by Amruth Sundarkumar | Sep 9, 2022 | Banks, Global
Citigroup won its appeal in a US court that ruled in favor of the bank to recover ~$500mn of its funds that it erroneously wired to Revlon’s lenders. The court said that the lenders were not entitled to the repayment, and were on notice that the fund transfer...
by Amruth Sundarkumar | Sep 7, 2022 | Corporates, Global
SoftBank is on track to complete a deal to sell its Fortress Investment stake to Mubadala at more than $2bn valuation. As per sources Rajeev Misra, the key person at SoftBank Investment Advisers and formerly a partner at Fortress, is coordinating the deal with a...
by Amruth Sundarkumar | Sep 6, 2022 | Corporates, Global
UK-based car maker Aston Martin is set to raise £575.8mn ($660mn) via a rights issue. Saudi’s wealth fund i.e., the PIF and other major investors have supported the issue. The rights issue will be done at a 4:1 ratio (four shares for each existing stock) at 103...
by Amruth Sundarkumar | Sep 5, 2022 | Banks, Global
Swiss banking major UBS Group and US-based Robo-adviser Wealthfront have mutually terminated a $1.4bn deal which was expected to go through by 2H 2022. Earlier this year, UBS Americas announced that it would acquire Wealthfront in an all-cash transaction to expand...
by Amruth Sundarkumar | Sep 5, 2022 | Corporates, Global
French container transport and shipping company CMA CGM is launching a $1.5bn five-year investment fund to speed up its energy transition in shipping and logistics. The energy fund will aim to support the industrial production of new fuels and low-emission transport...
by Amruth Sundarkumar | Sep 2, 2022 | Corporates, Credit Ratings, Global
US retailer Bed Bath & Beyond’s (BBBY) senior unsecured bonds were downgraded to CCC- from CCC by S&P. The rating agency left the issuer-level rating unchanged at CCC, having only recently downgraded the company. BBBY issued a new first-in-last-out...
