The GBP875,000 loan extended by property and technology entrepreneur Andrew Ruhan to his brother Gabriel, who runs Strategic Natural Resources, was intended to pay off creditors.
Mezzanine Debt
BlackBerry extends option deadline of its $1 billion convertible debt offering
BlackBerry Ltd released a brief statement late Thursday that it has extended its deadline for debtholders who would like to purchase additional shares to January 13 next year.
Private equity-backed Berry Plastics Group looks to refinance debt
A Bloomberg report said Berry Plastics Group Inc is seeking to refinance its debt, offering to pay 2.75 to 3 percentage points more than the London interbank offered rate.
Freedom Group to raise $175 million from Wall Street lenders
American firearms maker Freedom Group plans to raise $175 million from Wall Street financial institutions, according to a Reuters report. Cerberus Capital Management, which tried to exit the company last year, earlier opted for a $200 million mezzanine debt to pay off Freedom Group's investors.
Florida Democrat, others duped in securities-backed loan scheme
Head William Dean Chapman Reston of Virginia-based firm Alexander Capital Markets was found guilty of defrauding its investors including US Representative Alan Grayson of more than USD35 million in a loan scheme, Reuters said in a report.
Latest News
Lawmakers of the Sejm or the Polish Lower House of Parliament approved changes in the country's pension system to takeover government bonds currently held by 14 privately-run pension funds.
Paul Kazarian, founder of Japonica Partners & Co and known for his purchase of Greek bonds, told Bloomberg in an interview that Greece needs to adopt corporate accounting practices if it is to return to the debt markets.
The JPY18.6 trillion or USD182 billion economic plan for Japan was approved by the state's cabinet under Prime Minister Shinzo Abe. The core of the package is the JPY5.5 trillion in spending measures Abe ordered back in October this year.
A USD 4.5 million credit facility was granted to Chicago-based online provider for in-home care Sittercity by Square 1 Bank, a bank that exclusively caters to the needs of entrepreneurs and the venture capital community.
Analysts thought that ThyssenKrupp latest fundraising efforts, which was a USD1.2 billion share sale, was not enough to turn the company around from its dire financial straits.
Illinois intends to sell USD350 million in general obligation bonds in a sale initially slated on December 12. Illinois legislators are set to vote on a pension reform bill that could save the state around USD160 billion in 30 years.
Switzerland bank UBS AG launched its EUR1.75 billion or USD2.4 billion bond buyback program, which will be applicable to subordinate and senior unsecured bonds in several European currencies.
The Monetary Board of the Bangko Sentral ng Pilipinas has cleared the USD500 million loan from the Asian Development Bank. The said fund will be used to rehabilitate and reconstruct communities struck by super typhoon Haiyan.
A report by Agence France-Presse (AFP)recounted the difficulties of curbing the links between corporate Japan and the yakuza, and how some of the country's major banks adopted a laissez-faire compliance in eradicating mob ties.
