Corporate Debt


  • TORONTO, Oct 8- A provincial court on Wednesday approved U.S. Steel Corp's C $185 million debtor-in-possession financing facility for the company's Canadian unit and extended its protection from creditors until late January. Steel Canada and its stakeholders to come together to develop a viable plan of arrangement for the business, "the Canadian unit's...


  • NEW YORK, Oct 8- Bank of America Corp has clinched a deal to provide inventory and working capital financing to the biggest oil refinery on the East Coast, replacing JPMorgan Chase& Co with a revamped arrangement that excludes physical supplies, according to a source familiar with the deal. The agreement with Philadelphia Energy Solutions, sealed on Tuesday, will...

  • Oct 8- Citigroup Inc's consumer finance unit, OneMain Financial Holdings Inc, filed for an initial public offering of its common stock, a big step in the No. 3 U.S. bank's plan to sell unwanted assets and focus on wealthier clients. OneMain is part of Citi Holdings, which Citigroup created during the financial crisis to park assets that it wanted to eventually divest...

  • *Lukoil said difficulties raising financing. IMILORSKOYE FIELD, Russia, Oct 8- Russia's No.2 oil producer Lukoil launched an oilfield in western Siberia ahead of schedule on Wednesday, a major step in its drive to prop up falling production and to weather U.S. sanctions over Ukraine. Lukoil, Russia's largest non-state oil company and controlled by Alekperov and...

  • NEW YORK, Oct 6- A New York state development agency has approved up to $1.78 billion in funding for the completion of the stalled 3 World Trade Center building in lower Manhattan. The New York Liberty Development Corp approved the funding at a board meeting on Monday. The mandate includes over $1.6 billion in tax-exempt Liberty and Recovery Zone Bonds.

  • New plans to clean up China's long-feared local government debt will bring near-term pain, but a longer-term fix may be in sight, analysts say.

  • NEW YORK, Oct 2- Mortgage credit remains. For example, at Boston- based real-estate lender Edward Voccola& Co. clients who borrow to buy rental properties must simply provide identification, the property address and the expected annual rent. The Mortgage Bankers Association's Mortgage Credit Availability Index, which measures the ease of obtaining a home loan,...

  • DUBAI, Sept 30- Gulf banks are feeling the pinch of rapidly shrinking corporate loan margins, with some predicting a bounce in lending rates as soon as the first half of 2015 as the escalating price war bites into profitability.

  • OTTAWA, Sept 29- A little-known Canadian federal agency helped put in place a total of $418 million worth of Cuban deals for a firm headed by Cy Tokmakjian, the businessman jailed for corruption in Havana last week. The total value of CCC's Cuban contracts with the Tokmakjian Group between 1992 and 2011 was C $418 million, said corporation spokeswoman Lina Seto.

  • RadioShack's shares were up 21 percent at 96 cents in morning trading on the New York Stock Exchange. Standard General, which raised its stake in RadioShack to 9.8 percent from 7.08 percent to become the largest shareholder, said its proposals include purchasing the company's loans and other commitments under its credit facility.

  • TORONTO/ CHICAGO, Sept 25- The turnaround specialist who had signed on to run Sears Holdings Corp's Canadian business is resigning for personal reasons, the struggling U.S. retailer said on Thursday, the same day a major shareholder said it was no longer interested in contributing to a loan.

  • this week finding that Arab Bank Plc provided material support to Hamas could cause banks to cut ties to foreign banks and customers and make it even harder to monitor the financing of militant networks, banking industry representatives said.

  • DETROIT, Sept 24- The U.S. Treasury last year permitted top executives at General Motors Co and Ally Financial Inc to collect "excessive pay" while those companies were part of a taxpayer-funded government loan program, a special inspector general reported on Wednesday. In April, Treasury said it lost $11.2 billion on the $49.5- billion GM bailout.

  • NEW YORK, Sept 22- The leader of a Manhattan- based non-profit that tries to put pressure on Iran by publicly criticizing people and firms who do business there announced on Monday he is launching a new non-profit devoted to tracking terrorist financing.

  • SOCHI, Russia, Sept 22- Promsvyazbank, one of Russia's largest private banks, sees its corporate loan book growing by around 30 percent this year on demand from large companies which cannot tap Western markets due to sanctions, its CEO said.

  • Sept 19- For-profit college operator ITT Educational Services Inc disclosed on Friday that it may face civil charges by the U.S. securities regulator following investigations related to two private education loan programs for its students.

  • Sept 19- For-profit college operator ITT Educational Services Inc disclosed on Friday that it may face civil charges by the U.S. securities regulator following investigations related to two private education loan programs for its students.

  • *Banks to pay back 20 bln euros of old crisis loans to ECB. FRANKFURT, Sept 19- European Central Bank plans to bolster lending to business were dealt another setback on Friday after banks decided to repay billions of euros of cheap ECB credit, sapping money available to lend to business.

  • NEW YORK, Sept 18- Arab Bank Plc never provided material support for the Palestinian group Hamas, a lawyer for the bank told jurors on Thursday during closing arguments at the bank's civil trial on charges of financing terrorism.