The Deal
Saturday, November 21, 
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Entries tagged "financing"

Opti Canada secures financing

Oil company Opti Canada has secured $425 million in financing, which it hopes will carry it through its strategic review.


Video: DLA Piper's Califano on busted deals

Thomas Califano of DLA Piper and Mark Thomas of Winston & Strawn explain some of the more recent cases where strategics have attempted to walk away from distressed deals.


Video: Bayside's Kosch on DIP priming fights

There won't be a lot of DIP priming fights this year, according to Tiffany Kosch of Bayside Capital and David Gozdecki of GE Commercial Finance-National Restructuring Practice.


Inside The Deal: Grant Thornton's Beecy on cross-border M&A

Paul Beecy, a tax partner at Grant Thornton LLP, was a speaker on a cross-border deal panel at The Deal's M&A Outlook 2009 conference. In this edition of Inside The Deal, Beecy speaks with The Deal's Suzanne Stevens on inbound investments and creative deal structures due to a lack of financing. See video after the break. ...


Inside The Deal: Debevoise & Plimpton's Paul Bird on MAC clauses

Material adverse change clauses are nothing new, but with the credit and stock markets in turmoil, it seems like they are showing up in more and more deals. This year, claims of material adverse change have forced the renegotiation of Home Depot Inc.'s sale of its HD Supply business and the take-private of Clear Channel Communications Inc., and reared up in Hexion Specialty Chemicals Inc.'s pending acquisition of Huntsman Corp. In this edition of Inside The Deal, Suzanne Stevens talks to Paul Bird, who co-chairs the M&A group at Debevoise & Plimpton LLP, about how MAC clauses might affect...


Banks face higher costs in refinancing their long term debt

There's more bad news on the horizon for U.S. banks that will need to refinance more than $200 billion of their own maturing debt over the next few months at increasingly higher costs....


Morgan Stanley, Goldman link lending to their own creditworthiness

Seeking to protect themselves against the loss of financing that brought down Bear Sterns, investment banks Morgan Stanley and Goldman Sachs & Co. are linking their lending commitments to hedge funds directly to their own creditworthiness. ...


Rabble Babble: This Bud's for InBev?

Belgian brewer InBev SA made a $46 billion all-cash offer for Anheuser-Busch Cos. Wednesday. Since then, stock is up over $3.00 to around $61.50, and the chatter is rising too. So what's next for the great American beer company? ...


Reed staples finance to sale

In order to sell trade magazine publisher Reed Business Information as one entity, Reed Elsevier plc is organizing banks to loan a potential buyer around $1.5 billion, the Telegraph is reporting. Investment banks expected to provide stapled finance include: UBS, BNP Paribas SA, J.P. Morgan Chase & Co., GE Capital, Bank of Ireland Group and Lloyds TSB. ...


Merrill Lynch plays supporting role in 'Iron Man'

The movie "Iron Man" debuts May 2 with some big Hollywood names. Robert Downey Jr. plays millionaire Tony Stark turned superhero with Gwyneth Paltrow by his side, and the film is directed by John Favreau, but the real star of the movie may be investment bank Merrill Lynch & Co., which provided financing for the project. ...


CIT sells $1.5B in stock offering

CIT Group Inc. on Tuesday said it had sold $1.5 billion of common stock and convertible preferred shares with a a liquidation preference of $50 per convertible share, after setting an initial $1 billion target Monday after market close....


Altaris Capital's Michael Kluger on healthcare financing innovations

Michael J. Kluger, a managing director at Altaris Capital Partners LLC, spoke about the middle market at The Deal's Healthcare Dealmaking Symposium. In a panel discussion, Kluger discussed the ways new innovations in financing midmarket healthcare deals have allowed M&A activity in that sector to continue thriving. - George White  ...



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Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.


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Managing your shareholder base

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.



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