Archive for debt

Investec strengthens balance sheet with £86m share placing

Just four days after boasting of a “sound balance sheet” and “strong liquidity position” Investec has tapped shareholders for £86m to repurchase debt.

Moody’s cuts rating on 33bn of risky loan products

One of the main creditrating agencies which was accused of failing to warn investors of the credit crisis has downgraded 33bn £20bn of risky loan products.

EMI hires banks for bond issue

Three banks have been brought on board by Terra Firma which is looking to issue highyield bonds to repay Citigroup’s £2.6bn of loans to the private equitycompany’s EMI music group.

Cattles given six months’ grace on debts

Cattles the ailing subprime lender has been given six months’ breathing space to restructure after missing a deadline to repay £500m of debt.

Pound at risk from state of UK public finances says UBS

The pound is a riskier investment than its current value against the dollar and euro reflects because of the state of Britain’s public finances according to Swiss bank UBS.

Russian banks need up to 60bn fresh capital warns Fitch

Russian banks may need to raise 60bn £36bn in fresh capital if the recession drags on and energy prices wilt again according to a report by Fitch Ratings.