Sinclair Broadcast in deal to pay off $438 million in senior notes with new debt, shares jumpAugust 21st, 2009 Sinclair Broadcast, debt holders reach dealNEW YORK — Shares of TV station owner Sinclair Broadcast Group Inc., which has been suffering from a decline in advertising, jumped Friday after the company said it had reached a deal to pay off about $438 million in convertible notes with new debt. Its shares advanced 83 cents, or nearly 40 percent, to $2.98 in morning trading.
UDR extends early deadline of previously announced debt offeringAugust 18th, 2009 UDR extends debt offering deadlineDENVER — UDR Inc., a real estate investment trust, said Tuesday that it extended the early cash tender deadline on previously announced notes. The early deadline for the 8½ percent notes due Sept.
International Paper says almost 57 percent of 2014 notes holders accept tender offerAugust 12th, 2009 International Paper buys back $567.5M in notesMEMPHIS, Tenn. — International Paper Co.
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.
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.
No new bids submitted for NJ Tropicana casino, but lawyer says late offer may materializeMay 30th, 2009 No new NJ Tropicana bids, but late offer may comeATLANTIC CITY, N.J. — No new bids for the Tropicana Casino and Resort were submitted by the Friday deadline, but a lawyer involved in the bankruptcy court auction said an after-hours offer from a potential purchaser might still materialize.
Investor group including Icahn appears to be winner of Atlantic City's Tropicana casinoMay 30th, 2009 Icahn group appears to be winner of NJ TropicanaATLANTIC CITY, N.J. — A group including billionaire investor Carl Icahn appeared to have won the right to buy the Tropicana Casino and Resort at the bargain price of $200 million after no additional bids were submitted by the Friday deadline.
MGM Mirage taps Kerkorian to buy new shares and puts up Bellagio, Mirage to raise $2.5B in allMay 13th, 2009 MGM Mirage announces plan to raise $2.5BLAS VEGAS — Casino operator MGM Mirage said Wednesday that it would tap its majority shareholder, billionaire Kirk Kerkorian, and use two of its most famous resorts as collateral to help raise $2.5 billion in capital as it fights to save itself and pay down some of its $14 billion in debt. A series of moves — including a sixth amendment to its credit agreement, an offering of 81 million new shares and a plan to buy back $1.05 billion in debt due this year — should help the company get through the recession.
MGM Mirage looks to raise $2.5 billion in capital as it looks to meet its liquidity needsMay 13th, 2009 MGM Mirage looks to raise $2.5B in capitalNEW YORK — Casino operator MGM Mirage, majority-owned by billionaire Kirk Kerkorian, said Wednesday that it plans to raise $2.5 billion through stock and bond offerings to pay off some of its more than $14 billion in debt and strengthen its balance sheet. Investors, seemingly unconvinced, sent the company's stock down 29.8 percent, or $3.70, to close at $8.70.
Validus aims at IPC Holdings shareholders, continuing hostile takeover effortMay 12th, 2009 Validus offers to exchange its share for IPC stockNEW YORK — Validus Holdings Ltd. on Tuesday offered to exchange its own shares for those of fellow Bermuda-based reinsurer IPC Holdings Ltd.
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.
Pair of Chrysler bond holders drop opposition to proposed Chrysler Chapter 11 planMay 8th, 2009 2 bond holders drop opposition to Chrysler planNEW YORK — Two of Chrysler LLC's dissident bond holders said Friday they have dropped their opposition to the automaker's proposed restructuring plan, saying that the group challenging the plan in court was too small to be effective. The departures of OppenheimerFunds Inc.
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.
AP sources: Treasury reaches deal with main Chrysler lenders in effort to stave off bankruptcyApril 28th, 2009 AP sources: Gov't, Chrysler lenders reach dealWASHINGTON — The Treasury Department has reached a tentative agreement with four of Chrysler's major debt holders in a bid to keep the automaker out of bankruptcy protection, two people familiar with the talks said Tuesday. Under the agreement, the four banks will forgo claims to their portion of Chrysler's $6.9 billion debt in exchange for $2 billion in cash when the deal closes, said the people, who spoke on condition of anonymity because the agreement has not been formally announced.
Meltdown 101: How will GM's debt-for-stock swap plan work _ and will it prevent bankruptcy?April 27th, 2009 Meltdown 101: GM's debt-for-stock swap planGeneral Motors Corp. on Monday unveiled a plan to swap its debt for common stock — a move that could potentially help the storied U.S.
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