MGM Mirage ends debt exchange offer because not enough holders accept the dealOctober 1st, 2009 MGM Mirage ends debt exchange offerLAS VEGAS — Casino operator MGM Mirage said Thursday that it has ended a debt exchange offer because not enough debt holders accepted the deal. The offer gave holders the chance to exchange up to $782 million in 8.5 percent senior notes due in 2010 for up to $500 million in 10 percent senior notes due in 2016.
Delinquencies on home equity loans, bank cards hit record highs in 2nd quarterOctober 1st, 2009 Loan delinquencies hit record highs in 2nd quarterNEW YORK — Delinquency rates for three key consumer loan categories hit record highs in the second quarter, according to data released Thursday by the American Bankers Association. Rising unemployment and falling incomes were the main culprits for the higher delinquency rates for bank cards, home equity loans and home equity lines of credit, the ABA said.
20-year-old brunette wins Miss Venezuela, receives crown from Miss UniverseSeptember 25th, 2009 20-year-old brunette wins Miss VenezuelaCARACAS, Venezuela — Marelisa Gibson, a 20-year-old brunette, has been crowned Miss Venezuela and will represent the beauty-obsessed South American country at next year's Miss Universe pageant. The annual Miss Venezuela pageant is the one of Venezuela's most watched programs and a source of national pride.
A look at the debt picture for the 5 largest US airlinesSeptember 17th, 2009 A look at airlines' debt pictureAMR CORP, parent of American Airlines:
Long-term debt and capital lease obligations as of June 30 (includes principal amount of airport facility tax-exempt bonds and present value of aircraft operating lease obligations): $14.2 billion
CONTINENTAL AIRLINES INC.:
Long-term debt and capital lease obligations as of June 30: $4.96 billion
DELTA AIR LINES INC:
Long-term debt and capital lease obligations as of June 30: $14.8 billion
UAL CORP., parent of United Airlines:
Long-term debt and capital lease obligations as of June 30: $6.8 billion
US AIRWAYS GROUP INC.:
Long-term debt and capital lease obligations as of June 30 (net of current maturities): $4.07 billion
———Sources: SEC filings. Figures may not offer straight comparisons depending on how airlines report them.
American Capital gets notice of acceleration on $393 million of notesSeptember 4th, 2009 American Capital gets notice on $393M debtBETHESDA, Md. — Investment firm American Capital Ltd.
Maker of boats and pool tables floats offer to buy back up to $75 in senior secured notesSeptember 3rd, 2009 Brunswick Corp. seek to buy back $75M in debtLAKE FOREST, Ill.
Few notes tendered to McClatchy debt exchange offerJune 26th, 2009 Few take up McClatchy debt exchange offerSACRAMENTO, Calif., — The McClatchy Co.'s offer to exchange debt for a fraction of its value met a 9 percent acceptance rate, the newspaper publisher said Friday. The Sacramento-based company had hoped to exchange $1.15 billion in debt for $60 million in cash and $175 million in new notes to reduce its debt load in the face of a severe decline in advertising revenue.
GMAC Financial Services prices $4.5 billion debt offeringJune 4th, 2009 GMAC prices $4.5 billion debt offeringDETROIT — Auto lender GMAC Financial Services on Wednesday said it has priced a $4.5 billion note offering guaranteed by the Federal Deposit Insurance Corporation under its temporary liquidity guarantee program. GMAC said the securities offering includes $3.5 billion of senior fixed-rate notes and $1 billion senior floating-rate notes, both of which are due in December of 2012.
54 percent of GM bondholders accept offer to swap $27 billion in debt for equityMay 31st, 2009 Majority of GM bondholders accept exchange offerDETROIT — More than 50 percent of General Motors Corp. bondholders said Sunday they would support a sweetened deal to swap the company's $27 billion debt for stock in a restructured, leaner GM.
Pair of Chrysler bond holders drop oposition to proposed Chrysler Chapter 11 planMay 8th, 2009 2 bond holders drop oposition to Chrysler planNEW YORK — Two of Chrysler's dissident bond holders say they're dropping their opposition to the automaker's proposed restructuring plan. OppenheimerFunds and Stairway Capital Management say the group opposing the plan just got too small to be effective.
GM bondholder committee offers to give up $27B in debt for majority stake in restructured GMApril 30th, 2009 GM bondholders seek to take majority stakeNEW YORK — General Motors Corp. bondholders want a majority stake in the restructured automaker in exchange for forgiving their claim to $27 billion of GM debt, a committee representing the bondholders said Thursday.
Small General Motors bondholders rally for better debt swap offer, say current deal is unfairApril 29th, 2009 Small GM bondholders rally for better dealWARREN, Mich. — Individuals who hold General Motors Corp.
Analysts: General Motors bond exchange bound to fail because it provides meager equity stakeApril 28th, 2009 Analysts say GM bond exchange bound to failDETROIT — Analysts are predicting General Motors Corp.'s effort to exchange $27 billion of its unsecured bond debt for equity is likely to fail, because it doesn't provide a big enough stake in the company. GM began its bond exchange Monday, asking bondholders to take 225 shares of common stock for every $1,000 in debt.
Treasury offers Chrysler lenders $1.5 billion plus 5 percent equity stake, says WSJApril 23rd, 2009 Report: Treasury makes offer to Chrysler lendersLOS ANGELES — The Treasury Department lobbed back a new offer to Chrysler LLC's lenders, proposing that banks and hedge funds which hold $6.9 billion in debt forgive $5.4 billion in exchange for a 5 percent stake in a Chrysler-Fiat alliance, media reports said late Wednesday. The new offer represents payment of 22 percent of the debt lenders are owed, according to a report by The Wall Street Journal.
Tech Mahindra's open offer for Satyam begins June 12April 22nd, 2009 MUMBAI - Tech Mahindra Wednesday announced its open offer for a 20-percent additional stake in Satyam Computer Services at Rs.58 per share, after buying 31 percent equity in the IT bellwether following a global auction. The offer to all existing shareholders of the Hyderabad-headquartered Satyam opens June 12 and closes July 1, the company told the regulators.
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