The transfer of funds exempted Laiki Bank UK from Cyprus Bailout. The United Kingdom branch of the Laiki Bank has evaded the so-called 'haircut' of depositors in the beleaguered Cypriot bank.
Sectors
SinoPac To Sell 20% of Banking Unit to ICBC
ICBC would be the first Chinese bank to invest in a Taiwanese Bank, SinoPac. SinoPac Financial Holdings Co. Ltd of Taiwan would be selling off a 20% share of its banking unit.
Buyout of Elior Prompts Use of Covenant Lite Financing
Elior buyout financing options are attracting buyout firms and more creative financing. Banks are being asked to provide its very first pure covenant lite debt package from Europe in order to support a buyout of Elior, the French catering firm.
MTO Logistica Multimodal SA is investing in Brazil's Cargo
The Gradin family is investing in Brazil's cargo market through MTO Logistica Multimodal SA. MTO Logistica Multimodal SA is putting up 330 million reais or US$163 million into a logistics platform to transport cargo between Brazil's largest cities.
Statoil sells part of Mozambique share to Inpex
Inpex of Japan is the new partner of Statoil SA in the development of the Rovumba basin oil well in Mozambique.
Latest News
A US$50 million sukuk bond issue would be undertaken by the Sharjah Islamic Bank. The lending institution partly owned by the UAE emirate of Sharjah, the Sharjah Islamic Bank is now in the process of preparing for a dollar denominated Islamic bond or sukuk.
The MAS capital infusion of US$20 million would result in the merger of Attune Consulting and Sabre Technologies.
The Swiss bank Julius Baer would boost businesses in South America and Monaco through transfers of former Merrill Lynch businesses.
According to the Apple Daily, the Liu family owned Chong Hing Bank would be up for sale. The Hong Kong lending institution Chong Hing Bank Ltd share values reached a two year high after a reported signal from shareholders that the Liu family was ready to sell their interest.
Liberty Harbor Capital LLC is a Goldman Sachs subsidiary that would fund middle market firms with weak credit ratings.
Blackstone to pay off debts to recapitalize Multi Corp, the European real estate company. The real estate unit of Blackstone Group LP may wrest control of Multi Corp after its acquisitionof almost half of the corporate debt of the cash strapped shopping mall developer.
Three major Chinese firms to issue yuan denominated debt instruments. Three major Chinese corporations are now in the process of selling bonds that are yuan denominated.
Jazztel's increasing growth in the Spanish market is making it very attractive for major telecommunications companies.
Patinack Farm, the renowned racehorse breeding farm owned by Nathan Tinkler, is now on the auction block to help pay off debts.
