Tag:
Junk Bonds
Latest Headlines
Latest Headlines
KKR takes a bow toward Forstmann Little
In his prime, Teddy Forstmann was a force in the private equity industry. But he was always overshadowed a bit by his archrival Henry Kravis, who is still going strong while Forstmann retired from the private equity ( private equity news) world in 2004. Their most famous duel was chronicled i
Securitization of delinquent loans heats up
In the immediate aftermath of the credit crunch, some commentators were more than willing to lump the whole idea of securitization in with other Wall Street woes. That was always a bit naive. But some may detect some irony now that securitized deals may come to the rescue of one section of the non
High yield market spooked
The credit markets are spooked by the Greece debacle. The high-yield markets are feeling the effects. In the past month, a massive sell-off has hit the U.S. junk bonds market, reports the Financial Times . Spreads have widened and may go even wider, as sovereign woes deepen. Article
(C
A cruel rally in junk bonds
Bloomberg notes that a strong rally in high-yield bonds has cursed many ailing companies that were hoping to buy back debt or exchange them for other bonds. To cut their debt burdens, lots of companies were taking advantage of severely discounted prices. Now that opportunity seems to be slippi
ALSO NOTED: Lehman trims estimates for Goldman Sachs, Morgan Stanley; Bank of America sells $2.7 billion in securities; and muc
Company News: > Bear Stearns memorabilia goes on sale internally. Article > Sovereign closes $1.9 billion in stock and bonds. Article > Lehman trims estimates for Goldman Sachs, Morgan Stanley. Article > Bank of America spends more than $1 million lobbying in the f
The past, present and future of junk bonds
There's been a good deal of debate about the role of junk bonds in the ongoing credit crunch. Martin Lipton says the junk bond is the fount of it all. A Financial Times columnist weighs in, seeming to agree more with Lipton. One of his points is that we still do not know whether the high-
Battle of legends: Milken vs. Lipton
Martin Lipton, the legendary lawyer, says the financial crisis stems from the invention of the junk bond so many years ago. As the New York Times notes, Michael Milken begs to differ. He tells the paper that junk bonds--as well as all the CDOs that invested in them--have precious little in co
How much private equity blood will spill?
Blackstone Group's 90 percent plunge in first quarter profits sent another shudder down the spine of the private equity industry. The Carlyle Group's credit fund woes certainly aren't helping things, either. The New York Times suggests that all the top funds are reeling. This brings up the Fre
