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Credit Corporate Debt

  • HONG KONG, May 9- China Huishan Dairy Holdings Co Ltd, wrestling with debt, battered shares and an empty boardroom, could come under more pressure from its banks after one creditor demanded it repay a $50 million loan, people familiar with the matter said. Huishan, whose shares are suspended indefinitely on the Hong Kong exchange, said late on Monday that Bank of...

  • The company also said KKR& Co LP had agreed to invest $150 million and Richard Sarnoff, KKR's head of media& communications private equity investing in the Americas will join Pandora's board. "..we have positioned the company to evaluate any potential strategic alternatives, including a sale, in the 30 days before the financing is set to close," board member James...

  • May 8- Home Capital Group Inc on Monday suspended its dividend, tapped its credit line and added new directors, the latest attempts from Canada's biggest non-bank lender to restore investor confidence and stem the flow of customer withdrawals. Home Capital has become a rare Canadian financial institution to face a run on its deposits and its troubles come at a...

  • May 8- Goldman Sachs Group Inc named M&A co-head Gregg Lemkau and financing group chief Marc Nachmann as co-heads of the firm's global investment banking division, according to an internal memo on Monday. The changes come after Goldman last year elevated former banking co-head David Solomon to the firm's No. 2 position alongside Chief Financial Officer...

  • PUERTO RICO'S FEDERAL OVERSIGHT BOARD FILES FOR BANKRUPTCY PROTECTION UNDER TITLE III OF PROMESA LAW FOR PUERTO RICO SALES TAX FINANCING CORPORATION.

  • HONG KONG, May 4- China's Ant Financial, an affiliate of online shopping giant Alibaba Group, is close to signing a $3.5 billion loan a part of which will help fund its purchase of U.S. money transfer company MoneyGram International, Thomson Reuters Basis Point reported. Fourteen banks, including Australia and New Zealand Banking Group, Citigroup, Credit Suisse,...

  • SAO PAULO, May 3- Brazilian stocks fell on Wednesday following a mixed batch of corporate earnings and ahead of a key vote on an overhaul of the country's pension system in Congress. Shares of lender Itaú Unibanco Holding SA weighed on the index after rising defaults kept it from cutting loan-loss provisions as much as investors expected in the first quarter.

  • SAO PAULO, May 3- Brazilian stocks fell on Wednesday following a mixed batch of corporate earnings and ahead of a key vote on an overhaul of the country's pension system in Congress. Shares of lender Itaú Unibanco Holding SA subtracted the most points from the index after rising defaults kept it from cutting loan-loss provisions as much as investors expected...

  • SAO PAULO, May 3- Brazil's No. 1 bank Itaú Unibanco Holding SA will monitor problematic loans among large corporate borrowers, a sign of caution as an unprecedented credit downturn magnifies a deep recession and the impact of a broad corruption scandal. To protect Itaú's 34 billion reais in outstanding real estate and infrastructure loans, the bank will...

  • San Francisco- based Instacart raised $400 million in its latest financing round in March, boosting the company's valuation to $3.4 billion as investors showed more enthusiasm for a business model whose viability had long been in question. Instacart is backed by prominent venture capital firms such as Sequoia Capital, Khosla Ventures, Kleiner Perkins...

  • May 3- Canadian mortgage provider Equitable Group Inc said on Wednesday it had added three more banks to a syndicate that would fund its C $2 billion loan commitment. Subprime mortgage lenders in Canada have been racing to shore up confidence in their model as depositors pulled more money out of rival Home Capital Group Inc's high-interest savings accounts.

  • SAO PAULO, May 3- Itaú Unibanco Holding SA beat first-quarter profit estimates on Wednesday as stricter credit risk controls allowed Latin America's largest bank by assets to cut loan-loss provisions despite eroding corporate loan book quality. The number topped an average consensus estimate of 6.010 billion reais compiled by Thomson Reuters.

  • May 1- Canadian mortgage provider Equitable Group Inc said it received a C $2 billion loan commitment and expected applications to increase in the coming weeks, at a time when rival Home Capital Group's withdrawals are rising. Equitable Group's announcement suggested the "funding situation of the alternative lending market is markedly less drastic than...

  • NEW YORK, May 1- GSO Capital Partners, private equity firm Blackstone Group LP's credit arm, is acquiring more of J. Crew Group Inc's debt, hoping for a profitable trade that could also give the U.S. fashion retailer more time to stave off bankruptcy, people familiar with the matter said. It now has $2.1 billion in debt. But holders of a $1.53 billion loan to J. Crew,...

  • April 28- Shares of Carvana Co, which uses vending machine-like towers to sell used cars, fell 10 percent in their debut. The company's shares opened at $13.50 on Friday, below the IPO price of $15, which valued the company at about $2 billion. Carvana sells cars through its website and also provides financing.

  • BEIJING, April 28- Industrial and Commercial Bank of China Ltd posted a small rise in quarterly net profit that slightly missed estimates, but the world's top lender by assets appears to be turning the corner on bad debts. ICBC said on Friday net profit grew 1.37 percent in the three months through March to 75.8 billion yuan. Net interest margin, the difference...

  • The company was delisted from the Milan bourse in 2015, where its shares had traded since 1922, following a mandatory offer launched by an investment vehicle controlled by China National Chemical Corp. It said Marco Polo would be granted 1.25 billion euros in bank financing to be repaid with the IPO proceeds. Pirelli would launch a 1.2 billion euro capital...

  • BEIJING, April 28- Bank of China Ltd, the country's fourth-biggest lender by assets, posted flat first-quarter net profit growth on Friday, missing estimates as bad loans weighed on its balance sheet. Profit was 46.6 billion yuan in the three months ended March 31, flat from 46.6 billion yuan a year earlier. Its NPLs topped 150.3 billion yuan at end-March compared...

  • WILMINGTON, Del, April 27- The owners of one of the first new U.S. nuclear power plants in decades said the half-finished reactors might not be completed without changes to a proposed $800 million loan to the bankrupt builder, Westinghouse Electric Co LLC. Westinghouse filed for bankruptcy in March, blaming billions of dollars of cost overruns at two nuclear...

  • MUMBAI, April 27- India's Kotak Mahindra Bank Ltd forecast a decline in bad loans and provisioning costs and a pick up in credit growth this financial year after reporting a better-than-expected 40 percent rise in fourth-quarter profit on Thursday. Kotak Mahindra-- the fourth-biggest private sector lender in the country by assets but the third most-valuable...