Tag:
debt
Latest Headlines
Latest Headlines
Private equity executives warn about debt levels
This seems like a "man bites dog" sort of headline: Private equity executives are warning that buyout firms are saddling their portfolio companies with too much debt.
It's ironic to say the least. Joseph Schull, European head of US private equity group Warburg Pincus, told the Financial Time
Subprime worries still haunt banks
The big worry in the debt market right now of course is the Greek tragedy that started with that country's bond ( bond market news) debacle and may soon spread to other sovereign debt. That is certainly influencing perceptions of banks right now. I doubt we'll see another bond market meltdown o
Citi to pay back TARP funds
The Bank of America ( BAC ) move to pay back its TARP obligations lit a fire under Citigroup ( C ) that has resulted in an agreement to also pay back its TARP loans--something many did not think would be possible just a few months ago. You can bet Wells Fargo ( WFC ) will be next. To pay bac
Ready for big credit card losses?
One big question about the analytical underpinnings of the stress tests: The assumed correlation between unemployment and credit card write-offs. There's no doubt there's a strong relationship. The issue is whether the slope of the line is a bit steeper in this recession, that is, will the normal
Tough times for distressed credit funds?
There was a time, not too long ago when hedge funds, private equity funds and others were scrambling to set up funds to invest in debts that were used to help finance leveraged buyouts. At the time, they were selling at significant discounts, and many thought they would inevitably soar in value. A
John Paulson wins again?
Can this man lose? In 2007, his stunning returns generated $3 billion in fees. In 2008, his group was one of the few that managed to post gains, amid the worst average performance in hedge fund history. So far this year, John Paulson still seems to be faring well. In fact, according to Bloomberg
What's next for Leon Black?
The private equity industry has been taking some hits for a year now, and none more so than Leon Black, the head of Apollo Group, which has seen deal after deal start to unravel. We've noted the problems with certain portfolio companies, notably Huntsman, Linens 'n Things, and of course Harrah's a
Bove says Citi fears are overblown
"It would take a Depression every bit as large and long as the 1930s debacle to shake this company's viability." So wrote analyst Richard Bove about Citi. He thinks the fears are overblown, even as he admits he has gotten several calls from people wondering if Citi was about to fail. There was a t
Yet another Citi hedge fund stumbles
Recall that one big issue that led to the estrangement between Citi CEO Vikram Pandit and former head of wealth management Sallie Krawcheck was how to deal with "victims" of Citi's hedge funds. Should they be made whole? It's now clear that such a move could have really been expensive. The latest:
Nervousness mounts about Invesco
Invesco is working to allay fears by Invesco bond holders, who have pushed the firm's CDS spreads higher, from about 300 to about 600 basis points. The firms has about $1.2 billion in debt outstanding. Financial News Online notes the firm has about $300 million in senior unsecured notes maturi
