbank, plans to file a bankruptcy lawsuit against Mechel after talks on restructuring the steel producer's debt failed, RIA news agency quoted Sberbank's head, German Gref, as saying on Wednesday.

  • NEW YORK, April 14- Negotiations between Puerto Rico's troubled electric power authority and a group of its creditors turned into a testy public exchange on Tuesday as an agreement to prevent a possible messy default by Wednesday's deadline proved illusive. The public dispute, highly unusual in restructuring negotiations that are normally conducted...

  • The company runs 110 schools in 32 states and Canada for chefs, artists and other trades, including The Art Institutes, Argosy University, Brown Mackie College and South University. The company lost $684 million last year and could face penalties from the federal government based on the alleged recruiting violations as well as a class-action suit by investors...

  • NEW YORK, April 14- A $2 billion bondholder plan to restructure Puerto Rico's troubled power authority contains aggressive elements that are unlikely to work, the utility's chief restructuring officer said in testimony before Puerto Rico's Senate on Tuesday. Lisa Donahue said demands that creditors be paid in full and on time would be unlikely to work as a...

  • CALGARY, Alberta, April 9- Canadian oil and gas producer Calvalley Petroleum Inc said on Thursday it will liquidate and restructure due to the political crisis in Yemen, where it has almost all of its operations. Saudi Arabia and Arab allies have launched air strikes against the Iran- allied Houthi movement in Yemen, which has taken most of the country and forced...

  • LONDON, April 9- Three years after facing off over Greece's debt workout, the two giants of debt restructuring- Lazard and Blackstone- are again preparing to do battle, one for Ukraine and the latter on behalf of its creditors. Another prominent player is Franklin Templeton, one of the world's biggest asset managers, whose star investor, Michael Hasenstab, has...

  • WASHINGTON, April 7- The International Monetary Fund will assess Ukraine's progress in its talks with creditors but does not have to make any decisions in June, when its next review of the country's $17.5 billion bailout is due, the Fund's No. 2 official said on Tuesday. Ukraine's officials have set themselves a June deadline to complete debt restructuring...

  • WASHINGTON, April 7- The International Monetary Fund will assess how much progress Ukraine has made in its talks with creditors, but does not have to make any decisions in June, the Fund's No. 2 official said on Tuesday. Ukraine's officials have set themselves a June deadline, by the time of the next IMF review, to complete debt restructuring that is needed to plug a...

  • MOSCOW, April 7- The head of Russia's top lender Sberbank, German Gref, said on Tuesday the bank was not willing to restructure a loan to aluminum producer Rusal. There has been no proposal that is acceptable to us, "Gref told reporters. Rusal, the world's largest aluminum producer, has long hoped to reach agreement with lenders to revise the terms of its multi-billion...

  • Argentina's securities regulator says Citibank Argentina violated local laws by striking a deal with the hedge funds. Argentina on Monday appealed a U.S. federal court order that it said "erroneously modified and extended" a ruling preventing payment on its restructured bonds under Argentine law. The case stems from a decade-long legal feud between...

  • April 2- U.S. insurer Genworth Financial Inc is seeking buyers for a life and annuity unit, Bloomberg reported, citing people familiar with the matter. Genworth has been carrying out a restructuring plan after reporting losses of more than $1.5 billion in the past two quarters due to hefty charges to cover losses in its long-term care business.

  • NEW YORK, April 1- General Electric would commit to financing a new natural gas plant in Puerto Rico under a debt restructuring plan proposed by creditors of the island's struggling power utility, according to plan documents obtained by Reuters. Reuters reported on Saturday that an ad hoc group of PREPA creditors, including OppenheimerFunds and Franklin...

  • HONG KONG, March 31- Troubled Chinese property developer Kaisa Group Holdings said it would not report its 2014 results as scheduled on Tuesday as it needed more time to assess its cash flow. Larger peer Sunac China Holdings, which has proposed a takeover, urged the bondholders to accept Kaisa's debt restructuring plan or risk the company running out of cash by...

  • NEW YORK, March 26- Wireless venture LightSquared on Thursday concluded three years of litigation with creditors, securing U.S. Bankruptcy Court approval of a plan to end its Chapter 11 case and repay in full its largest creditor, Dish Network Corp Chairman Charles Ergen. Under the plan greenlighted by Judge Shelley Chapman in U.S. Bankruptcy Court in New York,...

  • WASHINGTON, March 26- Russia's $3 billion holding of Ukrainian debt should be classified as' official' debt, an IMF spokesman said on Thursday, weighing in on what has become a contentious issue in Kiev's economic situation. But Russia, which holds a $3 billion Eurobond from Ukraine, has so far refused to participate in the restructuring. Russia, which Western...