Spridningseffekter

Xstrata Drops Planned Bid for Lonmin on Turmoil, Debt  

Oct. 1 (Bloomberg) -- Xstrata Plc scrapped its 5 billion- pound ($8.9 billion) hostile bid for Lonmin Plc, the world's third-largest platinum producer, as ``extreme'' turmoil in financial markets prompted concern over funding the deal.

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Mvh, /Leif

McDonald's Says Bank of America Won't Boost Loans 

Sept. 22 (Bloomberg) -- McDonald's Corp., the world's largest restaurant company, told some U.S. franchisees to seek other ways to finance store improvements after Bank of America Corp. declined to increase lending. 

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Mvh, /Leif

PS, har dementerats, jfr #4 o #6.

DS

Inlägget är redigerat av författaren.

Moscow Builders Halt Projects as Credit Crunch Bites 

Oct. 1 (Bloomberg) -- Moscow's decade-long building boom is falling victim to the global credit crunch as record high interest rates squeeze developers in the world's third most expensive property market.

``Loan rates have climbed to ridiculous heights and the terms are very short,'' said Dmitry Lutsenko, a board member at Mirax Group, the Moscow-based company that's building the Federation Tower, which will be Europe's tallest skyscraper when completed.

Mirax canceled plans to develop 10 million square meters (108 million square feet) of commercial and residential space after interest rates on some loans rose to as high as 25 percent, Sergei Polonsky, Mirax's billionaire owner, said in a Sept. 29 e-mail. The company's Web site shows it has projects in countries including Russia, Ukraine, France, Turkey, Cambodia, Vietnam, Montenegro.

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Mvh, /Leif

#2

Nej, detta har visat sig inte vara sant. Om McDonalds då.

Fanns ingen "crunch" som det rapporterades om.

Mvh Corpsee

Inlägget är redigerat av författaren.

Cash-Starved Companies Scrap Dividends, Tap Credit to Survive 

Oct. 1 (Bloomberg) -- Carmike Cinemas Inc., the third- largest U.S. theater chain by screens, suspended its dividend, while Duke Energy Corp., owner of utilities in five U.S. states, tapped $1 billion from a credit agreement and RC2 Corp., the maker of infant and preschool products, canceled an acquisition.

The paralysis in credit markets is changing how U.S. companies do business as banks pull back on loans or make them prohibitively expensive. Some companies are closing plants and stores, postponing takeovers and grabbing any available credit in a fight for survival.

``If businesses don't have access to capital, smaller companies in particular, they might get wiped out,'' said Alec Young, a New York-based equity strategist at Standard & Poor's. ``It's impossible to quantify how expensive this crisis is going to be for Corporate America; there's unlimited downside.''

Investors will be watching today to see whether Ford Motor Co., the second-largest U.S. automaker, will repay $1.5 billion in debt with cash rather than tap a revolving credit line, as analysts predict. Slumping auto sales and surging borrowing costs may boost U.S. new-vehicle dealership closures as much as 40 percent this year, the National Automobile Dealers Association said yesterday. 

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Mvh, /Leif

#4 Ok, tack, hittade dementi här:

BoA denies McDonald's franchise credit freeze

Last Updated: September 24, 2008: 2:21 PM ET
CHICAGO (AP) -- Bank of America said late Tuesday that it is not freezing any current or new lines of credit to McDonald's franchise owners, despite reports citing an internal memo from the fast-food giant advising franchisees of the contrary.

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Mvh, /Leif

Kul med media dock. Det ska uppenbarligen vara så att de vill höja sin kreditlimit från 750 till 1000mdr men det krävs styrelsemöte först.

Så kan det vara. :) Men man gör ju det till vad man vill :) 

Mvh Corpsee

#7 Mm.. lite svårt att veta exakt vad som ligger i botten alltid.

Själva dementin i #6 andas väl just att BofA fullgör sina nuvarande åtaganden gentemot McD. Fast ursprungsnyheten var ju dock att McD "hade problem" att få utökade krediter. Det låter väl iofs normalt att ett beslut av den storleksordningen kräver ett styrelsemöte, men kanske det den här gången har luftats att det finns en reell möjlighet att det blir ett nej? Vad vet man... 

Mvh, /Leif

:=)

#1

STOCKHOLM (Direkt) Xstrata har utökat sitt ägande i
platinaproducenten Lonmin till 24,9 procent efter att ha
förvärvat ytterligare 14,2 procent av bolaget för 440
miljoner pund.

Det skriver Bloomberg News./GV 
 

Mvh Corpsee

Ericsson-kund bromsar

2008-10-01 12:31 Direkt / Affärsvärlden
En av Ericssons viktigaste kunder, amerikanska AT&T, överväger att ompröva alla kommande investeringar

Ericssonkunden och Nordamerikas största teleoperatör, AT&T, upplever att tillgången på kapital är osäker och varierande, vilket gör att bolaget i allt högre grad omprövar alla planerade investeringar.

Det sade Randall Stephenson, vd och styrelseordförande för AT&T, i samband med invigningen av teleoperatörens nya kundtjänstcenter i North Carolina, USA, på tisdagen, skriver AP News, som citeras av nyhetsbyrån Direkt. 

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Mvh, /Leif

länk

"Markets are never wrong - opinions often are"

Treasurers Try to Keep Credit With `Hardball' Banks 

Oct. 3 (Bloomberg) -- Almost 100 U.S. corporate treasurers gathered for an emergency conference call yesterday to warn each other that banks are using any excuse to charge more to renew lines of credit. 

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Banks are demanding renegotiation of interest charges or lending terms when ``routine'' amendments are requested on lines of credit, said Thomas C. Deas Jr., treasurer of Philadelphia- based FMC Corp. and an association board member.

``These are very different circumstances than many of us have dealt with before,'' said the 58-year-old chemical-company executive, who organized yesterday's call and didn't identify any banks. ``We're all having to learn every day about provisions that were buried in documents executed 15 years before.'' 

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Even before the treasurers convened, Bally Technologies Inc., the second-largest U.S. slot-machine maker, faced the expiration of a credit line on Sept. 29, just as the House defeated an earlier financial bailout bill and the Standard & Poor's 500 Index fell the most since the October 1987 crash.

``We got caught in the eye of the storm,'' said Chief Executive Officer Richard Haddrill.

Bally, rated Ba3 by Moody's and BB at Standard & Poor's, negotiated a new credit line at 325 basis points above Libor, 75 basis points more than it had been paying, he said.

``We closed it on the big down day in the market,'' the 55- year-old CEO said. ``So, that was a big accomplishment.'' The London interbank offered rate, or Libor, is what banks charge each other overnight to borrow dollars.

American Capital Ltd., an asset manager in Bethesda, Maryland, had its credit line cut from $1.57 billion to $1.41 billion as of Sept. 29, according to a company statement. The interest rate on the credit will increase to 325 basis points over Libor, up from 90 basis points, the statement said.

The line will be cut to $1.25 billion next Dec. 31, the company said. 

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Mvh, /Leif

Märkligt stort fokus på det här innan omröstningen.

Marknaden är totalt fryst, och varför skulle den inte vara det? Vem, vilken bank lånar ut i dag när det kan vara hysteriskt mycket bättre efter omröstningen? 

Mvh Corpsee

Fed May See Lending to Companies, States as Next Crisis Fronts 

Oct. 6 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke may find the next fronts of the financial crisis to be just as chilling as last month's downfall of Wall Street titans: its spread to corporate America and state and local governments.

Companies from Goodyear Tire & Rubber Co. and Duke Energy Corp. to Gannett Co. and Caterpillar Inc. are being forced to tap emergency credit lines or pay more to borrow as investors flee even firms with few links to the subprime-mortgage debacle. California Governor Arnold Schwarzenegger says his and other states may need emergency federal loans as funding dries up. 

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Duke Energy, the owner of utilities in five U.S. states, last week tapped about $1 billion from a $3.2 billion credit agreement after concluding it may not be able to meet its plan for new financing. Caterpillar, the biggest maker of earthmoving equipment, had to pay the biggest premiums over Treasuries in at least three decades at a sale of five-year and 10-year notes

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Mvh, /Leif

Fed to Purchase U.S. Commercial Paper to Ease Crunch 

Oct. 7 (Bloomberg) -- The Federal Reserve will create a special fund to purchase U.S. commercial paper after the credit crunch threatened to cut off a key source of funding for corporations.

The Treasury will make a deposit with the Fed's New York district bank to help set up the special purpose vehicle. The central bank will also lend to the program at policy makers' target rate for overnight loans between banks. The Fed Board invoked emergency powers to set up the unit, the central bank said in a statement released in Washington.

Today's action follows a slide in the commercial-paper market to a three-year low of $1.6 trillion last week as investors fled even companies with few links to the subprime mortgage crisis. Companies from newspaper firm Gannett Co. to electricity producer Southern Co. have been forced to tap credit lines or forego raising debt because of the market's disruption.

The Fed didn't say how much commercial paper, which hundreds of companies use to finance payrolls and meet other cash needs, it plans to purchase. 

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FED tycker uppenbarligen att det finns spridningseffekter... 

Mvh, /Leif