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Corporate Debt

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  • BRUSSELS, June 14- China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters- Beijing's latest round of chequebook diplomacy to win greater influence. "China announced that it would make available for co-financing strategic investment of common...

  • Huge growth in China’s money funds poses risk Sunday, 14 Jun 2015 | 2:43 AM ET

    China's online money market funds have transformed how millions of Chinese invest their savings, but some see red flags. The FT reports.

  • UPDATE 1-Tesla enters into $500 mln credit facility Friday, 12 Jun 2015 | 6:14 PM ET

    June 12- Electric car maker Tesla Motors Inc said on Friday that along with its subsidiary, Tesla Motors Netherlands B.V., it had entered into a $500 million senior secured asset-based revolving credit agreement. The agreement was signed with a group of banks, including Deutsche Bank, Bank of America, the company said. Tesla said in May that it planned a total of $1.5...

  • Tesla enters into $500 mln credit facility Friday, 12 Jun 2015 | 5:55 PM ET

    June 12- Electric car maker Tesla Motors Inc said on Friday that along with its subsidiary, Tesla Motors Netherlands B.V., it had entered into a $500 million senior secured asset-based revolving credit agreement. The agremeent was signed with a group of banks, including Deutsche Bank, Bank of America, the company said. In May, the company unveiled Tesla Energy-...

  • NEW YORK, June 12- Global corporate bond defaults are running at their fastest pace, year-to-date, since 2009, Standard& Poor's said in a study published on Friday. More than half of the 2015 defaults are in the United States, the study showed. "We have clearly hit a fair amount of volatility in the market right now," Diane Vazza, head of global fixed income research at...

  • MEXICO CITY, June 12- BlackRock Inc, the world's largest asset manager, has agreed to buy a Mexican infrastructure investment fund that financed projects for a contractor at the center of a scandal which embroiled President Enrique Pena Nieto. BlackRock announced its deal to buy Infraestructura Institucional, also known as I Cuadrada, on Friday, but gave no...

  • 8 million borrowers are underwater Friday, 12 Jun 2015 | 2:00 PM ET
    8 million borrowers are underwater

    CNBC's Diana Olick reports on home owners that are deep underwater and 52% of underwater borrowers owe more on loans than the value of their home.

  • *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...