Debt

Mahindra Satyam Gets New CEO

Tech Mahindra Manages $200 million For Investing In Startups Across The Globe

World Economic Forum (WEF) meeting is the perfect place to represent future business plans. Tech Mahindra, an Indian IT service provider, has been seeking opportunity to invest in startups since long. Finally, the Indian IT giant has chosen the meeting to elaborate its economic strength, technical know -how and keenness to portray itself as a potential startup investor.

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UK Student In Custody On Drug Smuggling Charges

Citigroup cancels airline credit facility

After the cancellation of short-term credit facility from Citigroup, South African Airways is in the process of getting guarantee support from the government. South African Airways has had seven CEOs during the past three years. The National Treasury is exploring ways to restore financial support to the airline and will restructure the board as well.

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Mining

Glencore to complete 2 deals to slash down debt

Suffering from weakening global commodities for the past one year, Glencore has informed its investors about its plans to reduce debt by $10billion. Towards this debt reduction target, Glencore is planning to conclude two deals by the end of this year or early of next year. The Anglo-Swiss multinational commodities major has been facing rough conditions in the market.

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Gold

Barrick Gold Corp buys back part of outstanding debt

As part of its debt reduction exercise, the world's largest bullion producer Barrick Gold Corp has offered to buy back some part of its outstanding debt. Despite the drop in gold prices, The Toronto-based Barrick Gold Corp has been selling assets.

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Caparo T1

Formula One Teams Burn up $300 Million of Debt, 64.2% from Lotus

The ten teams in Formula One auto racing are under a total debt of $318.2 million, and 64.2% of that belongs to Lotus. Lotus belongs to Genii Capital, a private equity firm founded by Skype investor Gerard Lopez. Creditors have been going after Lotus for the last several months. Its cars were almost impounded during the Belgian Grand Prix last weekend after former reserve driver Charles Pic filed a legal dispute.

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Ukraine

Crimeans should pay back loans to Ukrainian banks: Russia

Crimeans should pay off their debts to Ukrainian banks despite now living under Russian law, a Russian central bank official was quoted as saying, marking a change in position by Moscow which had suggested ignoring any payment demands.

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Russia's President Vladimir Putin (L) shakes hands with Ukraine's President Petro Poroshenko

Putin says Russia won't demand early repayment of $3 billion lent to Ukraine

Russia does not intend to demand early repayment of $3 billion which it lent to Ukraine last year, President Vladimir Putin said in an interview with German TV channel ARD, a transcript of which was released by the Kremlin on Saturday.

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Student loan debt

U.S. student debt burden falling more on top earners, easing bubble fears

Young Americans with big college debts are often portrayed as struggling to pay their bills. The reality is somewhat different - those owing super-sized student loans tend to be higher paid.

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Viktor Yanukovich and Vladimir Putin

As Ukraine's debt tangle unwinds, Russia holds key thread

A selloff on Ukraine's dollar debt is focusing attention on a controversial $3 billion bond held by Russia, raising investor concerns that President Vladimir Putin could use the issue to trigger a cascade of defaults across Kiev's sovereign Eurobonds.

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OneRoofEnergy

OneRoofEnergy raises additional $1 million via loan funding

OneRoofEnergy has made an announcement about funding it has received from an existing shareholder. The company, which is known for its SolarSelect program, acknowledged receipt...

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European Union

Djibouti receives $11 million grant from the European Union

Djibouti has received $11 million grant from the European Union to help the country in looking for ways to solve the current problem in potable water and its scarcity of supply.

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LendUp

San Francisco payday loan firm LendUp raises $50M in debt funding

San Francisco, US-based payday loan firm LendUp raised $50 million in debt funding from Victory Park Capital to provide small short-term loans for American consumers who have poor or no credit and expand to other states.

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Rockland Capital

GE Financial Services funds Rockland's acquisition of Elgin Energy Center in Illinois

GE Financial Services is lending $50 million to investment company Rockland Capital LLC to be used for the latter's acquisition of power generation facility Elgin Energy Center in Illinois, US.

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Dropbox

Dropbox raises $500M in debt funding

San Francisco, US-based cloud storage giant Dropbox has raised $500 million in a debt funding reportedly led by JP Morgan for the construction of its new data centers, according to a source familiar with the situation.

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SOA Software

SOA Software gets $10M in venture debt financing from Wellington Financial

Wellington Financial has provided debt financing to the tune of $10 million to SOA Software, a maker of API Management and SOA Governance products, a statement about the funding said.

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