Corporate Debt
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LITTLE ROCK, Ark.-- The Arkansas House delayed a vote on a proposal to provide a company with $125 million in state financing to help build a new steel mill in northeastern Arkansas. The legislation would authorize Arkansas to issue bonds to provide a loan and pay some of the construction costs of the $1.1 billion steel mill.
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NEW YORK-- Southwest Airlines Co. said Thursday that it obtained a $1 billion, 5- year revolving credit arrangement this week. Southwest said that rates will be based on either the London interbank offered rate, known as Libor; or the highest of the prime rate, the 1- month Libor plus 1 percent, or the federal funds effective rate plus 0.5 percent.
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LITTLE ROCK, Ark.-- The Arkansas House is set to vote on a proposal to provide a company with $125 million in state financing to help build a new steel mill in northeastern Arkansas. Monte Hodges of Blytheville sponsored the bill and says he'll present it before the full House on Thursday.
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HOUSTON-- Crest Financial Ltd., the largest minority shareholder of Clearwire Corp., is offering the wireless operator $240 million in debt financing, which would free it up to consider options beyond a takeover offer from Sprint Nextel Corp..
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NEW YORK-- Shares of Tesla Motors Inc. fell Wednesday after the electric car maker's announcement of a new financing option similar to a vehicle lease failed to impress investors.
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SAN FRANCISCO, April 3- EBay Inc's payments business, PayPal, already lends money to online shoppers, but it is now starting to finance the merchants who sell on the company's online marketplaces. PayPal has already tested a financing program for eBay sellers in the UK and it plans similar tests in the United States this year, a company spokesman said on Tuesday.
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*Amazon launched merchant lending business last year. SAN FRANCISCO, April 3- EBay Inc's payments business, PayPal, already lends money to online shoppers, but it is now starting to finance the merchants who sell on the company's online marketplaces.
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LOS ANGELES, April 2- Tesla Motors Inc on Tuesday said it was partnering with Wells Fargo& Co and U.S. Bank on a financing product that it says will make its pricey electric sedan accessible to more people. The vehicle's price starts at $62,400 after a $7,500 federal tax credit.
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DETROIT-- Electric car maker Tesla Motors Inc. says it has joined with two banks to finance a 10 percent down payment on its new Model S sedan. US Bank and Wells Fargo will make loans for the down payment, which eventually would be covered by a $7,500 federal tax credit for electric car buyers.
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OKLAHOMA CITY-- Continental Resources Inc. said Tuesday that it plans to sell $1 billion of new senior notes in a private offering. The Oklahoma City- based oil and gas producer said it plans to use the net proceeds from the offering to repay some of the debt under its revolving credit facility and for general corporate purposes.
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How do you make money in these markets? Here is what some of the experts on CNBC have been telling us this morning.
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Dan Scott, head of event driven research at Credit Suisse, outlines why he prefers short-term corporate debt and equities that are exposed to the U.S or emerging markets, over government bonds and cash.
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DETROIT/ NEW YORK, March 28- Fisker Automotive, the green-car company that has not built a car since July, hired restructuring lawyers from Kirkland& Ellis to prepare for a possible bankruptcy filing, The Wall Street Journal reported on Thursday, citing people familiar with the matter. On April 22, Fisker must make a payment on a U.S. Department of Energy loan.
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March 28- Wireless service provider Clearwire Corp said on Wednesday that it would draw on $80 million in financing from Sprint Nextel Corp, which is seeking to buy it. Clearwire said it would still continue talks with rival bidder Dish Network Corp but it has not changed its recommendation in favor of the Sprint deal.
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VALLEY FORGE, Pa.-- Pharmaceutical wholesaler AmerisourceBergen Corp. said Thursday that it reached a deal to sell its money-losing Canadian pharmaceutical distribution business and boosted its profit guidance for the year. The sale price is estimated at between $80 million and $100 million, of which about half will be financed by AmerisourceBergen.
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Clearwire has received buyout offers from both Sprint and satellite TV provider Dish Network Corp. In December it agreed to a deal with Sprint Nextel Corp. that offered $2.2 billion for the 49 percent of Clearwire that Sprint doesn't already own.
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March 27- Align Technology Inc:. *On March 22, co entered into a credit agreement that provides for $50 million. revolving credit facility- SEC filing.
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March 27- Stewardship Financial Corp:. *Q4 loss per share $0.07. *Qtrly provision for loan losses $3.3 million.
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*Scars of property crash, corporate debt overhang remain. *Demographics, regulation still favour Dubai. DUBAI, March 27- Four kilometres off the coast of Dubai, more than 200 tiny, man-made islands bake under the sun.
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*Scars of property crash, corporate debt overhang remain. *Demographics, regulation still favour Dubai. DUBAI, March 27- Four kilometres off the coast of Dubai, more than 200 tiny, man-made islands bake under the sun.