Klickitat County wind project receives $178 million in funding Oct 13, 2009
II LLC received the senior secured credit facility to buy more Siemens wind turbines and to recapitalize existing debt. Windy Point Partners is an affiliate of of San Diego, which is developing the project. (Puget Sound Business Journal, WA)
Applying for a new credit card? Tread carefully Oct 11, 2009
If you've got a bad credit score, one option is a secured credit card. The catch is that you'll need to put down a deposit equal to the amount of your credit line, and you'll likely be charged a membership fee (around $50) and a set up fee (around $70 to $100). (The Augusta Chronicle)
AB InBev selling theme parks Oct 9, 2009
Blackstone will use senior secured credit facilities and mezzanine debt to finance its purchase. The senior credit facilities are being provided by BofA Merrill Lynch, Barclays Capital, Deutsche Bank Securities, Goldman Sachs Loan Partners and Mizuho Corporate Bank. (The Star Online, Malaysia -- Business)
Windstream Obtains Consents to Amend and Restate Existing Senior Secured Credit Facilities Oct 9, 2009
--(BUSINESS WIRE)--Windstream Corporation (NYSE: - ) today announced that it was informed by the administrative agent under its existing senior secured credit facilities that the requisite lenders have consented to the proposed amendment and restatement of its existing senior secured credit facilities. The amendment and restatement would, among other things. (Yahoo! Wire -- Entertainment News)
Sinclair Commences Tender Offers for Company's 3.0% and 4.875% Convertible Notes; Enters into Memorandum of Understanding with Cunningham Oct 9, 2009
The tender offers will be conditioned on, among other things, receipt of sufficient proceeds from the unregistered, private placement of the second lien notes to fund the tender offers and an amendment of Sinclair's senior secured credit facility to allow the issuance of the second lien notes ... Sinclair intends to fund the cash tender offers, and all related costs and expenses, with the net proceeds from the unregistered, private placement of second lien notes and, if needed, a draw on the... (Yahoo! Wire -- Entertainment News)
Blackstone to buy InBev parks Oct 8, 2009
Blackstone said the financing includes senior secured credit facilities and mezzanine debt. Barclays Capital, , , and Mizuho Corporate Bank Ltd. are providing the senior debt. (Boston Globe)
Canwest Releases Projected Capital Expenditures and Other Financial Information Oct 7, 2009
The following is a projection of the cash flows, cash and secured obligations of CMI and the subsidiary credit parties under CMIs secured credit facility for the expected duration of the CCAA filing(1). . (Yahoo! Wire -- Entertainment News)
Dow suffers biggest loss in 3 months Thur. Oct 2, 2009
The Denver Denver corn-ethanol refiner said late Wednesday that its subsidiaries have amended their secured credit agreement with French bank BNP Paribas and a group of lenders, settling all outstanding issues among the parties and lifting all defaults previously asserted by the lenders. BioFuel said Sept. 18 it has received a staff deficiency letter from NASDAQ saying it has failed to comply with minimum bid-price rules that require the stock maintain a $1 a share price. (Denver Business Journal, CO)
Loans and Credit Card Offers for Ba... Sep 30, 2009
Some credit cards, called secured credit cards, are attractive to people with low credit ratings because they appear to work like a bank's debit card. However, the fees for using your own money can be exorbitant. (Suite101.com)
PCI Survey Finds Some Merchants Don't Use Antivirus Software Sep 25, 2009
The survey found that 55 percent of organizations only secured credit card information but not other data such as Social Security and driver's license numbers or bank account details. Also, only 28 percent of smaller companies between 501 to 1,000 employees comply with PCI DSS. That compares with more than 70 percent of large merchants with 75,000 or more employees that claimed they're compliant. (Yahoo News -- Technology)
Polymer Group repays $24M in debt Sep 25, 2009
has repaid $24 million in debt from a senior secured credit facility. The company has arranged an term loan at LIBOR plus 4. (Charlotte Business Journal, NC)
Some B/E Aerospace Debt Ratings Lowered Sep 24, 2009
At the same time, S it affirmed its BBB- issue-level rating on the company's senior secured credit facility. S it removed all ratings on B/E Aerospace from CreditWatch. (ABC News -- Wire)
Capmark bond holders plan to fire Deutsche as trustee Sep 24, 2009
5bn secured credit facility and USD 1. 1bn unsecured credit facility will accelerate, according to SEC filings. (FT.com -- Markets)
QVC Prices $1 Billion of New Senior Secured Notes Sep 23, 2009
The net proceeds of the offering will be used to fund the purchase and cancellation of outstanding borrowings under QVC's senior secured credit facilities. The offering is expected to close on or about September 25, 2009, subject to customary closing conditions. (Yahoo! Wire -- Entertainment News)
EPL Successfully Emerges From Chapter 11 Sep 22, 2009
The Company entered into a $70 million senior secured credit facility with General Electric Capital Corporation as administrative agent and two financial institutions as lenders consisting of a $25 million term loan and a three-year revolving credit facility with $45 million available at closing ... As previously announced, in accordance with the terms set forth in the Plan, unsecured creditors are to be paid in full for all allowed prepetition obligations in cash ... The Company anticipates... (PR Newswire)
Why Won't Anyone Give Me a Credit Card? Sep 19, 2009
"Well, it's going to be very hard to get [a card]." I had heard about secured credit cards, which require you to put up cash as collateralthink of it as a credit card with training wheels ... Bank of America actually does offer one of those secured credit cards, the BankAmericard Visa Secured Card. (Slate)
Report: American Airlines in joint bid to help JAL Sep 18, 2009
It said it would use the proceeds from that offering, along with initial borrowings under new senior secured credit facilities, to repay Northwest borrowings. Aything left would be used for general corporate purposes, Delta said. (Fresno Bee -- Business)
Harry Winston Diamond Corporation Announces Second Quarter Fiscal 2010 Results Sep 11, 2009
With the closing of the Kinross transaction and the repayment in full of the mining segment's senior secured credit facilities, the Company assesses liquidity and capital resources on a consolidated basis ... Harry Winston Japan, K.K. maintains secured and unsecured credit agreements with three banks amounting to (Yen)2,065 million ($21 ... 1 million had been drawn against this secured credit facility which expires on March 31, 2013. (PR Newswire)
NCI Building Systems Announces Commencement of Exchange Offer to Retire Existing Convertible Notes Sep 11, 2009
the refinancing of the Company's existing senior secured credit facility, including the repayment of approximately $143 million and a modification of the terms and maturity of the remaining $150 million of debt; and. entry into a new $125 million asset-based revolving credit facility. (PR Newswire)
Canwest Limited Partnership Reaches Forbearance Agreement with Senior Lenders Sep 11, 2009
WINNIPEG--(BUSINESS WIRE)--Canwest Global Communications Corp. (Canwest) announced today that its subsidiary, Canwest Limited Partnership (the Limited Partnership),has entered into a forbearance agreement with lenders under its senior secured credit facility while they continue discussions regarding the framework for a potential recapitalization transaction. Under the terms of the forbearance agreement, the senior lenders have agreed not to enforce their rights under the senior... (Yahoo! Wire -- Entertainment News)
Coinstar Sells Gumball and Video Game Business Sep 10, 2009
Coinstar said it would use the money to repay its term loan under a secured credit facility, and to pay down some of the money drawn on a $400 million line of credit. Coinstar shares fell $1. (ABC News -- Wire)
Wealthy Families in U.S. Resort to Bankruptcy, Dragged Down by Real Estate Sep 9, 2009
A secured credit card, which requires an upfront deposit, is a good way to start, he said. Scores may actually improve because of the discharged debts, Lin said, but credit will still be difficult to get and will be more expensive, because most companies do a separate search for bankruptcies as part of their underwriting. (Bloomberg -- US)
How do college students build credit history as rules change? Sep 8, 2009
Consider a secured credit card, but be aware of the drawbacks ... The advantage to secured credit cards is that you can't run wild, because you can never spend more than you have deposited ... But some secured credit cards have high fees, Cunningham says. (USA Today -- Money)
New act to prohibit credit card companies on campus Sep 3, 2009
He advises students to look into secured credit cards that work like prepaid cards, yet allow for students to show a history of taking and paying back that is necessary for showing good credit. An option that allows a student to sign on to a parent s account and have the benefits of their parent s credit history reflected on theirs may also appeal to some students, Prater said. (The Daily Targum, NJ)
Magma Reports Revenue of $28.8 Million for First Quarter Aug 28, 2009
MAGMA DESIGN AUTOMATION, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) August 2, May 3, 2009 2009 --------- --------- ASSETS Current assets: Cash and cash equivalents $ 36,812 $ 32,888 Restricted cash 7,876 9,215 Short-term investments 18,010 -- Accounts receivable, net 11,320 26,635 Prepaid expenses and other current assets 5,764 5,443 --------- --------- Total current assets 79,782 74,181 Property and equipment, net 8,868 10,443 Intangibles, net 10,772 12,170 Goodwill... (Primezone Releases)
Refinancing? Weigh risks of debt consolidation Aug 27, 2009
Weigh risks of debt consolidation - Personal finance- msnbc. Weigh risks of debt consolidation. (MSNBC -- Business)
Alliance One International, Inc. Completes Additional Senior Notes Offering Aug 27, 2009
Prior to the completion of this offering, the Company obtained an amendment to its senior secured credit facility to permit the issuance of the Additional Notes. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the Additional Notes, the Initial Notes or any other securities. (PR Newswire)
The Best Credit Cards for Those wit... Aug 26, 2009
Secured Credit Cards. With a secured credit card, one is required to make a security deposit on the account typically ranging from $100-$500. (Suite101.com)
KKR's Dollar General Files to Raise Up to $750 Million in IPO of Retailer Aug 21, 2009
Dollar General has two senior secured credit facilities for as much as $3. 33 billion of which $2. (Bloomberg -- US)
American Dental to sell 2.26m shares Aug 20, 2009
American Dental, a provider of management services for dental practices, also said it has commitments from lenders for a $130 million senior secured credit facility. The company priced the stock offering at $12 per share, an 8. (Boston Globe)
Education Management LLC Reports Fiscal 2009 Fourth Quarter and Full Year Results Aug 18, 2009
EDUCATION MANAGEMENT LLC AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES Reconciliation of Net Income to Adjusted EBITDA for Covenant Compliance (Dollars in millions) (Unaudited) Adjusted earnings before interest, income taxes, depreciation and amortization ("Adjusted EBITDA") is a non-GAAP measure used to determine our compliance with certain covenants contained in the indentures governing our outstanding senior notes and senior subordinated notes (collectively, the "Notes") and in our... (PR Newswire)
Changes coming Aug 17, 2009
- Start with a secured credit card (tied in with a savings account) that comes with a low APR and no annual fees. Start with a low limit, such as $500, and establish parameters for what you'll use the card for. (The Augusta Chronicle)
Polymer Group, Inc. Announces Preliminary Summary Results; Aug 15, 2009
Additionally, the company does not intend to execute its previously announced amendment and extension transaction related to its senior secured credit facility until after the Form 10-Q is filed. Polymer Group, Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. (PR Newswire)
MTR Gaming Group Announces Settlement of Cash Tender Offer for Its 9-3/4% Senior Notes Due 2010 and Completion of Senior Secured Notes Offering Aug 13, 2009
The net proceeds from the sale of the Senior Secured Notes, together with cash on hand, were used to: (i) purchase all of the Companys Senior Notes tendered in connection with the Tender Offer and pay accrued and unpaid interest thereon and pay consent fees associated with the Companys previously announced solicitation of consents to certain amendments to the indenture governing the Senior Notes; (ii) repay all amounts outstanding under the Companys existing senior secured credit... (Yahoo! Wire -- Entertainment News)
TOP Ships Reports Second Quarter and First Half 2009 Financial Results Aug 11, 2009
As of June 30, 2009, TOP Ships had total indebtedness under senior secured credit facilities of $404. 7 million with its lenders, the Royal Bank of Scotland ("RBS"), HSH Nordbank ("HSH"), DVB Bank ("DVB"), Alpha Bank ("ALPHA") and Emporiki Bank ("EMPORIKI"), maturing from 2013 through 2019. (PR Newswire)
CC Media Holdings, Inc. Reports Second Quarter 2009 Results Aug 11, 2009
The Companys senior secured credit facilities require the Company to comply with a maximum consolidated senior secured net debt to adjusted EBITDA (as calculated in accordance with the senior secured credit facilities) ratio. Secured Leverage, defined as secured debt, net of cash, divided by the trailing 12-month consolidated EBITDA, was 8. (Yahoo! Wire -- Entertainment News)
Helping your kids build a strong credit history Aug 11, 2009
If the parent lacks good credit or does not want to add an authorized user, another option for young adults is getting a secured credit card. The consumer puts an amount in a bank account that secures the card and gets a credit limit in the same amount. (San Francisco Chronicle -- Business)
Exide Technologies Reports Fiscal 2010 First Quarter Results Aug 7, 2009
01 par value, 200,000 shares authorized, 75,530 and 75,499 shares issued and outstanding 755 755 Additional paid-in capital 1,112,425 1,111,001 Accumulated deficit (841,255) (787,281) Accumulated other comprehensive income 24,088 1,752 ---------- ---------- Total stockholders' equity attributable to Exide Technologies 296,013 326,227 Noncontrolling interests 16,447 15,840 ---------- ---------- Total stockholders' equity 312,460 342,067 ---------- ---------- Total liabilities and stockholders'... (Primezone Releases)
Targa Resources Partners LP Announces Public Offering of Common Units Aug 7, 2009
The Partnership intends to use the net proceeds from the offering for general partnership purposes, which may include reducing borrowings under its senior secured credit facility and redeeming or repurchasing some of its outstanding notes. UBS Investment Bank, Barclays Capital and Citi will act as joint book-running managers for the offering. (Primezone Releases)
Select Medical Corporation Amends its Senior Secured Credit Facility Aug 6, 2009
Aug. 5 /PRNewswire/ -- Select Medical Corporation ("Select") and Select's parent corporation, Select Medical Holdings Corporation ("Holdings"), on August 5, 2009 entered into Amendment No. 3 (the "Amendment") to Select's senior secured credit facility, dated as of February 24, 2005 (as amended to date, the "Credit Facility"), with a group of holders of Tranche B term loans and JPMorgan Chase Bank, N.A., as administrative agent. The Amendment extended the maturity of $384,533,175. (PR Newswire)
Key Energy Services Announces Second Quarter 2009 Results Aug 6, 2009
0 million on its senior secured credit facility in the second quarter, leaving the Company with $87 ... Mr. Alario continued, "Until we begin to witness a more meaningful increase in U.S. based activity, we will continue our cost reduction efforts, and will address our covenant structure with the banks involved in our senior secured credit facility to avoid any possibility of a breach of our financial obligations. Meanwhile, I am pleased with our continued success in Mexico, and look forward to... (PR Newswire)
Moody's Upgrades NorthWestern Corporation's Senior Secured Credit Ratings Aug 5, 2009
SIOUX FALLS, S.D., Aug. 4 /PRNewswire-FirstCall/ -- NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: ) today announced that Moody's Investors Service has upgraded NorthWestern's senior secured debt ratings from Baa1 to A3. Moody's cited as a reason for its upgrade an analysis that indicates regulated utilities have defaulted at a lower rate and experienced lower loss given default rates than non-financial, non-utility corporate issuers. (PR Newswire)
Parkland Reports Second Quarter Financial Results Jul 31, 2009
Capital Resources We completed arrangement of our new banking syndicate and increased our senior secured credit facility, including operating line, letters of credit and capital facility, to $265 million from $169 million. This is expected to provide sufficient funding for our 2009 growth capital program and allow for potential acquisitions. (Canada Newswire)
Empire Resorts Announces the Acquisition of its $10,000,000 Bank of Scotland Credit Facility by the Park Avenue Bank of New York Jul 29, 2009
MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: ) announced today that The Park Avenue Bank of New York (the Bank) has acquired its $10,000,000 secured credit facility from the Bank of Scotland. Prior to the closing, the outstanding balance under this facility was approximately $6,900,000. (Yahoo! Wire -- Entertainment News)
Parents asked to give their children animal source foods Jul 29, 2009
According to Dr Dawson, ENAM had secured credit facilities from rural banks for women under the project in the Effutu area to expand their businesses and improve their financial situation to be able to cater properly for their children. He said most of the women the bank supported had started repaying their loans as their businesses expand. (Ghana Web, Ghana)
Polymer Group, Inc. Obtains Consents to Amend and Extend Its Senior Secured Credit Facility Jul 28, 2009
Text hiding to spacing. (PRNewsFoto/PGI) CHARLOTTE, NC UNITED STATES. (PR Newswire)
Secured credit cards can help create or repair credit history Jul 27, 2009
Secured credit cards can help people who have little credit history build their credit rating or assist people with bad credit rebuild their score. Activating a secured credit card requires a deposit of money that is used as security against the card ... Secured credit cards work like credit cards and, unlike debit cards, most card issuers report card activity to the three major credit bureaus that track credit scores. (Waterloo Courier, IO)
GVA Advantis closes Jul 25, 2009
Townsend explained that Florida-based , the company that sold GVA Advantis to a group of Washington, D.C., investors in 2008, still has a $7 million secured credit note against Advantis Holdings LLC. St. Joe opted to freeze funds in GVA Advantis operating accounts around July 17 because of displeasure with the Advantis leadership under its chairman, Jeffrey Neal. We are still trying to assist people to get everybody paid that we can get paid, but a lot of it is out of our control, Townsend said. (Triangle Business Journal)
MTR Gaming Group Announces Pricing of Senior Secured Notes Offering Jul 25, 2009
75% Senior Notes due 2010 tendered in connection with its previously announced tender offer (the Tender Offer) and consent solicitation (Senior Note Consent Solicitation) and pay the consent fees in connection with the Senior Note Consent Solicitation, (2)repay all amounts outstanding under the Companys existing senior secured credit facility and (3)pay consent fees in connection with the Companys previously announced solicitation of consents to certain amendments to the... (Yahoo! Wire -- Entertainment News)
Taubman Centers Announces Second Quarter Results Jul 24, 2009
"We have no debt maturities until the fall of 2010 and collectively through 2011, only about 13 percent of our share of total debt matures." The company's secured credit lines total $590 million and mature in 2011 with a one year extension option to 2012 on $550 million of the lines. As of June 30, $382 million was available for use. (PR Newswire)
Steel Dynamics Reports Second Quarter 2009 Results Jul 23, 2009
During this time frame, the company also amended its senior secured credit agreement, obtaining greater financial covenant flexibility through 2010. There was no net impact to the second quarter's loss per diluted share due to these transactions, as the weighted average increase in outstanding shares was offset by certain related transaction expenses of approximately $3. (PR Newswire)
Financial disruption is personal for the millions who file for bankruptcy Jul 20, 2009
Post-bankruptcy consumers can rebuild their credit with a secured credit card. "It's essentially a Visa card that's issued with a savings account that is collateralizing the card," Stednitz explained. (Longview Daily News, WA)
CIT moves closer to bankruptcy Jul 17, 2009
San Francisco-based Wells extended the five-year, $500 million secured credit line in November. The loans were backed by CIT s loans to mid-sized businesses. (San Jose Business Journal, CA)
Penn Virginia buys Okla. plant from Atlas Jul 15, 2009
The Philadelphia partnership will use proceeds from the sale to reduce the outstanding balance on its senior secured credit facility. Reader Comments. (Philadelphia Business Journal, PA)
McClellan gets $95M credit line Jul 7, 2009
McClellan Park announced Monday it has obtained a $95 million secured credit facility from to finance growth, promote business development and create new jobs at the business park. The new credit facility is for up to five years and provides a revolving line of credit. (Sacramento Business Journal, CA)
Microsoft Prepares for Worst as New U.S. Company Bonds Show No End to Fear Jul 7, 2009
18 billion senior secured credit facility used to finance Apollo Management LP and TPG Inc.s buyout of the company in January 2008, according to a regulatory filing. On June 17, , a provider of information-technology infrastructure services, sold $420 million of 12 percent senior secured notes due in 2017 in the companys first bond offering in two years, Bloomberg data show. (Bloomberg)
Alliance One International, Inc. Completes Refinancing Transactions Jul 3, 2009
- Enters into replacement revolving senior secured credit facility ... Alliance One also announced that it has entered into a new revolving senior secured credit facility which replaced its existing $305 million revolving senior secured revolving credit facility scheduled to mature on September 30, 2010 ... The new revolving senior secured credit facility, which has a term expiring on September 30, 2012 and an initial lending commitment of $270 million, permits the offering, issuance and sale of... (PR Newswire)
Targa Resources Partners LP Prices $250 Million of Senior Notes Jul 1, 2009
The Partnership intends to use the net proceeds from the offering to reduce borrowings under its senior secured credit facility and for general partnership purposes, including working capital and acquisitions. The offering has not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of... (Primezone Releases)
China 'agrees huge Zimbabwe loan' Jul 1, 2009
"The government through the minister of finance, secured credit lines of almost $950m from China," Mr Tsvangirai said in a news conference. China was one of the few countries to retain economic support for Zimbabwe in recent years. (BBC News -- Africa)
Cumulus Media Inc. Announces Third Amendment to Credit Facility Jun 30, 2009
ATLANTA--(BUSINESS WIRE)--Cumulus Media Inc. (NASDAQ: - ) (the Company) today announced that it has entered into an amendment to its senior secured credit facility, which was overwhelmingly approved by the lenders ... 9 million under the senior secured credit facility. (Yahoo! Wire -- Entertainment News)
Alliance One International, Inc. Prices $570 Million Senior Notes Due 2016 Jun 27, 2009
The completion of the offering of the Senior Notes is conditioned upon Alliance One receiving, at a minimum, an amendment to, or replacement of, its senior secured credit facility that permits the repurchase of the Existing Notes in the Tender Offer and upon the concurrent closing of at least $100 million in aggregate principal amount of the Convertible Notes on terms to be determined based on market conditions at the time of pricing of the Convertible Notes. The Company intends to apply the... (PR Newswire)
Belden to make private debt offer Jun 25, 2009
The company also said it is asking its lender to reduce the amount available on its senior secured credit facility from $350 million to $250 million, and the amount available on its incremental facility to be reduced from $150 million to $100 million. The amendment also would allow each lender to elect to extend the maturity date of outstanding commitments until Jan. 24, 2013; commitments will mature Jan. 24, 2011, if not extended. (St. Louis Business Journal, MO)
Belden Announces Pricing of Senior Subordinated Notes Offering Jun 25, 2009
The notes will rank pari passu with its current and any future senior subordinated debt, and will be subordinated to all of Belden's and the subsidiary guarantors' senior debt, including Belden's senior secured credit facility. Belden will have the option to redeem all or a portion of the notes at any time on or after June 15, 2014 at specified redemption prices. (PR Newswire)
FairPoint launches exchange offer Jun 25, 2009
It also will help keep the company in compliance with its senior secured credit facility agreement. FairPoint says it believes the exchange offer is critical to its continued viability. (Charlotte Business Journal, NC)
FairPoint Announces Private Debt Exchange Offer for its 13 1/8% Senior Notes Due 2018 Jun 25, 2009
The Exchange Offer is primarily designed to reduce FairPoint's cash interest expense for the second and third quarters of 2009 and to help FairPoint maintain compliance with the interest coverage ratio maintenance covenant contained in its senior secured credit facility (the "Credit Facility") for the measurement period ending June 30, 2009. Accordingly, the Company believes the consummation of the Exchange Offer is critical to its continued viability, while it works with its financial advisor... (PR Newswire)
