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Top StoriesU.s., European Banks Could Lose Over $5 Billion From Risky Buyout Loans
Ukraine’s Naftogaz Says Bondholders Reject Second Proposal to Suspend Debt Payments
Date: August 17, 2022
By Marc Jones LONDON (Reuters) -Ukraine’s state-owned gas company Naftogaz said on Wednesday its 2022 bondholders had rejected its latest proposal to suspend its debt payments for two years in the wake of Russia’s invasion. Naftogaz, which accounted for almost 17% of Ukraine’s total state budget revenue last year, has fallen into default after failing...
Factbox-U.S., European Banks Could Lose Over $5 Billion From Risky Buyout Loans
Date: August 17, 2022
NEW YORK (Reuters) – Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest rates made it tougher for banks to offload...
Analysis-U.S., European Banks Could Lose Over $5 Billion From Risky Buyout Loans
Date: August 17, 2022
By Saeed Azhar, Anirban Sen and Davide Barbuscia NEW YORK (Reuters) – Top U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest...
Russia’s Suek, EuroChem Ask Bondholders for Debt Payment Freeze
Date: August 16, 2022
GDANSK, Poland/LONDON (Reuters) -Two of the world’s largest coal and fertiliser companies formerly controlled by Russian businessman Andrey Melnichenko requested bond interest payment freezes on Tuesday, blaming the impact of sanctions and Russia’s retaliatory capital measures. SUEK, Russia’s largest coal firm and among the top 10 in the world, asked holders of its $500 million...
Exclusive: Wall Street Revives Russian Bond Trading After U.S. Go-Ahead
Date: August 15, 2022
By Davide Barbuscia NEW YORK (Reuters) – Several major Wall Street banks have begun offering to facilitate trades in Russian debt in recent days, according to bank documents seen by Reuters, giving investors another chance to dispose of assets widely seen in the West as toxic. Most U.S. and European banks had pulled back from...
Ukraine Faces Key Test on Debt Freeze Plan in Bid to Avoid Messy Default
Date: August 8, 2022
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – Ukraine’s creditors vote this week on a government proposal to defer payments on the war-torn country’s international bonds for 24 months as Kyiv hopes to swerve a $20 billion messy default. Bondholders have until 5 p.m. New York time (2100 GMT) on Tuesday to decide...