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Corporate Debt

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  • *Margin financing in China has soared in past year. BEIJING/ SHANGHAI, June 12- China's securities regulator, seeking to contain risks in the country's highly-leveraged stock market, on Friday released draft rules that cap a brokerage's margin trading and short selling business at four times its net capital. Margin financing- money investors borrow from...

  • INSIGHT-Automated lenders threaten to eat banks' lunch Thursday, 11 Jun 2015 | 1:00 AM ET

    NEW YORK, June 11- When Kevin Pereira needed a loan last year for his shaving gear business, his bank, Wells Fargo, considered his application and turned him down. Kabbage, Lending Club and On Deck are among the lenders making small business and consumer loans that more established banks are less eager to approve. Non-traditional lenders could siphon away as much as...

  • SHANGHAI/ TIANJIN/ SINGAPORE, June 10- A subsidiary of China's Tianjin port said some iron ore stored in a private warehouse had been illegally released by an undisclosed agent and trading firm. Oversight of China's ports has been under scrutiny since a scandal last year at Qingdao port involving commodity financing where a private trading firm is alleged to...

  • Risk of mispayment in June for Greece: Pro Tuesday, 9 Jun 2015 | 10:47 AM ET
    Risk of mispayment in June for Greece: Pro

    James McCormack, Fitch global head of sovereign ratings, weighs in on Greece's new reform plan.

  • SAO PAULO, June 5- A Brazilian court is expected to approve a debtor-in-possession loan to engineering firm OAS SA, which has filed for bankruptcy protection, as early as next week, two sources with knowledge of the deal said on Friday. The judge overseeing the bankruptcy process could free up the so-called DIP loan of 800 million reais after court-appointed...

  • Ex-Im in 2012 authorized a $280 million loan for Australian firm NewSat's purchase of a satellite from U.S.-based aerospace group Lockheed Martin. NewSat earlier this year was placed in administration. Hochberg said Ex-Im's involvement was secured by NewSat, which still had control of the satellite, and it was in negotiations to find an alternate buyer.

  • Ex-Im in 2012 authorized a $280 million loan for Australian firm NewSat's purchase of a satellite from U.S.-based aerospace group Lockheed Martin. NewSat earlier this year was placed in administration. Hochberg said Ex-Im's involvement was secured by NewSat, which still had control of the satellite, and it was in negotiations to find an alternate buyer.

  • *Citi failed to win $270 mln court order vs Mercuria. LONDON, June 3- U.S. bank Citigroup Inc said it currently has no metals financing clients in China after suspected fraud led to a web of lawsuits, and was reviewing the future of the business. Last month, Citigroup failed in a bid to win an order from a London court that would force trade house Mercuria to pay about $270...

  • *Citi failed to win $270 mln court order vs Mercuria. LONDON, June 3- U.S. bank Citigroup Inc said it has withdrawn from metals financing in China after suspected fraud that led to a web of lawsuits. Last month, Citigroup failed in a bid to win an order from a London court that would force trade house Mercuria to pay about $270 million in potential losses for metals...

  • Molycorp has a 30- day grace period to make the payment, after which it would be considered in default, the company said on Monday. Molycorp, which posted its thirteenth consecutive quarterly loss last month, had warned its annual report in March that it might not have enough money to stay afloat if its debt restructuring efforts failed. Missing the loan repayment...

  • MOSCOW, June 1- Russian potash producer Uralkali has agreed to increase its recently signed loan facility by $100 million to $630 million, the company said on Monday. The agreement, signed with Bank of China, also offers an option to increase the amount by an additional $170 million to $800 million, the company added. Its initial loan agreement was signed with eight...

  • SHANGHAI, June 1- The brokerage unit of Chinese financial firm Shenwan Hongyuan Group Co Ltd will stop lending money to clients to buy shares in Ping An Insurance Group, the latest move in China's drive to tighten margin financing rules to curb stock market risks fueled by a record amount of borrowed money. In a statement posted on its website after Friday's...

  • May 29- Bank of America Corp agreed with U.S. regulators to improve its compliance practices and pay a fine for violations in lending rules toward military personnel. The Office of the Comptroller of the Currency asked the No. 2 U.S. bank by assets to pay a penalty of $30 million due to non-home loan compliance with the Servicemembers Civil Relief Act and unsafe...

  • HANGZHOU, China/ BEIJING, May 29- Huarong Asset Management Co Ltd is poised to become the second Chinese bad loan firm to auction soured loans online amid a push by the government to settle these debts as the economy slows, an executive at e-commerce giant Alibaba Group Holding Ltd said. China Cinda Asset Management Co, the second largest, earlier this year launched...

  • SHANGHAI, May 28- At least three Chinese brokerages, including Guosen Securities Co, Southwest Securities Co and Changjiang Securities Co, tightened margin financing rules on Thursday to tame risks in a red-hot stock market fueled by a record amount of borrowed money. China's benchmark indexes fell over 1 percent on Thursday morning. Changjiang Securities...

  • SHANGHAI, May 27- China's top economic planner said on Wednesday that it would ease restrictions on corporate bond issues to encourage "high-quality" companies to issue more bonds to support the economy. Companies can now finance as much as 70 percent of a project through bond debt, the National Development and Reform Commission said in a statement on its...

  • A China infrastructure tycoon who is suing local governments for failing to pay their bills said he reached settlement deals. The Financial Times reports.

  • ASTANA, May 25- Kazakhstan is seeking loans from China worth around $3 billion to build two new plants to boost copper and aluminium output in the Central Asian nation, Kazakh Deputy Investment and Development Minister Albert Rau told Reuters in an interview. London- listed Kazakh company KAZ Minerals, among the world's major copper producers, announced in...

  • The talks underscored Altice's intentions to pursue a deal with Time Warner Cable, which is also being courted by Charter Communications Inc after Comcast Corp abandoned its $45.2 billion offer for Time Warner Cable last month over U.S. antitrust concerns.

  • May 21- Uber Technologies Inc is seeking a $1 billion credit line from banks, the Wall Street Journal reported, citing people familiar with the matter. The cab-hailing company is in talks with a number of large banks for the loan, asking them how much they would commit and at what terms, the Journal reported, citing the people. San Francisco- based Uber, which has grown...