Hints and tips:
...Triple-B [the lowest rung of IG] spreads are at about 120bp, whereas double-B high-yield is at 200bp. So you pick up 80bp from going from triple-B to double-B....
...We’re assuming (b) ended up winning there....
...Banks underwriting $3.7bn of loans and bonds to fund the buyout of healthcare company Syneos Health by Elliott Management, Veritas Capital and Patient Square Capital, also received strong demand....
...In another reported exchange, Forlano replied that “Rigatoni”, a nickname for Viggiano, “literally works for” Blackstone, and Bleckley responded, “F[**]k u should’ve told me f[**]k the feds.”...
...More than half of single-B minus rated US companies would not be generating enough cash to cover their capital expenditure while servicing their debt by year-end, analysts at Moody’s project....
...Class B and D stock, which is nearly all owned by Refinitiv and its affiliates, receives 10 votes per share....
...featured guests ranging from former US president Bill Clinton and ex-prime minister of the U.K....
...S&P has rated the bonds single-B minus, among the riskiest ratings it assigns....
...--(BUSINESS WIRE)-- Silvergate Capital Corporation (“Silvergate” or “Company”) (NYSE:SI), the holding company for Silvergate Bank (“Bank”), today announced its intent to wind down operations and voluntarily...
...The plaintiff was Cassie, the R&B singer, who alleged that Combs had raped her, beaten her and blown up a romantic rival’s car. Combs denied the allegations....
...The reason that’s bad is because a) it doesn’t usually work, and b) it just invites retaliation....
...“We’re worried about deteriorating macro conditions, and that’s traditionally not the time when investors deploy a lot of capital into the single-B [corporate debt rating] risk.”...
...When banks were racing to lend to companies and private equity firms at the start of the year, a US business with a lowly single B debt rating could expect an interest rate of roughly 4.74 per cent....
...The loan is secured on a) his equity in the fund b) a bunch of SoftBank shares and c) his personal wealth....
...“The biggest problem with these unprecedented and sustained government and central bank interventions is that risks to capital become masked even as they mount,” he said....
...And finally If you’re in New York this week, a) come and say hello at our asset management conference (details below), and b) pop into the Whitney Museum of American Art to see this exhibition of works...
...The ex-KKR dealmaker waging a campaign on a K-Pop machine Activists have historically held little sway in South Korea....
...But two prominent potential bidders, private equity groups Bain Capital and CVC Capital Partners, dropped out of the process in its early stages....
...b. Line of Credit: On multiple occasions, Bankman-Fried directed FTX to increase the amount by which Alameda could maintain a negative balance in its account....
...It told investors in March it had raised $12.7bn for its newest venture capital fund, the largest of its kind....
...Tiger led the $1.8bn Series B funding round backed by about 30 investors....
...That will drag down the overall issuer rating to a B level. Analysts at the research group Covenant Review also highlighted some weak investor protections in the deal documents....
...Square, which is founded by crypto-Rasputin Jack Dorsey, has invested $220m in bitcoin according its latest 10-K....
...Which, as you might imagine from its coincidental timing with news of the capital raise, contained some slightly more negative news....
...South Korea, meanwhile, has a Korean New Deal, or “K-New Deal” backed by a US$135bn investment programme that includes measures to create 659,000 new green jobs by 2025....
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