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28 Aug 2013

Market Chatter-Corporate finance press digest

The sale was a private placement. The issue included C$300 million ($286 million) of floating-rate notes due Dec. 3, 2015. The notes, which were priced at par, have a coupon rate of 42 basis points over the three-month Canadian Dealer Offered rate or CDOR.

Palm Beach Finance can pursue $1B Ponzi claim vs. GE Capital

history a behind those of Bernie Madoff and R. Allen Stanford . Palm Beach Finance was a set of investor funds that invested in Pettersa business operations. Petters created the illusion of massive deals in financing consumer electronic merchandise transactions, but most of the invoices were faked. Palm Beach Finance is currently run by a court-appointed trustee, Barry Mukamal of Marcum, who is represented by Miami-based Meland Russin & Budwick .

government housing finance authorities are pressing JPMorgan Chase & Co for at least $6 billion to settle lawsuits over bonds backed by subprime mortgages, according to a person familiar with the matter. * Billionaire Roman Abramovich is close to buying one of the biggest top-end office complexes in Moscow for up to $800 million in what would be Russia's second-largest office deal, three sources told Reuters. * KKR & Co and TPG Capital are out of the running in the auction for Hutchison Whampoa Ltd's Hong Kong supermarket chain ParknShop, people close to the matter told Reuters, after their offers failed to meet the company's expectations. * BlackBerry Ltd is considering spinning off its messaging service into a separate unit, the Wall Street Journal said on Tuesday, quoting people familiar with the matter.

Emirates Mulls Sukuk for $4.5 Billion in Planes: Islamic Finance

The carriers ability to raise funds proves it has no need for a credit rating , Jeffery said. Emirates boasts a fleet of 201 aircraft and has 192 on order worth more than $71 billion at list prices, according to the airlines fact sheet. Jeffery said he is not too concerned that runway repairs at Dubai International Airport starting May 2014 would affect the airlines financing capabilities, and said it is being dealt with at the commercial and operational level. Meanwhile Emirates has no plans for an IPO, as far as Jeffery is aware. The decision rests with the Dubai government, the airlines owners, he said.


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