Hints and tips:
...Pro forma royalty revenues from its catalogue — a measure that strips out the boost from acquisitions — have fallen for the past two years and the cost of servicing its $600mn of debt is rising....
...Moody’s analysts have warned that by year’s end, more than half of single-B minus rated US companies will not be generating enough cash to cover their capital expenditure while servicing their debt....
...At some point, these companies won’t be able to keep servicing their debts. Base rate + 800 bps is a lot easier to handle when rates are near zero than at 4-6 per cent....
...At some point, these companies won’t be able to keep servicing their debts....
...The cost of servicing its $600mn in debt is rising. And it hasn’t bought a song in over a year....
...Job moves Peter Long, the executive chairman of troubled high street estate agent Countrywide, stepped down after a private equity rescue deal he negotiated with Alchemy Partners was rejected by shareholders...
...executive (FT + Lex) Jean Pierre Mustier rules himself out of HSBC running (FT) Buffett stands by strategy of pouring cash into stocks (FT) Banks fear Ion/Broadway deal will push up forex fees (FT) Countrywide...
...The cost of servicing £350m of new debt, raised in October with a record 9.5 per cent coupon, means Metro is not expected to return to profit until 2021....
...The company sells new engine types at a loss and makes its money on servicing. Cash flow from this source is rising. Mr East has instead been blindsided by faults in the Trent 1000 engine....
...Sabadell said it would keep its real estate servicing arm and hold a 20 per cent stake in the property assets, which had a gross book value of about €9.1bn, with the rest owned by Cerberus....
...Servicing that debt will eat into cash flow for the foreseeable future, Mr Kennedy said.* *This article has been updated to clarify the analyst’s comment...
...For illustrative purposes and to simplify the computation, we assume that interest rate changes affect neither real GDP growth nor the average public debt servicing cost....
...The Federal Reserve’s quantitative easing has enabled Blackstone and its peers — including Apollo Global Management, Carlyle and KKR — to put high levels of debt on the companies they buy because servicing...
...Group revenues for the 26 weeks to September 29 rose 3.8 per cent from a year earlier, as a 4.5 per cent increase in retail sales offset a 0.6 per cent decline in revenues from its garage servicing and auto-repair...
...Other companies that service the sector, including Halliburton, the oilfield servicing group, and Caterpillar, the world’s biggest maker of heavy machinery, have also benefited from the crude recovery....
...Haya Real Estate, which includes a former Bankia servicing platform, is owned by Cerberus....
...Toys R Us has spent more than $250m a year servicing $5bn in long term debt, which was “not a sustainable situation,” one investor said, as the company faced increasingly crushing competition from Amazon...
...That allowed the bank to record a $280m profit this quarter from higher valuations of mortgage servicing rights....
...That is how I came to spend more time studying mortgage servicing rights, or MSRs....
...end — potentially abruptly, due to the slowness of China’s credit clean-up. 1990s vs 2010s heatmaps below, on early-warning ‘gaps’ in measures like credit to GDP, real effective exchange rates, and debt servicing...
...Countrywide became the latest on Thursday to issue a warning of lower profits on the back of fewer sales, especially in London and the South East since the referendum result....
...During the year ended December 31, 2015, the Company earned $636,000 in servicing fees and $357,000 in management fees from this family of funds, and paid interest of $7.4 million to the family of funds....
...Several estate agents, including Countrywide, have warned the housing market is likely to slow in the second quarter of this year as uncertainty around the outcome of the referendum weighs on price growth...
...Although interest rates look set to remain low for a considerable period, keeping the servicing of debt manageable, few are running up the red flag just yet....
...Industrial earnings from manufacturing and servicing products fell by 6 per cent to 15 cents per share, hit by weak profits from oil and gas, power and transport equipment....
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