Foster Wheeler Debt Exchange Ends, With Majority on Board
- Premium debt swaps: the best of both worlds? Kalotay, Andrew; Abreo, Leslie // FM: The Journal of the Financial Management Association;Autumn98, Vol. 27 Issue 3, p83
In a recent transaction, a corporation offered to exchange an outstanding issue selling at a premium for a new issue of somewhat longer maturity and slightly higher market value. Why would an issuer offer such a deal? This paper examines the transaction and explains its motivation, which is...
- debt swap. // International Dictionary of Finance, 4th Edition;2003, p67
Information on the term debt swap is presented. The term is used to describe the practice begun by banks in the late 1980s of disposing of their outstanding loans to Third World borrowers, chiefly governments, at large discounts to other banks.
- Moody's: Distressed Exchanges May Have Helped Little. Rozens, Aleksandrs // High Yield Report;5/24/2010, Vol. 21 Issue 21, p8
The article focuses on a report released by rating agency Moody's Investors Service which warned that many of the nonfinancial companies that defaulted through distressed exchanges in 2009 are still at risk of another default. Moody's mentioned that it expects fewer distressed exchanges in 2010...
- debt-equity swap. // International Dictionary of Finance, 4th Edition;2003, p67
Information on the term debit-equity swap is presented. It is associated with debt swap in the financial services industry.
- Issuers Change Up Stakes With DDEs. O'Leary, Christopher // High Yield Report;4/17/2006, Vol. 17 Issue 15, p1
The article reports on the use of distressed debt exchanges (DDE) in an attempt to decrease debt dilemmas by bond issuers in the U.S. The key factor of DDE is its pressure on bondholders, which basically has a negative effect on original creditor contractual terms. Fitch Ratings Inc. director...
- MGM Begins Exchange Offer. Kellerhals, Richard // High Yield Report;8/31/2009, Vol. 20 Issue 35, p14
The article reports on an exchange offer started by the Las Vegas, Nevada casino owner MGM Mirage made to holders of 782 million U.S. dollars of its 8.5 percent senior notes due 2010. The exchange offer was up to 500 million U.S. dollars of 10 percent senior notes due 2016. September 24, 2009 is...
- U.K. Banks Face Real Estate Debt Gap. // American Banker;3/30/2010, Vol. 175 Issue 48, p8
The article reports on British banks' exposure to a debt refinancing shortfall in the real estate market that could reach $155 billion by 2012.
- Bondholders Push Back on Exchanges. M. S. // Bank Loan Report;5/11/2009, Vol. 24 Issue 19, p1
The article reports on the big losses faced by bondholders through exchange offers proposed by issuers in the U.S. Standard & Poor's Corp. reports that 28 companies have made agreements with lenders to extend payments, repurchase debt at a discount, exchange debt for stock and reissue debt at...
- Argentina's Record Debt Swap Unclogs Emerging Markets. Husband, Sarah // High Yield Report;6/18/2001, Vol. 12 Issue 24, pN.PAG
Reports on $30 billion rise in debt swap of Argentina, as of June 18, 2001. Impact of increased debt swap on other emerging markets worldwide; Reasons behind increase in debt swap; Plans of Turkey to implement similar strategies for its debt exchange, as that by Argentina.