International Business News - Debt http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif XM Satellite Radio Holdings Inc. on Friday said it has reached an agreement to restructure about $600 million of debt, putting itself a step closer to completing its purchase by rival Sirius Satellite Radio Inc. http://www.ibtimes.com/articles/20080718/xm-restructures-debt-approaching-a-sale-to-sirius.htm Fri, 18 Jul 2008 15:45:12 EDT XM Satellite Radio Holdings Inc. on Friday said it has reached an agreement to restructure about $600 million of debt, putting itself a step closer to completing its purchase by rival Sirius Satellite Radio Inc. http://www.ibtimes.com/articles/20080718/xm-restructures-debt-approaching-a-sale-to-sirius.htm Fri, 18 Jul 2008 14:15:01 EDT Kingsway Financial Services Inc., an automobile and truck insurer, said Monday it plans to retire most of its short-term debt. Kingsway Financial said it will pay off completely $89.8 million in outstanding debt under a three-year credit facility it opened in 2006. The Toronto-based insurer will also pay off 19.9 million Canadian dollars ($19.7 million) of 69.8 million Canadian dollars ($69.2 million) outstanding on a one-year credit facility opened last year. http://www.ibtimes.com/articles/20080714/kingsway-financial-to-pay-off-most-short-term-debt.htm Mon, 14 Jul 2008 12:34:55 EDT Senator Barack Obama appeared in New York City on Wednesday night alongside Caroline Kennedy to attend the first of three fundraisers for Obama's campaign and to help ease Clinton out of her primary. On the first event, Obama almost forgot to ask donors to support his former running mate. http://www.ibtimes.com/data/articleimgs/88884-barack-obama.jpg http://www.ibtimes.com/articles/20080709/obama-clinton-kennedy-fundraiser-debt-campaign-elections.htm http://www.ibtimes.com/articles/20080709/obama-clinton-kennedy-fundraiser-debt-campaign-elections.htm Wed, 09 Jul 2008 22:59:19 EDT The United Arab Emirates canceled billions of dollars of Iraqi debt Sunday and moved to restore a full diplomatic mission in Baghdad, evidence of Iraq's improved security and growing acceptance of its Shiite-led government. http://www.ibtimes.com/data/articleimgs/87093-mideast-emirates-iraqi-prime-minister.jpg http://www.ibtimes.com/articles/20080706/report-united-arab-emirates-cancels-iraqi-debt.htm http://www.ibtimes.com/articles/20080706/report-united-arab-emirates-cancels-iraqi-debt.htm Sun, 06 Jul 2008 20:37:23 EDT Portugal has canceled all debts owed to it by former colony Mozambique. Mozambican Finance Minister Manuel Chang and his Portuguese counterpart Fernando Teixeira dos Santos signed an agreement canceling debts amounting to $393.4 million in Maputo on Tuesday. http://www.ibtimes.com/articles/20080702/portugal-cancels-393m-mozambican-debt.htm Wed, 02 Jul 2008 12:43:33 EDT Bulgaria's Finance Ministry says Iraq has paid $360 million to settle its debts to Bulgaria. A ministry statement says Wednesday's payment follows a 2007 agreement that revised Iraq's total debt to Bulgaria from US$1.86 billion to US$3.5 billion. The calculation took into account inflation and interest accrued. http://www.ibtimes.com/articles/20080702/iraq-pays-360m-debt-to-bulgaria.htm Wed, 02 Jul 2008 12:37:13 EDT Louisiana's credit rating on its general obligation bonds and certain types of state debt was raised Tuesday by Standard & Poor's Rating Services, reversing a downgrade given to the state after hurricanes Katrina and Rita. http://www.ibtimes.com/articles/20080701/louisianas-credit-rating-upgraded.htm Tue, 01 Jul 2008 18:39:57 EDT The Star Tribune Company is technically in default to its junior debt holders after failing to make an interest payment due Monday. The newspaper reports Tuesday that it declined to make the quarterly interest payment to the holders of $96 million in second-tier debt. http://www.ibtimes.com/articles/20080701/star-tribune-in-default-to-junior-debt-holders.htm Tue, 01 Jul 2008 14:18:47 EDT JPMorgan Chase & Co. said Monday it is guaranteeing all of Bear Stearns Cos. preferred stock and debt, as it prepares to take over the company's broker-dealer subsidiary July 15. http://www.ibtimes.com/articles/20080630/jpmorgan-guarantees-all-bear-preferred-stock-debt.htm Mon, 30 Jun 2008 12:08:24 EDT Retail brokerage E-Trade Financial Corp. said Monday it further reduced its debt during the second quarter in an effort to lower its leverage ratio and debt service requirements. http://www.ibtimes.com/articles/20080630/e-trade-cuts-debt-by-95-8-million-in-2q.htm Mon, 30 Jun 2008 08:32:05 EDT Citigroup Inc. is reorganizing the team that invests in distressed debt, the nation's biggest bank by assets said Friday. "We have decided to restructure our Global Special Situations Group in order to maximize the significant opportunities in the global distressed sector," Citigroup said in a statement. http://www.ibtimes.com/articles/20080627/citigroup-reorganizes-distressed-debt-group.htm Fri, 27 Jun 2008 16:11:18 EDT Real estate investment trust Ashford Hospitality Trust Inc. said Wednesday it refinanced its $73.5 million loan with MetLife. The loan is secured by interests in the Hilton Tucson El Conquistador Golf Resort in Tucson, Ariz., and the Hilton Dallas Lincoln Centre in Dallas. http://www.ibtimes.com/articles/20080625/ashford-hospitality-trust-refinances-metlife-debt.htm Wed, 25 Jun 2008 18:29:55 EDT Brookfield Asset Management Inc. said it completed the sale of 150 million Canadian dollars ($147.8 million) worth of preferred stock, the investment firm said Wednesday. http://www.ibtimes.com/articles/20080625/brookfield-closes-sale-of-147-8m-in-debt.htm Wed, 25 Jun 2008 12:40:47 EDT Argentina reported that its total foreign debt hit $127 billion in the first quarter of the year--continuing to rise higher than when the country negotiated a record debt swap in 2005. http://www.ibtimes.com/articles/20080625/argentine-debt-hits-high-since-default.htm Wed, 25 Jun 2008 12:14:35 EDT Atlas Pipeline Partners LP said Monday it will sell $300 million in unsecured senior notes in a private placement to pay down existing debt. Atlas, which operates natural gas pipelines, has not yet set the terms of the debt offering. It said it will use the proceeds to repay its senior secured term loan and its senior secured revolving credit facility. http://www.ibtimes.com/articles/20080623/atlas-pipeline-to-sell-300-million-in-debt.htm Mon, 23 Jun 2008 12:21:17 EDT Chemicals maker Ferro Corp. said Monday it will sell $200 million worth of senior notes due 2016 in a public offering, and use the proceeds and available cash to buy back its 9 1/8 percent senior notes due 2009. http://www.ibtimes.com/articles/20080623/ferro-to-sell-200m-of-senior-notes-due-2016.htm Mon, 23 Jun 2008 08:44:45 EDT Time Warner Cable Inc. the cable television arm of media conglomerate Time Warner Inc., said Tuesday it priced an $5 billion underwritten public offering of debt securities. http://www.ibtimes.com/articles/20080617/time-warner-cable-prices-5-billion-debt-offering.htm Tue, 17 Jun 2008 12:39:05 EDT Credit-rating agencies are betting that the housing downturn will deepen well into next year, dragging out homebuilders' woes. Fitch Ratings on Tuesday slashed its issuer default ratings for eight homebuilders, bumping three--Ryland Group Inc., D.R. Horton and Centex Corp.--into "junk" status. http://www.ibtimes.com/articles/20080610/homebuilders-debt-ratings-cut-on-grim-sector-outlook.htm Tue, 10 Jun 2008 17:04:09 EDT The Associated Press-AOL Health poll on debt and stress was conducted March 24 to April 3, 2008 by Abt SRBI Inc. The poll is based on telephone interviews with a nationally representative random sample of 1,002 adults from all states except Alaska and Hawaii, including 778 adults with credit cards and 931 adults with debt. http://www.ibtimes.com/articles/20080609/method-for-ap-aol-health-poll-on-debt-and-stress.htm Mon, 09 Jun 2008 09:50:29 EDT