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Debt Financing

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CALIFORNIA | LOCAL
December 27, 1990
Now that the Fed has lowered the interest rate, maybe we could refinance the national debt. HOWARD SCHIFFER Santa Barbara
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BUSINESS
February 19, 2014 | By Stuart Pfeifer
Signet Jewelers Ltd., a giant in the retail jewelry business, has agreed to acquire Zale Corp. in a deal the companies valued at $1.4 billion. Signet, which operates more than 1,400 Kay Jewelers and Jared the Galleria of Jewelry stores, will add Zale's 1,680 stores in the United States, Canada and Puerto Rico to its portfolio. Zale chief Theo Killion will continue to run the company after the acquisition, Signet Chief Executive Mike Barnes said. He will report directly to Barnes.
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BUSINESS
May 13, 2008 | From Times Wire Services
Facebook Inc. said it had taken out $100 million in debt financing and was looking for a replacement for its chief technology officer. A spokeswoman said the fast-growing social network site based in Palo Alto had taken out a $100-million lease facility from TriplePoint Capital, a specialty finance company that backs venture-funded start-ups. Facebook plans to use the funds entirely for new computers and data centers. The equipment lease financing frees Facebook of the need to raise further venture funding that would dilute existing shares.
BUSINESS
December 5, 2013 | By Stuart Pfeifer
Some investors are expecting stocks to lose ground next year, but not Joseph Baratta, who manages the private-equity business of Blackstone Group. Baratta said investors could pile up stock-market gains for two more more years, with a little help from the Federal Reserve. "The fundamentals of the U.S. economy are strong, sentiment is very positive, earnings have been growing, the Federal Reserve is quite accommodating," Baratta said in an interview with Bloomberg TV. "I think that will last as long as the Fed keeps pumping money into the credit markets.
BUSINESS
September 22, 2000 | Dow Jones
Rbid.com Inc. said Thursday it received a commitment from Marathon Inc. for $210 million of debt financing to be used exclusively for acquisitions. The Irvine developer of marketing and distribution networks said it is seeking strategic opportunities for its growth plan. Marathon is a trading and investment corporation with more than $1.3 billion in assets.
BUSINESS
January 9, 2008 | From Times Staff and Wire Reports
Calpine Corp. has received Bankruptcy Court approval of a proposed $7.6-billion debt financing as it attempts to exit Chapter 11 bankruptcy protection in the coming weeks, the San Jose-based power company said in a regulatory filing. The exit financing would replace Calpine's outstanding $5.0-billion debtor-in-possession credit facility, the company said.
ENTERTAINMENT
May 31, 2012 | By Ben Fritz
Independent studio Relativity Media has received a much-needed infusion of cash thanks to its new billionaire patron, Ron Burkle. The supermarket magnate, who acquired a large minority share in the movie company behind"Immortals"and"Mirror Mirror"in January, anchored a new $350-million debt-financing round that Relativity has finalized. The money will allow Relativity and its chief executive, Ryan Kavanaugh, to get back into producing movies and start building out the company's 2013 slate.
BUSINESS
June 7, 2001 | Dow Jones
NQL Inc., an Internet networking and consulting services company, said Wednesday that it must consider the sale of its technology unit should it not be able to improve the division's financial condition. The Santa Ana company said in a press release that it must improve the unit's cash position, establish a "significant" alliance or original equipment manufacturer arrangement, or generate sufficient revenue to support the unit's operation.
BUSINESS
May 12, 1990
Affiliated Medical Enterprises of Orange, which borrowed heavily to complete a $100-million acquisition of four hospitals in 1988, confirmed Friday that it will present creditors next week with a plan to restructure its debts. When it purchased the hospitals from American Health Group International in Kirkland, Wash., Affiliated refinanced a hospital it owned in Ojai and arranged $68 million in senior debt financing.
ENTERTAINMENT
July 1, 2013 | By Meg James
Tribune Co. has agreed to purchase 19 television stations owned by Local TV Holdings in a $2.73-billion deal that is expected to make Tribune the largest television station group in the country. Tribune and Local TV Holdings said early Monday that they had entered into a definitive agreement for Tribune to acquire all of Local TV's television stations in a cash transaction. Local TV's stations are located in 16 markets, including Denver, Salt Lake City, Cleveland and Kansas City.
BUSINESS
July 14, 2012 | By Michael Oneal and Jim Puzzanghera, Los Angeles Times
After more than 31/2 years of bitter legal conflict, the judge in Tribune Co.'s bankruptcy case said he would approve a plan to transfer ownership of the Chicago media company to a group of hedge funds and banks based in Los Angeles and New York. But in a memorandum overruling objections by junior creditors and others, U.S. Bankruptcy Judge Kevin Carey said the plan's proponents first would have to make revisions to reflect recent court rulings. A lawyer in the case said that would require the company to edit the plan and craft a new confirmation order that would be distributed to all parties for review, a process that could extend formal approval until at least late next week.
ENTERTAINMENT
May 31, 2012 | By Ben Fritz
Independent studio Relativity Media has received a much-needed infusion of cash thanks to its new billionaire patron, Ron Burkle. The supermarket magnate, who acquired a large minority share in the movie company behind"Immortals"and"Mirror Mirror"in January, anchored a new $350-million debt-financing round that Relativity has finalized. The money will allow Relativity and its chief executive, Ryan Kavanaugh, to get back into producing movies and start building out the company's 2013 slate.
OPINION
August 12, 2011 | By Charles Rappleye
With Congress and the White House stalemated over the question of debt, it may be reassuring, even instructive, to consider that our nation was embroiled in a crisis over public debt at the very dawn of its history. In fact, the primary motive that brought delegates to the Constitutional Convention of 1787 was to sort out vexing questions of debt and taxes. The debt in question was that owed by the American rebels to the governments of France and Holland, two key allies that had provided funds to support Washington's army.
BUSINESS
July 28, 2010 | By Tom Petruno, Los Angeles Times
A group of money managers within TCW Group Inc. said Tuesday that they reached a deal with the Los Angeles company to split off their $11.5-billion operation. The agreement, which had been expected, will reestablish Crescent Capital Group as a stand-alone investment firm that provides debt financing to public and private companies. Crescent was co-founded in 1991 by Mark Attanasio and two other former executives of junk bond giant Drexel Burnham Lambert, which filed for bankruptcy protection in 1990.
BUSINESS
April 29, 2010 | By Walter Hamilton, Los Angeles Times
Buyouts are back. A panel of private equity fund managers at the Milken Institute Global Conference in Beverly Hills this week celebrated the comeback of highly leveraged corporate takeovers, which had ground almost to a halt during the financial crisis. "What a difference a year makes," said Leon Black, head of Apollo Management in New York. Black and the other buyout honchos attributed the return of debt-financed acquisitions to the recovery in the credit markets and the overall economy.
BUSINESS
February 22, 2010 | By Karen K. Klein
Dear Karen: When financing my business, how do I decide when to get bank loans and other debt financing and when to seek equity from outside investors? Answer : Equity financing involves obtaining funds from outside investors in exchange for an ownership interest in your firm. It is typically used to fund operations during start-up and to attract and retain key employees, said Bob Gellman, director of the CBIZ MHM accounting and consulting firm in San Diego. While equity usually provides money for long-term expenditures, "debt is usually incurred to cover shorter-term operating needs, such as a line of credit to smooth out cash flows or a term note to cover asset acquisitions," Gellman said.
BUSINESS
February 22, 2010 | By Karen K. Klein
Dear Karen: When financing my business, how do I decide when to get bank loans and other debt financing and when to seek equity from outside investors? Answer : Equity financing involves obtaining funds from outside investors in exchange for an ownership interest in your firm. It is typically used to fund operations during start-up and to attract and retain key employees, said Bob Gellman, director of the CBIZ MHM accounting and consulting firm in San Diego. While equity usually provides money for long-term expenditures, "debt is usually incurred to cover shorter-term operating needs, such as a line of credit to smooth out cash flows or a term note to cover asset acquisitions," Gellman said.
BUSINESS
March 6, 2009 | Bloomberg News
CBS Corp. may face an $893-million funding gap for bonds maturing next year even after slashing its dividend 81% to save cash, a Barclays Capital credit analyst said. CBS may have to sell new debt to help pay off $1.4 billion of bonds due in July 2010, Scott Shiffman wrote in a note to clients. The company may be less likely to draw on its $3-billion revolving credit facility, which will probably have to be replaced before it expires at the end of 2010, he said.
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