Distressed Debt Set to Grow as EMI, Yell Signal Second Restructuring Wave

The distressed debt market is set to grow as writedowns in the value of EMI Group Ltd. and Yell Group Plc loans signal struggling companies can’t always rely on banks to keep them afloat.

-

Company-Government Spread Widens as Banks Sell Debt

Jan. 18 -- The cost to borrow in the corporate bond market is rising for the first time since November as Barclays Plc, Lloyds Banking Group Plc and more than a dozen other European banks sell record amounts of fixed-income securities to refinance $2 trillion of debt due this year.

-

CIT Group increases, extends debt exchange offer

In the latest sign CIT Group Inc.

-

Saudi Banks to Make Enough Provisions for Saad, Algosaibi Debt

Oct.

-

CIT debt swap struggles, bankruptcy looms

CIT Group Inc is seeing little interest from bondholders in a debt exchange offer aimed at repairing its fragile balance sheet, making bankruptcy increasingly likely, sources familiar with the matter said.

-

Assets may be sold to refinance debt

PROPERTY developer Liam Carroll may sell assets including his stakes in Greencore Group and Irish Continental Group to help refinance more than €1bn in debt, the Sunday Business Post reported yesterday, without citing its source.

-

M&G Group’s Leopard CDO Buys Back Debt at a Discount

April 24 -- M&G Group Plc’s Leopard CLO III BV fund, which invests in high-risk, high-yield loans, bought back some of its senior debt at a discount, according to a statement from Moody’s Investors Service.

-