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Credit Corporate Debt

  • ABUJA, Feb 16- The World Bank has approved a $486 million credit facility to Nigeria for electricity grid improvements, the lender said on Friday. "The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional...

  • CUPERTINO, Calif.— Apple's next big thing will likely be a large dividend increase financed by a tax cut on its overseas profits, but the famously secretive company isn't giving any clues about how big it might be. CEO Tim Cook had an opportunity to address the issue Tuesday at Apple's annual meeting, when a shareholder asked if the iPhone maker might double its...

  • *Net loss 23.41 bln rupees vs 1.02 bln rupees profit yr ago. India's banking sector has seen bad loans surge in the last four years, with the 21 state lenders accounting for the bulk of 9.46 trillion rupees in non-performing loans at the end of September. The central bank has pushed about 40 of the biggest corporate loan defaulters into India's new bankruptcy...

  • LONDON— British prosecutors have brought another charge against Barclays over its 2008 deal to give Qatar a loan that was then used to invest in the bank and save it from a government bailout. The Serious Fraud Office on Monday charged Barclays' operating unit with unlawful financial assistance for giving the $3 billion loan to Qatar Holding LLC in 2008 "for the...

  • LONDON, Feb 12- Britain's Serious Fraud Office has charged Barclays Bank with unlawful financial assistance to Qatari investors, extending to the lender's operating arm the same charge it made against the holding company last June. A loan paid to Qatar in November 2008 could have broken the law if the SFO can show it was connected with the Qatari payments to...

  • DUBAI, Feb 11- Sharp fluctuations in global equity markets and other markets in the past few days are not worrying, as global economic growth is strong and available financing is ample, International Monetary Fund managing director Christine Lagarde said on Sunday. But Lagarde, speaking at a Dubai conference on global business and social trends, also said...

  • Debt financing for companies will get expensive

    Companies that had borrowed cheaply for years will face higher costs this year, says Jim McCafferty of Nomura Securities.

  • LONDON, Feb 8- Italy's largest motorway operator Atlantia has secured financing to raise its takeover bid for rival Abertis but any improved offer could take up to a month to materialise, two sources familiar with the matter told Reuters. A new bid is expected to value Spain's Abertis at no less than 19 euros a share, or around 17 billion euros, as the Italian firm...

  • An employee collects newly-manufactured pills from a machine at the tablet production plant at Teva Pharmaceutical Industries Ltd.'s headquarters in Jerusalem, Israel.

    Teva Pharmaceuticals reported a drop in fourth-quarter net profit on Thursday and a weak forecast for 2018 due to the poor state of the US generics market.

  • CAPE TOWN, Feb 7- African miner Petra Diamonds is likely to strike a deal with its lenders that could include a waiver or a reset of its debt covenants within the next month, its chief executive Johan Dippenaar said. The London- listed mining company said last week it had started negotiations with its lenders for debt agreements relating to its EBITDA for December...

  • DETROIT— If auto loan interest rates rise as expected this year, General Motors and others are likely to make more subsidized loans, including zero-percent financing, to keep car sales flowing. CFO Chuck Stevens told reporters Tuesday after GM released its full-year and fourth-quarter earnings that generally, auto company finance arms try to make up for...

  • JOHANNESBURG, Feb 5- South African bank Capitec said on Monday it had no need to adjust its loan book after facing further criticism from U.S. firm Viceroy Research about its financial reporting. Capitec last week dismissed allegations by Viceroy that it overstates its assets and income, and was backed by the South African Reserve Bank which said Capitec was "...

  • *Lists assets of $50,001- $100,000, liabilities of $500 mln- $1 bln. *Receives commitment of up to $725 mln DIP financing. Feb 4- Bon-Ton Stores Inc said on Sunday it filed for bankruptcy protection to restructure its debt and explore a potential sale, making it the first major U.S. brick-and-mortar retailer to do so this year.

  • Feb 2- Bon-Ton Stores Inc, one of the largest U.S. department store operators, has secured a loan that will allow it to file for bankruptcy as early as Sunday, according to people familiar with the matter. The move will make Bon-Ton, which has about 260 stores and nearly $1 billion in debt, the first major U.S. brick-and-mortar retailer to file for bankruptcy this year.

  • BEIJING, Jan 26- China's banking regulator offered an ambitious report of its priorities for the current year that included lowering corporate debt, reducing shadow banking and cleaning up financial holding groups, as part of official efforts to reduce financial risk. In a statement late on Friday, the China Banking Regulatory Commission said that overall...

  • ARTSYZ, Ukraine/ LONDON, Jan 24- When Ukrainian company Profit signed a $48.5 million deal with a British firm in 2014, it became part of what prosecutors in Ukraine say was a potentially criminal scheme that moved $1.7 billion from the country's biggest lender to offshore accounts. With a loan it had raised from PrivatBank in east Ukraine, Profit paid Trade Point...

  • *India's top explorer Oil and Natural Gas Corp has secured a $2.83 billion loan from three banks to part fund its $5.8 billion acquisition of state-refiner Hindustan Petroleum Corp, ONGC said. **Vodafone said it had agreed to buy Athens- based CYTA Telecommunications Hellas S.A. for 118 million euros to expand its fixed line network in Greece.

  • Jan 21- Philadelphia Energy Solutions LLC, the owner of the largest U.S. East Coast oil refining complex, announced to its employees on Sunday that it plans to file for Chapter 11 bankruptcy, according to an internal memo reviewed by Reuters. The company has secured access to $260 million in new financing, and said it expected the filing to have no immediate impact...

  • Jan 19- A third of Chinese conglomerate HNA Group's listed units have suspended trading in their shares since November as the group faces rising financing costs after a $50 billion acquisition spree over the past two years. 1. HNA-Caissa Travel Group Co Ltd. *Major shareholders: HNA Tourism Group Co Ltd owns 32.18 percent.

  • Jan 19- HDFC Bank Ltd reported a record high quarterly profit, as an increase in interest and fee incomes as well as a steady non-performing loan ratio boosted the bottom line for India's second-largest lender by assets. That was its highest ever quarterly profit and broadly in line with the 46.31 billion rupees analysts had expected on average, according to...