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Corporate Debt

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  • WILMINGTON, Delaware, Feb 9- Bankrupt electronics retailer RadioShack Corp got court approval on Monday to borrow $10 million to support its operations until it opens the bidding this month for its best-performing stores. RadioShack, which filed for Chapter 11 bankruptcy last week, has an initial deal to sell as many as 2,400 of its 4,100 stores to an affiliate...

  • NEW YORK, Feb 5- Venezuela's US refining unit Citgo was forced to sweeten the terms of a US $2.5 bn financing package aimed at pumping new cash into the coffers of the South American country's state-owned oil company PDVSA. "Initial price indications were too tight for investors," said Jorge Piedrahita, Chief Executive Officer or brokerage Torino Capital.

  • Apparel retailer Cache files for bankruptcy Wednesday, 4 Feb 2015 | 6:28 AM ET

    Feb 4- Apparel retailer Cache Inc filed for Chapter 11 bankruptcy protection and the company said it was seeking a "stalking horse" bidder for its assets. The company said it had received commitment for debtor-in-possession financing of up to $22 million from Salus Capital Partners LLC. The mall-based retailer said in December that it was evaluating strategic...

  • DETROIT, Feb 3- AutoNation Inc, the largest U.S. auto dealer group, on Tuesday posted a higher-than-expected quarterly profit due to strong profit margins from new and used vehicle sales, driving its shares up nearly 8 percent. AutoNation Chief Executive Officer Mike Jackson said in an interview that low gasoline prices of about $2 a gallon, generous financing...

  • SAN FRANCISCO, Feb 2- Alibaba Group Holding Ltd is teaming with LendingClub Corp to offer financing to U.S. businesses to buy from Chinese suppliers, hoping to make it easier for American firms to tap the world's largest economy. LendingClub, an eight-year-old San Francisco startup, said it will provide its core service of matching small business borrowers with...

  • Greece's power when it comes to debt   Monday, 2 Feb 2015 | 11:10 AM ET
    Greece's power when it comes to debt

    How much power does Greece currently have over negotiating its debt? Elena Panaritis, economist at Thought 4 Action, says there are only two options: "default within euro," or "paying back the debt."

  • Greece fin min: Must end debt 'addiction'   Monday, 2 Feb 2015 | 4:20 AM ET
    Greece fin min: Must end debt 'addiction'

    Yanis Varoufakis, the finance minister of Greece, and Michel Sapin, the finance minister of France, talk about the current state of Greece's debt.

  • Syriza can bark, but not bite   Friday, 30 Jan 2015 | 4:40 AM ET
    Syriza can bark, but not bite

    Discussing Greek debt, Alberto Gallo, head of macro credit research at RBS, says a solution will be reached on a debt extension for Greece, however volatility will continue.

  • HONG KONG, Jan 26- Li Ka- shing's hectic start to 2015 has meant record Asia M&A, loan and equity deals so far this month- good news for investment bankers close to the 86- year-old Hong Kong tycoon's empire. The brisk business- $108 billion of Asia M&A makes it the best start to a year, according to Thomson Reuters data- raises hopes that the Chinese Year of the Goat could...

  • Jan 22- Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a quarterly profit that narrowly missed Wall Street's estimates as the company set aside more money to cover bad loans. Net income attributable to the company's shareholders rose to $974 million, or $1.73 per share, from $835 million, or $1.43 per share.

  • HOUSTON, Jan 22- Citgo Petroleum confirmed on Thursday its assets are no longer for sale after parent company PDVSA of Venezuela decided to cancel the offering despite receiving several bids, according to Thomson Reuters IFR. The $1 billion senior secured loan being proposed has a rate of Libor +800 basis points and a five-year term, Citgo said in New York,...

  • Jan 21- Credit card issuer Discover Financial Services Inc reported a 33 percent drop in quarterly profit as it set aside more money to cover bad loans. Discover's net income allocated to shareholders fell to $392 million, or 87 cents per share, from $588 million, or $1.23 per share, a year earlier. The company's larger rival American Express Co reported a 10.7...

  • Jan 21- Credit card issuer Discover Financial Services Inc reported a 33 percent drop in quarterly profit as it set aside more money to cover bad loans. The company's net income allocated to common shareholders fell to $392 million, or 87 cents per share, in the fourth quarter ended Dec. 31, from $588 million, or $1.23 per share, a year earlier. Revenue, net of interest...

  • Jan 21- JPMorgan Chase& Co got a painful reminder on Wednesday that we all have to live with our mistakes, even a clerical mix-up that could cost $1.5 billion. A federal appeals court in Manhattan ruled on Wednesday that, although it was not JPMorgan's intention, it clearly authorized its law firm to file papers in 2008 that unsecured much of a loan to General Motors.

  • SpaceX raises $1 bln in funding from Google, Fidelity Tuesday, 20 Jan 2015 | 5:06 PM ET

    Jan 20- Elon Musk- backed Space Exploration Technologies said it has raised about $1 billion in a financing round with two new investors, Google Inc and Fidelity.

  • Jan 20- Apparel retailer Express Inc said it ended talks to be bought by private equity firm Sycamore Partners, its largest shareholder, due to unavailability of financing. Shares of Express, which was once a division of L Brands Inc, were down nearly 13 percent at $12.60 in premarket trading. Private equity firm Golden Gate Capital took Express private in 2007 and...

  • Express Inc ends deal talks with Sycamore Partners Tuesday, 20 Jan 2015 | 8:21 AM ET

    Jan 20- Apparel retailer Express Inc said it terminated talks to be bought by private equity firm Sycamore Partners, its largest shareholder. The company said talks ended due to the "unavailability of financing on commercially acceptable terms". Express's shares were down nearly 12 percent at $12.75 in premarket trading on Tuesday.

  • The Financial Conduct Authority, which regulates the financial services industry in the UK, had said on Friday it was working closely with Alpari. New York- listed FXCM Inc was forced to turn to Leucadia National Corp to secure a $300 million loan to cover losses of $225 million suffered by its clients. Industry news site Forex Magnates, citing unnamed sources...

  • NEW YORK, Jan 16- Retail foreign exchange broker FXCM Inc, reeling after customers lost more than $200 million from the surging Swiss franc, will get a $300 million loan from Leucadia National Corp to keep operating, the companies said in a statement Friday. "Leucadia`s support and this financing are by far the best alternative for FXCM, our customers, our...

  • Austrian banks count cost of eastern troubles Friday, 16 Jan 2015 | 2:00 AM ET

    UniCredit Bank Austria, the Austrian bank with the biggest exposure to CEE, booked a 1.6 billion euro loss in 2013 after big goodwill impairments for exposure in the East, where it is trying to sell its Ukraine business after ending an ill-fated foray into Kazakhstan. Raiffeisen ratcheted higher estimates for bad loan provisions due to increasing violence in...