News & Events

market
intelligence
briefing


April 29, 2017


Commercial Banking

  • Deutsche Bank hires David Silber as head of equity derivatives for Americas


    Apr 27 -
    Deutsche Bank has hired David Silber as its Head of Americas Equity Derivatives and Eoin Milligan, as a Director in Equities. Silber comes over from Citigroup where he served as Managing Director and Head of North American Execution Sales. He will begin his new role in June. Milligan was previously a Director at Bank of America where he was responsible for building strategic risk and exposure management applications.

    Read Article

  • JPMorgan provides $2.2B revolving credit facility to Motorola Solutions


    Apr 27 -
    JPMorgan will provide Motorola Solutions with a revolving credit agreement, which includes a $2.2 billion revolving credit facility with a $500 million letter of credit sublimit. As part of the agreement, Motorola will be able to increase aggregate commitments under new credit agreement from $2.2 billion to $2.75 billion. The agreement will replace an existing revolving credit agreement with the bank.

    Read Article

  • South Africa regulator fines Citibank $5M for manipulating rand trading


    Apr 26 -
    South Africa’s Competition Tribunal fined Citibank $5.2 million for its role in rigging rand currency trading. The fine works out to less than 10% of the bank’s annual revenue in the country. The bank had reportedly admitted to manipulating the price of bids and offers through agreements to refrain from trading, and created fictitious bids and offers.

    Read Article


Real Estate Finance

  • Blackstone acquires senior living portfolio for $747M


    Apr 27 -
    Blackstone increased its senior housing holdings in Q1, acquiring 25 properties operated by Senior Lifestyle from Welltower for $747 million. Senior Lifestyle operated 204 communities as of 2016 in 29 states.

    Read Article

  • Rose Associates JV secures $375M loan for New York asset


    Apr 28 -
    Rose Associates and DTH Capital secured a $375-million loan to refinance their Financial District building in New York. Brookfield Real Estate Financial Partners arranged the financing. Brookfield structured it to take the subordinate mezzanine loan, with Bank of China and ING providing the debt on the senior loan.

    Read Article

  • L&L JV listing New York office assets for $200M


    Apr 26 -
    L&L Holding Company and PGIM Real Estate are listing three interconnected Chelsea, N.Y., office buildings for $200 million. The JV bought the properties from the Related Companies for $160 million in 2014. The properties, which rise four and nine stories, collectively hold about 200,000 square-feet. The JV hired Savills Studley to sell the properties.

    Read Article


Commercial Bankruptcy

  • ABC Disposal emerges from bankruptcy


    Apr 26 -
    ABC Disposal Services has reportedly emerged from bankruptcy after a judge released the company from its Chapter 11 proceeding. As part of the company’s reorganization plan, creditors with secured claims and priority claims will be repaid in full and general unsecured claims will receive 85%. Webster Bank will also open a $5 million line of credit to be used for capital investments and company growth.

    Read Article

  • Glo Airlines files for bankruptcy


    Apr 24 -
    Startup charter airline Glo Airlines has filed for bankruptcy. According to court documents, the company reported between $10 million and $50 million in debt and between $10 million and $50 million in assets. The company is seeking court approval for a $750,000 loan to continue operations during the process.

    Read Article

  • iHeartMedia warns investors of likely bankruptcy


    Apr 24 -
    According to reports, iHeartMedia is warning its investors it may be forced into administration before the year is out. The company currently has a $350 million debt repayment due in the coming months, with another $8.3 billion payment due in 2019. The biggest radio broadcaster in the U.S. is attempting, unsuccessfully, to defer up to $14 billion of its debts and bankruptcy seems likely for the company.

    Read Article