Hints and tips:
...Dechert has hired Brian Miner as a partner in its corporate and securities practice group. He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...The Securities and Exchange Commission recommended in 2021 letting more US investors into venture capital and buyouts....
...The private debt placements do not require registration with the US Securities and Exchange Commission....
...Wood’s eight-year-old investment management firm is named after the Ark of the Covenant – the chest said to have held the Ten Commandments – which was taken by the Israelites into battle....
...It also provides another shot at redemption for chief executive Larry Culp, who has dealt with a leadership shake-up, dividend cuts and a US Securities and Exchange Commission investigation since he took...
...According to the Securities and Exchange Commission, before 2018, Robinhood didn’t disclose on its website about how it was making money from deals with high-speed trading groups such as Citadel Securities...
...In Ireland, there is Merx Aviation, which provides finance leases for aircraft....
...“It became obvious it wasn’t enough and AMC was just bleeding money because obviously no one was going to movie theatres,” said Bert Choe, an analyst at Covenant Review....
...Efforts to stem the spread of coronavirus have left the aviation industry facing the worst crisis in its history....
...The aviation market is expected to shrink substantially following the Covid-19 crisis and passenger numbers are not expected to recover to 2019 levels for years....
...Other, more stressed, companies drew on their lines in anticipation of falling foul of covenants, which would allow lenders to cut off cash....
...Covenants: in a base case -20% scenario there is a risk of a covenant breach....
...Causeway Capital Management LLC, the LA hedge fund, has declared 4.88 per cent of Micro Focus....
...In the meantime, we suspect Ted needs to reset banking covenants, which is likely to be in process currently....
...The drop in values resulted in a breach of the owner’s debt covenants. Goldman Sachs had issued a commercial mortgage-backed security against the three properties last summer....
...In the era of little covenant protection and aggressive financial engineering, loan and bondholders see the Chapter 11 process as the chance to settle scores....
...The aviation-to-finance group is trying to buttress its balance sheet as $20bn of its US dollar-denominated debts mature this year and next....
...Holders of the Swiss aviation company’s bonds have taken fright this week after it rolled over a €400m 90-day loan to an affiliate of HNA that was originally due to expire in November....
...Because they are not debt, preferreds can miss payments without triggering default covenants. Markets, however, do not respond well to such suspensions....
...Hellman & Friedman’s attempt to strip a €1bn dividend out of a Swedish security alarms business is proving a test case of just how far private equity firms can push debt investors, as it asks bondholders...
...An investor who owns Verisure’s secured bonds said that the different treatment of the two securities was striking....
...In the aerospace unit, Honeywell’s biggest, the commercial aviation after-sales business benefited from robust air travel and the growth in US military spending....
...Communications Construction, China Railway Construction, Power Construction Corp of China, Shimao Property, Metallurgical Corp of China, Bank of China Aviation, and China Eastern Airlines....
...Analysts say the increased investment in Brazil began around 2010 as part of a state-led directive to increase China’s food and energy security through overseas acquisitions....
...Analysts with S&P said that given Valeant’s delay in filing its annual report with US securities regulators, the group was likely to be in breach of its reporting covenants, US capital markets correspondent...
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