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Corporate Debt

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  • HONG KONG/ SHANGHAI, March 24- Agricultural Bank of China Ltd on Tuesday reported a 4 percent dip in fourth-quarter profit and a spike in bad loans as manufacturers and retailers struggled to repay debt while economic growth slowed. "This year, industry net interest margin will be on a downward trend, first quarter profit is also likely to fall," Chief Financial...

  • March 24- Ocwen Financial Corp said it would sell an additional $25 billion of residential mortgage servicing rights to a subsidiary of Nationstar Mortgage Holdings Inc..

  • March 23- Ocwen Financial Corp rejected allegations of poor mortgage servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not be removed as a servicer. Investors including BlackRock Inc and Metlife Inc sent a notice to Ocwen and the trustees in January, alleging improper loan modification...

  • Why US companies are selling record euro debt Monday, 23 Mar 2015 | 9:38 AM ET
    A financial trader monitors data on computer screens as a desktop television shows euro currency banknotes at the Frankfurt Stock Exchange in Frankfurt, Germany.

    Depressed yields in Europe are attracting record debt sales by U.S. multinationals, the Financial Times reports.

  • March 23- Ocwen Financial Corp refuted allegations of poor mortgage-servicing practices and said on Monday that it had sent a letter to trustees of 119 mortgage pools, arguing that it should not be removed as a servicer. Investors including BlackRock Inc and Metlife Inc sent a notice to Ocwen and the trustees in January, alleging improper loan modification...

  • Can Greece make up with Germany?   Monday, 23 Mar 2015 | 5:00 AM ET
    Can Greece make up with Germany?

    Greek Prime Minister, Alexis Tsipras, is due to meet German Chancellor, Angela Merkel, to discuss debt negotiations. CNBC's Annette Weisbach discusses what to expect.

  • March 23- Ocwen Financial Corp has rebutted allegations that the company was responsible for poor mortgage-servicing practices and argued it should not be removed as a servicer on mortgage pools, the Wall Street Journal reported. Investors including BlackRock Inc and Metlife Inc sent a notice to Ocwen and trustees in January, alleging improper loan...

  • Chinese property developer Kaisa Group, illustrates the challenges for investors holding uninsured corporate debt: Kaisa is trying to restructure 48 billion yuan of debt and is mired in crisis after the local government in its home base of Shenzhen blocked sales at some of its projects last year, leaving investors shell-shocked. A debt restructuring plan...

  • Five themes Asia investors need to know Thursday, 19 Mar 2015 | 8:50 PM ET
    An Indonesian man looks at a running display showing share prices at the stocks exchange building in Jakarta.

    Volatility has become a market hallmark this year and investors across Asia are grappling with a slew of issues. Here are the top five themes.

  • CARACAS, March 19- China will lend Venezuela around $10 billion in coming months, half as part of a bilateral financing deal and the other half for the development of oil fields, a senior official at state oil company PDVSA said on Thursday. Fresh funds are a boon for financially squeezed Venezuela and will likely increase market confidence over the OPEC...

  • March 19- Canada's Bank of Nova Scotia sued Cliffs Natural Resources Inc, saying the U.S. iron ore miner had breached terms of a loan agreement when it filed for creditor protection for its Canadian operations. Cliffs in January stopped production at its Bloom Lake mine in Quebec, where costs exceeded expectations, and started restructuring the Canadian...

  • March 19- Iron ore miner Cliffs Natural Resources Inc has been sued by Canada's Bank of Nova Scotia for about $52.6 million for breaching some debt terms related to its Bloom Lake mine in Quebec. Cliffs' application for creditor protection in Canada "constituted a default" under the loan agreement, accelerating the company's payment obligations, Scotiabank...

  • March 18- Ocwen Financial Corp said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp. Ocwen, which delayed filing its full-year results, also said it was reviewing the ability of its affiliate, Home Loan Servicing Solutions Ltd, to meet obligations to fund new servicing advances.

  • March 18- Ocwen Financial Corp said it will sell residential mortgage servicing rights worth $9.6 billion to Green Tree Loan Servicing LLC, a subsidiary of Walter Investment Management Corp..

  • SANTIAGO, March 18- Chilean fertilizer group SQM said the three representatives on its board from Canadian stakeholder Potash Corp resigned on Tuesday evening in the midst of a campaign financing scandal that has shaken the Chilean establishment. SQM Vice Chairman Wayne Brownlee, who is also chief financial officer of Potash Corp, and directors Jose Maria...

  • SANTIAGO, March 17- SQM fertilizer company has fired its chief executive after it became embroiled in an election campaign financing scandal that has rocked the Chilean establishment, tainting business leaders and politicians with close links to the 1973-1990 dictatorship of Augusto Pinochet. Shortly after the announcement, SQM said it would voluntarily...

  • Chile's SQM fires CEO tied to campaign finance scandal Tuesday, 17 Mar 2015 | 9:46 AM ET

    SANTIAGO, March 17- Chile's SQM has fired its chief executive after the fertilizer company became embroiled in a campaign financing scandal largely involving a right-wing party with close links to the 1973-1990 dictatorship of Augusto Pinochet. Authorities are probing whether resources were channeled illicitly to finance electoral campaigns for the...

  • ZURICH/ BERLIN, March 12- Volkswagen is in talks to sell a 50 percent stake in financing arm LeasePlan to a consortium including the Abu Dhabi Investment Authority, a source familiar with the plan said, as the carmaker cuts costs and refocuses its business. The Wolfsburg- based carmaker owns VW Leasing GmbH, its own in-house leasing business, and is increasingly...

  • LONDON/ DUBAI, March 12- Saudi Aramco, the kingdom's state oil giant, is close to completing a $10 billion tightly-priced loan, banking sources said on Thursday, part of which could be used to back the purchase of a stake in German synthetic rubber firm Lanxess. The cash replaces an existing $4 billion five-year loan due to mature later this year which Aramco, the...

  • Alibaba enlists startups to provide UK trade financing Wednesday, 11 Mar 2015 | 3:00 AM ET

    SAN FRANCISCO, March 11- Alibaba Group Holding Ltd has enlisted two UK startups to provide financing for small British businesses looking to buy from Chinese suppliers, aiming to help cash-strapped firms access the world's largest economy. The partnerships with iwoca Ltd and ezbob announced by Alibaba on Wednesday are a first for the Chinese company in...