Bloomberg: Supervalu Sets Rate on $2.4B of Loans
Bloomberg reported that Supervalu set the rate it will pay on $2.4 billion of loans to support the sale of five supermarket chains to an investor group led by Cerberus Capital Management.
Bloomberg reported that Supervalu set the rate it will pay on $2.4 billion of loans to support the sale of five supermarket chains to an investor group led by Cerberus Capital Management.
Bloomberg said that scarred by the worst banking crisis since the Great Depression and the hubris that preceded it, bankers, investors and policy makers who gathered in Davos gave a guarded welcome to signs of recovery in the world economy.
Bloomberg reported that Federal Reserve chairman Ben S. Bernanke’s unprecedented bond buying pushed the Fed’s balance sheet to a record $3 trillion.
Bloomberg reported that Wex Inc., a provider of payment processing to the commercial and government vehicle fleet industry, increased its credit agreement with Bank of America to $1.1 billion and will now mature in January 2018.
Bloomberg reported that mortgage revenue at the four largest U.S. lenders is surpassing the costs of faulty home loans and foreclosures from the housing boom as Federal Reserve and government policies help fuel the recovery.
Bloomberg reported that New York-based Atari, a video game manufacturer, filed for bankruptcy protection. The article cited a statement that Atari and its U.S. affiliate companies are seeking approval of $5.25 million DIP financing from Tenor Capital Management.
Bombardier Recreational Products, a maker of jet skis and outboard motors, is seeking a $1.05 billion term loan to fund a dividend and refinance debt, Bloomberg reported. BRP is owned by Bain Capital.
Bloomberg is reporting that JPMorgan Chase’s board will consider releasing an internal report this week that faults CEO Jamie Dimon’s oversight of a division that lost more than $6.2 billion.
Bloomberg reported that global central bank chiefs agreed to water down and delay a planned bank liquidity rule to counter warnings that the proposal would strangle lending and stifle the economic recovery.
Bloomberg reported that U.S. Bankruptcy Judge Mary F. Walrath denied approval of THQ’s DIP loan and quick bankruptcy sale bid. Walrath said in her ruling that the quick sale did not give potential bidders enough time and that THQ did not make its pre-petition sale process public.