Easy Debt Settlement

According to figures released by insolvency practitioners Adcroft Hilton, the number of bankruptcies recorded in Burnley was 32% higher in the second quarter of 2009 than in the same period last year, the Burnley Express reports.

The company`s autumn 2009 report shows an increase in personal bankruptcies in towns and cities across Lancashire, with Burney being hit particularly badly.

Other cities in the North-west have also been feeling the effects of the recession, with Blackburn and Preston both seeing a jump in the number of petitions recorded – suggesting that more people are struggling with unmanageable debt in the region.

A spokesperson for company Gregory Pennington commented: “At a time like now, more and more people are finding it difficult to manage their finances, leading thousands into unmanageable debt.

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Tags: Burnley, Leads Bankruptcies

The Eastman Kodak Company was expecting to gain upwards of $400 million of its $700 million in debt refinancing from other qualified institution buyers instead of using Kohlberg Kravis Roberts & Co., a private equity fund.

The iconic photography business has sought to redefine itself in order to keep pace in the digital age. The interest of hedge funds, pension funds, and other institutional investors has been seriously piqued by convertible senior notes, with 7% annual interest rates.

According to company execs, initially, Kohlberg Kravis Roberts would have provided the $400 million in refinancing dollars. Yet, it ended up only offering $300 million. They plan to buy senior secured notes at a 10-10.5% interest rate range. It could end up being a better deal in the end according to one analyst.

Kodak, like many companies, has experienced its own roller coaster ride of rises and falls in share prices.

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Tags: Debt, Debt Refinancing

With higher education costs on the rise, many people these days have several student loans. These are not just medical students with several loans, but average students at public universities. It can help for those trying to pay them off to consolidate student loans into one bill and thus one payment.
consolidating student loans,student loan consolidation,consolidation loan
With higher education costs on the rise, many people these days have several student loans. These are not just medical students with several loans, but average students at public universities. It can help for those trying to pay them off to consolidate student loans into one bill and thus one payment. There are many advantages to having one loan besides the single payment each month though. Read more…

Tags: Loans, Student Loans

JPMorgan Chase recently sold $2.53 billion in bonds that were backed by credit card payments. Apparently, the latest offering was increased from $2 billion without assistance from a Federal Reserve program that was aimed at stirring up the lending market.

Since the terms of the deal were not public, the only thing that was initially known was that the top-rated securities had a maturation rate of less than a year, and they were priced to yield 45 basis points more than the rate offered by the London interbank rate.

JPMorgan’s success illustrates the fact that more investors are interested in consumer loan-backed bond even a year after the market nearly collapsed. GE’s financial division also sold bonds backed by credit-card payments without the aid of the TALF program.

The point is that big name issuers have enough support to sell outside the TALF program while lesser brands or issuers will have a harder time getting the support to operate outside of government support.

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Tags: Card, Credit Card

With the recent doubling of movie-rental giant, Blockbuster’s private note offering, CEO and Chairman Jim Keyes believes that this shows a vote of confidence by investors for the company’s long-term business model.

The new source of financing provides Blockbuster with enough funding to replace its bank debt with a flexible payment schedule for future spending to help the company grow.

Keyes suggested in an interview that it provide an immediate solution by creating an alternative capital structure to pave the way for further transformations in Blockbuster.

Of course, this would also allow for a significantly smaller repayment amount for next year. Actually, it would be about $90 million rather than $397 million.

The sale is still set for October 1. A total of $675 million in senior secured notes goes on sale.

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Tags: Debt Offering, Offering