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BUSINESS
July 21, 2011
Banks pledged to participate in a bond exchange and debt buyback program as part of a new rescue package for Greece, as European leaders sought to halt the spread of the region's sovereign debt crisis. The banks' participation will provide financing of 54 billion euros ($77.6 billion) to Greece from mid-2011 to mid- 2014, building to a total of 135 billion euros through the end of 2020, the Institute of International Finance said in a statement. The plan followed weeks of discussions among banking officials in Rome, Paris and Berlin as well as meetings with European Union leaders during the emergency summit in Brussels yesterday.
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BUSINESS
July 21, 2011
Banks pledged to participate in a bond exchange and debt buyback program as part of a new rescue package for Greece, as European leaders sought to halt the spread of the region's sovereign debt crisis. The banks' participation will provide financing of 54 billion euros ($77.6 billion) to Greece from mid-2011 to mid- 2014, building to a total of 135 billion euros through the end of 2020, the Institute of International Finance said in a statement. The plan followed weeks of discussions among banking officials in Rome, Paris and Berlin as well as meetings with European Union leaders during the emergency summit in Brussels yesterday.
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BUSINESS
December 24, 1991 | ALAN CITRON, TIMES STAFF WRITER
Blaming declining interest rates, Walt Disney Co. announced Monday that it has withdrawn plans for an innovative--and controversial--bond offering tied to the performance of its television shows. The Burbank-based company had hoped to raise $220 million for TV production from the $420-million offering of 15-year zero coupon bonds knows as ZEBRAS. The offering had a guaranteed yield of 4% but held the promise of up to a 20% return if Disney shows were sold into syndication.
BUSINESS
September 16, 1997 | HOPE HAMASHIGE, Hope Hamashige is a regular contributor to The Times
Feeling antsy about the stock market? In uncertain times, zero-coupon bonds--which guarantee a rate of return for investors' principal and in effect for reinvested interest earned over a long period--could be just the ticket. Bonds in general make sense if you can't take the risks of the stock market or simply believe that stocks can't keep rising in value as they have in recent years. Of course, to buy bonds you also have to believe that inflation will stay subdued.
BUSINESS
September 16, 1997 | HOPE HAMASHIGE, Hope Hamashige is a regular contributor to The Times
Feeling antsy about the stock market? In uncertain times, zero-coupon bonds--which guarantee a rate of return for investors' principal and in effect for reinvested interest earned over a long period--could be just the ticket. Bonds in general make sense if you can't take the risks of the stock market or simply believe that stocks can't keep rising in value as they have in recent years. Of course, to buy bonds you also have to believe that inflation will stay subdued.
BUSINESS
July 28, 1994 | Times Staff and Wire Services
Strong demand from individual investors helped the cash-short state of California sell $3 billion in 11-month revenue anticipation notes with relative ease Wednesday. The fixed-rate portion of the notes, or RANs, was originally priced to yield 4.2% annualized. But heavy demand allowed the deal manager, Bank of America, to set the final yield at 4.1%. Still, the cost to the state is high, reflecting its ongoing budget problems: Other, fiscally healthier states would pay as little as 3.
BUSINESS
March 11, 1993 | TOM PETRUNO, TIMES STAFF WRITER
California will let small investors buy low-priced tax-exempt state bonds basically over the phone, under a plan announced Wednesday by Treasurer Kathleen Brown. Through the new CalBond Tax-Free Fund, investors can buy "shares" in pools of state general obligation bonds that will be offered for sale on March 31. Minimum investment: $250. The bonds will be "zero-coupon" securities, meaning all interest earned is paid when the bonds mature, in eight, 10, 12, 15 or 18 years.
BUSINESS
December 8, 1993
AST Research Inc. will use $97.5 million raised through the sale of securities for working capital, to pay off bank debt and for new product development, the company said Tuesday. In a press release, the Irvine company said it had sold zero-coupon subordinated securities with a principal amount at maturity of $275 million. The securities carry a 5.25% yield to maturity and are due Dec. 14, 2013. AST recently reported record sales of $1.4 billion for the fiscal year ended July 3.
BUSINESS
January 12, 1987 | Associated Press
E. F. Hutton Group said Friday that it intends to sell its insurance group for $300 million in cash to First Capital Holdings Corp., a financial services concern based in Los Angeles. But the company said that while the sale could boost its 1987 results, it expects to post "a substantial loss" for 1986 because it established a special reserve of about $130 million in the fourth quarter for reasons unrelated to the insurance unit sale. Hutton said it had signed a letter of intent to sell its E.
BUSINESS
April 14, 2000 | From Reuters
General Electric Co., the diversified conglomerate whose businesses range from lightbulbs to broadcasting, said Thursday that its first-quarter profit rose 20%, driven by an increasing focus on product services and "e-business" initiatives, surpassing Wall Street forecasts. GE said earnings increased to $2.59 billion, or 78 cents a share, from the year-earlier $2.16 billion, or 65 cents.
BUSINESS
December 24, 1991 | ALAN CITRON, TIMES STAFF WRITER
Blaming declining interest rates, Walt Disney Co. announced Monday that it has withdrawn plans for an innovative--and controversial--bond offering tied to the performance of its television shows. The Burbank-based company had hoped to raise $220 million for TV production from the $420-million offering of 15-year zero coupon bonds knows as ZEBRAS. The offering had a guaranteed yield of 4% but held the promise of up to a 20% return if Disney shows were sold into syndication.
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