Tata Steel is now in the process of finding banks to facilitate the sale of bonds for its debt refinancing purposes.
Tags: Banks
Senate Bill Requires Higher Capital Ratio
There is a new bill for consideration on the US Senate floor as to the required capital ratio of the banks, to avoid the 'too-big-to-fail' argument.
Sterling Bancorp Bought by Provident New York Bancorp
Sterling Bancorp was purchased by Provident New York Bancorp for US$344 million. Provident New York Bancorp has announced its purchase of Sterling Bancorp through a stock deal amounting to US$344 million.
Buyout of Elior Prompts Use of Covenant Lite Financing
Elior buyout financing options are attracting buyout firms and more creative financing. Banks are being asked to provide its very first pure covenant lite debt package from Europe in order to support a buyout of Elior, the French catering firm.
Sharjah Islamic Bank to Issue Sukuk Bond
A US$50 million sukuk bond issue would be undertaken by the Sharjah Islamic Bank. The lending institution partly owned by the UAE emirate of Sharjah, the Sharjah Islamic Bank is now in the process of preparing for a dollar denominated Islamic bond or sukuk.
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Reuters, in its investigation, found existing measures by the EU that could have avoided the Cypriot banking system collapse.
Abu Dhabi's Al Hilal Bank to issue sukuks before end of the year. Al Hilal Bank, the state owned bank of Abu Dhabi, is planning to issue a debut Islamic bond valued at US$500 million to be done in the third quarter of 2013.
Chrsyler asks for IPO or buyout options from banks. Chrysler has invited banks to offer pitches scheduled for next month for IPO scenarios and results according to four individuals familiar with the decision.
CDW to offer IPO after its takeover by private equity firms. (Correction in first paragraph to US$750 million. ) In a complicated move, CDW, the technology products maker taken over by Madison Dearborn Partners LLC and Providence Equity LLC for the amount of US$7.
Many banks interested in Chrysler buyout, according to CEO. After previous comments on the personal choice of Fiat CEO Sergio Marchionne, it was revealed that the Fiat CEO has talked to banks on financing a buyout of Chrysler's stake in the company.
Three major banks interested in purchasing Catalunya Banc Three Spanish banks have placed bids on Spanish lending giant Catalunya Banc. The nationalized lender is being sold and the non-binding bids were submitted by Santander, Sabadell and Popular.
Tribune Puts Up Assets for Sale The Tribune Corp has engaged the services of two of the top investment banks to assess sales opportunities for its newspaper unit.
Banks are now cleaning the vestiges of the 2008 market crash by dumping CDS instruments. In a house-cleaning move, several major banking institutions are trying to rid itself of the credit portfolios that had been the major cause of the 2008 global financial crisis.
