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HNA's Record Bond Rally Has ANZ Saying ‘Sell’

HNA Group Co.’s bonds are rebounding as the Chinese conglomerate steps up asset sales. But its debt remains large despite efforts to pay it down, prompting some observers to recommend selling the notes. HNA and its subsidiaries face record bond repayment ...

Daily Headline - global.abi.org - 04/26/2018 - 01:05 - 0 comments

Major Noble Group Shareholder Sues to Block Restructuring

One of Noble Group’s largest shareholders is suing the troubled commodity trader in a last-ditch bid to stop its chairman pushing through a controversial restructuring, the Financial Times reported. Abu Dhabi-based Goldilocks Investment, which took a ...

Daily Headline - global.abi.org - 04/26/2018 - 01:06 - 0 comments

Bankruptcies Are Booming in India, But Where Are the Judges?

India’s revamped bankruptcy process is in full swing and investors from Blackstone Group LP to Oaktree Capital Group LLC are salivating over an estimated $210 billion of stressed assets that are up for grabs, Bloomberg News reported. But the courtrooms h ...

Daily Headline - global.abi.org - 04/25/2018 - 00:38 - 0 comments

Debt, Debt and More Debt: What to Watch for in HNA’s Results

How bad would liquidity have to get for one of China’s largest companies to dump about $13 billion in assets in less than four months? Investors may find out and get a sense of whether the disposals are enough when debt-laden HNA Group Co., the once-high ...

Daily Headline - global.abi.org - 04/25/2018 - 00:39 - 0 comments

Turkey’s Corporate Debt Burden Sparks Jitters on Economy

Dogus, one of Turkey’s biggest companies, has neither denied nor confirmed widespread reports that it is restructuring its debt, the Financial Times reported. But economists and analysts fear the company could be a canary in the coal mine for Turkey’ ...

Daily Headline - global.abi.org - 04/25/2018 - 00:39 - 0 comments

Pumpkin Carriage Drives Japan Bank From Star Status to ‘Pariah’

It wasn’t so long ago that Suruga Bank Ltd. was seen as a model for how Japanese lenders can survive in an era of rock-bottom interest rates and weak loan demand. The regional bank was hailed for generating the best loan margins in the country, thanks to ...

Daily Headline - global.abi.org - 04/23/2018 - 22:13 - 0 comments

Insolvency: JSW Writes to CoC on Inviting Fresh Bids for Essar Steel

Sajjan Jindal-controlled JSW Steel has written to the committee of creditors (CoC) of Essar Steel on inviting fresh bids for the bankrupt firm, Business Standard reported. This has come ahead of the meeting of the CoC on Tuesday. About a month ago, J ...

Daily Headline - global.abi.org - 04/23/2018 - 22:15 - 0 comments

Japanese Equity Funds Suffer Worst Outflow in 17 Years

Japanese equity funds posted their biggest net outflow since 2001 as investors regained their taste for risk assets in the past week and directed cash to emerging market equities and junk bonds, the Financial Times reported. The moves come as fears o ...

Daily Headline - global.abi.org - 04/22/2018 - 23:19 - 0 comments

Noble Group Amends Restructuring Plan as it Races to Get Shareholder Support

Bowing to criticism from the Singapore Exchange and other investors, embattled Noble Group is removing a provision in its $3.4 billion debt restructuring proposal that penalized shareholders voting ... provision in its $3.4 billion debt restructuring proposal that penalized shareholders voting against the ...

Daily Headline - global.abi.org - 04/20/2018 - 00:10 - 0 comments

An India Bad-Loan Tragedy Turns Bankruptcy Farce

Want to screw up a good law? Just try to make it a great one. That's what India did last November when it added a number of restrictions on who could bid for assets in a bankruptcy. The idea of the new regulations was to make it hard for errant owne ...

Daily Headline - global.abi.org - 04/20/2018 - 00:11 - 0 comments

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