October 2009

Short on credit, business traveler should try ’secured’ card (MalaysiaNews.net)

Q I need to secure more credit for business travel and I have poor credit. My company policy is that we pay for trips and then submit the receipts. A brief overview: My outstanding debt is my home; Ba…

Should I add my credit card debt to my mortgage? (Guardian Unlimited)

Q I have a seven-year fixed-rate mortgage with an interest rate of 4.99%, which is due to finish in October 2010. I also owe £6,000 on a two-year fixed-rate mortgage, which is due to finish on 31 December 2009. In addition, I have a credit card with an outstanding balance of £3,500 on which I now have to start paying interest. Should I take out a £9,500 mortgage at the end of December to cover …

Government unveils credit card crackdown (Guardian Unlimited)

Proposals would force borrowers to pay back more of their debt earlier and stop issuers raising credit limit without consent Credit card firms could be banned from increasing borrowers’ credit limits and the interest rates they pay in moves which the government today said would put consumers “back in the driving seat”. Under the proposals, which had been heavily trailed in the run-up to today’s …

Government to outline credit card crackdown (Guardian Unlimited)

Proposals would force borrowers to pay back more of their debt earlier and stop issuers raising credit limit without consent The government will tomorrow outline plans to crack down on credit card lending, including moves that could see borrowers forced to pay back more of their debt earlier. Amongst the proposals is the introduction of legislation forcing credit card companies to increase the …

GCI Prices Debt Offering (MultiChannel News)

Alaskan MSO General Communication Inc., priced a $425 million debt offering late Thursday that will be used to retire its outstanding senior secured credit facility and for general corporate purposes.

Brazil Corporate Debt Fund to Raise $1.67 Billion, Valor Says (Bloomberg)

Oct. 30 (Bloomberg) — Credit Suisse Group AG and Banco Santander SA’s Brazilian units together launched a corporate debt fund aiming to raise as much as 2.9 billion reais ($1.67 billion), Valor Economico reported, citing an interview with Jean-Pierre Cote Gil, the Standard & Poor’s executive in charge of rating the fund’s shares.

CIT Bonds Signal Bankruptcy Inevitable as Debt Exchange Expires (Bloomberg)

Oct. 30 (Bloomberg) — CIT Group Inc. bond and credit- default swap prices show that investors are betting the 101- year-old commercial lender will file for bankruptcy after the deadline for a debt exchange expired overnight.

Japan central bank to end corporate debt buying (MalaysiaNews.net)

TOKYO: Japan’s central bank said it will stop buying corporate debt in December, ending some of the emergency credit measures implemented earlier this year as it battled recession, plunging markets an…

Japan central bank to end corporate debt buying (AP via Yahoo! Finance)

Japan’s central bank said Friday it would stop buying corporate debt in December, ending some of the emergency credit measures implemented earlier this year as it battled recession, plunging markets and a lending freeze.

Sypris Retires Debt and Extends Credit Facilities (The Auto Channel)

LOUISVILLE, Ky.–Sypris Solutions, Inc. today announced that it has completed the retirement of certain debt obligations and extended the maturity dates of its credit facilities.

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