atans1

Posts Tagged ‘junk bonds’

Two S’pore buy-outs in trouble?

In Property on 26/07/2012 at 12:44 pm

Buy-out companies are tapping non-traditional funding avenues to overcome difficult IPO and bank loans markets? TPG Capital, which has around US$52bn in assets under management globally, is considering an expensive high-yield bond for precision engineering firm United Test & Assembly Centre. TPG had in June 2011 looked at an S$500m IPO.

KKR, which has around US$62bn in assets under management globally, became the first private equity fund to use a high-yield bond to refinance a buyout loan in Asia when it took out a US$300m  five-year bond for Singapore technology company MMI International, in February this yr. KKR had in March 2011 looked at an IPO exit for MMI worth S$1bn (then US$785.7m).

In April, it spun that it was planning an IPO for MMI worth  raise between US$400m to US$500m. The IPO was expected to take place in the third quarter. More.

Given market conditions, not likely.

MU: Mgt “clarifies”finances but bond investors are sceptical

In Uncategorized on 07/02/2010 at 5:40 am

The CEO  stressed that United’s debts of £500m are a “misconception” because the club has about £140m in cash available, over half of which was generated by Cristiano Ronaldo’s world record £80m transfer from United to Real Madrid last summer.

And he confirmed manager Sir Alex Ferguson can spend all £80m on new players, should he wish to expand the squad.

Article

Err but how come the price of the junk bonds that MU issued recently have collapsed? Days after they were were issued they fell five percentage points.  Buyers are looking at a loss, if they sell.

Previous posts on MU

http://atans1.wordpress.com/2010/01/23/mu-bye-bye-trophies/

http://atans1.wordpress.com/2010/01/09/mu-why-defeat-to-leeds-could-matter/

On Pool

http://atans1.wordpress.com/2010/01/31/how-bad-things-are-at-anfield/

http://atans1.wordpress.com/2010/01/17/reds-the-colour-the-futures-bright-bright-red-ink/

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