Archive - 2009

As the JP Morgan High Yield Conference wraps up today (at yet another boondoggle in the Loews hotel in South Beach), and CLO managers get back to their respective cubicles and start having to come up with investment ideas to justify the $500 mini bar bills, the cash loan market has been getting significantly bid up.

As the JP Morgan High Yield Conference wraps up today (at yet another boondoggle in the Loews hotel in South Beach), and CLO managers get back to their respective cubicles and start having to come up with investment ideas to justify the $500 mini bar bills, the cash loan market has been getting significantly bid up.

Apparently the latest beggar in front of Geithner's office was MEMA, the Motor & Equipment Manufacturers Association, which represents US auto suppliers who are asking for $10.5 billion in handouts (that's about a $1000 per car for 2009).

$4.78/share last. No specific reason yet aside from that it should maybe be at 0.

Just goes to show you never can win. Wells Fargo decided to cancel its Wynn Las Vegas boondoggle after someone leaked the dirty secret to the press, and now is stuck with the bill regardless.

Just goes to show you never can win. Wells Fargo decided to cancel its Wynn Las Vegas boondoggle after someone leaked the dirty secret to the press, and now is stuck with the bill regardless.

Just goes to show you never can win. Wells Fargo decided to cancel its Wynn Las Vegas boondoggle after someone leaked the dirty secret to the press, and now is stuck with the bill regardless.

Extra, Extra, Gasparino threatens to quit! Read all about it!

This exciting exchange just on CNBC:

Gasparino: Let me finish!
Melissa Francis: But you never finish!
Gasparino: Really? I could do this for some other place.... Please don't go down that road.
Bill Griffeth and MC Cabrera: [awkward laughter and shifty glances]

As populist anger spreads and "investment" banks finally realize that the president is for real on this one, financial firms are actually starting to act appropriately.

As populist anger spreads and "investment" banks finally realize that the president is for real on this one, financial firms are actually starting to act appropriately.

As populist anger spreads and "investment" banks finally realize that the president is for real on this one, financial firms are actually starting to act appropriately.

Another credit fund liquidating? BWICs are in vogue yet again (click here for what these are). The most recent one is a $254 million BWIC that has a bid submission deadline at noon on Thursday. Good mix of credits here, we list the 5 largest in declining order:

Visteon - 6/2013 Term Loan: $10 million
Zuffa - 6/2015 Term Loan: $5.9 million
Newport TV - 9/2016 Term Loan: $5.6 million
Lifepoint Hospitals - 4/2012 Term Loan B: $5.2 million

In a press release filed yesterday, another highly leveraged gaming LBO Station Casinos announced that it was pursuing a pre-packaged restructuring with its creditors.

In a press release filed yesterday, another highly leveraged gaming LBO Station Casinos announced that it was pursuing a pre-packaged restructuring with its creditors.