Faircourt Asset Management has announced: the final terms of the distribution to its unitholders of rights (the “Rights”) exercisable for units (“Units”) of the Trust (the “Rights Offering”). Each Unit consists of one trust unit …
Search Results for: performance
July 24, 2009
Anybody want to buy a railcar leasing operation, cheap? CIT Group Inc., the commercial lender seeking to avoid collapse, may sell units that lease railcars and aircraft to raise cash, said a person with knowledge …
July 23, 2009
Very strange things happening with CIT: Even if CIT succeeds in getting 90 percent of the $1 billion of floating-rate notes due Aug. 17 swapped at a discount, the advisers will seek a so-called pre-packaged …
July 22, 2009
CIT apparently turned down GE financing: CIT Group Inc., the commercial lender seeking to avoid bankruptcy, rejected a General Electric Co. offer of at least $2 billion in senior secured loans backed by aircraft, four …
July 21, 2009
CIT has confirmed its $3-billion line from bondholders and announced a very curious tender offer: CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that …
July 20, 2009
CIT has reportedly received a $3-billion financing offer from extant bondholders: CIT Group Inc. reached a deal with bondholders for $3 billion in financing to avoid bankruptcy and restructure out of court, the Wall Street …
July 17, 2009
I have often noted on this blog that one problem with big banks is that there are too many layers of servile management between the people who really know what’s going on and the decision …
July 16, 2009
The amount of US Commercial Paper outstanding is shrinking dramatically. Bloomberg reports: For now, companies are willing to pay higher rates to ensure access to capital after watching credit dry up almost overnight as the …
July 15, 2009
Apparently there has been a “credit line run” on CIT: Regulators tried to craft a rescue package late yesterday as CIT customers, prompted by reports of possible bankruptcy, drained $750 million from credit lines on …
GPA.PR.A: Also Hit by Lear Credit Event
Global Credit Pref Corp has announced: that it received a credit event notice today from The Toronto-Dominion Bank with respect to Lear Corp. as a result of that entity failing to make the $38 million …