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July 12, 2020
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Corporate Debt Renegotiation

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Wirecard faces loan crunch over missing $2.1 billion

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BERLIN (Reuters) – Wirecard’s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending the German payments firm’s shares down over 60% on Thursday as it warned the delay could cause billions in loans to be called in as early as Friday. FILE PHOTO: An......
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Exclusive: Chesapeake Energy to file for bankruptcy as soon as this week: sources

Reuters
Chesapeake Energy Corporation’s 50 acre campus is seen in Oklahoma City, Oklahoma, April 17, 2012. From a single 6,000-square-foot building in 1989, the multi-building complex today contains almost one million square feet of office space and includes employee perks like on-site Botox treatments at the headquarters. Chesapeake Energy Corp. CEO......
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LATAM Airlines bondholders in talks to supply up to $1.5 billion loan, sources say

Reuters
FILE PHOTO: The departures area of Lan airlines is seen empty inside the international airport, during an indefinite strike of the Cabin Crew Union of LAN Express, a subsidiary of the Chile-based LATAM Airlines group, Santiago, Chile April 10, 2018. REUTERS/Rodrigo Garrido SAO PAULO (Reuters) – A group of bondholders......
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Unilever plans switch to UK holding company to cut complexity

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(Reuters) – Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands. FILE PHOTO: Traffic and people pass by the front of the Unilever building in central......
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GE reopens parts of prior debt offerings to raise $3 billion

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FILE PHOTO: The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. REUTERS/Alwyn Scott (Reuters) – General Electric Co (GE.N) said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its......
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PG&E Corp preparing $11 billion debt financing: investor

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(Reuters) – California utility PG&E Corp (PCG.N) is preparing an $11 billion debt-financing package as it prepares to exit from its bankruptcy, an investor involved with the company’s funding plan said on Friday, sending its shares up more than 12%. FILE PHOTO: PG&E works on power lines to repair damage......
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Cafe Rouge, Bella Italia could see nearly a third of outlets closed: sources

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LONDON (Reuters) – Britain’s high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis. FILE PHOTO: A worker packs away tables and......
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Renault finalises 5 billion euro state-backed loan

Reuters
A Renault car is seen in a show room at a Renault carmaker dealer, amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – Renault (RENA.PA) finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the......
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French Finance Minister: Renault loan not signed yet, but should be soon

Reuters
A customer walks near a vehicle at a Renault carmaker dealer amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Tuesday the government had not yet signed off on a planned 5 billion euro......
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Sale of shut Philly refinery to real estate developer delayed

Reuters
NEW YORK (Reuters) – The closing of a $252 million sale of the Philadelphia Energy Solutions (PES) oil refinery to a Chicago-based real estate developer has been delayed, a city official and source with knowledge of the agreement said on Friday. FILE PHOTO: Sun sets on the Philadelphia Energy Solutions......
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LATAM becomes largest airline yet driven to bankruptcy by coronavirus

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(Reuters) – Chile’s LATAM Airlines Group (LTM.SN) filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic. FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November......
Reuters - Business

LATAM becomes largest airline driven to bankruptcy by coronavirus

Reuters
SAO PAULO (Reuters) – Chile’s LATAM Airlines Group SA (LTM.SN) filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization amid the coronavirus pandemic. FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus plane in Colomiers near Toulouse,......
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LATAM becomes largest airline to file for bankruptcy amid coronavirus

Reuters
(Reuters) – LATAM Airlines Group SA (LTM.SN) filed for U.S. bankruptcy protection on Tuesday, becoming the largest carrier to seek an emergency reorganization amid the coronavirus crisis. FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November 6, 2018. REUTERS/Regis Duvignau......
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Latin America’s largest airline LATAM files for U.S. bankruptcy protection

Reuters
(Reuters) – Latin America’s largest airline LATAM Airlines Group SA (LTM.SN) said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection in the United States. FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus......
Reuters - Business

Chile’s Latam Airlines Group hires PJT Partners to restructure debt: report

Reuters
FILE PHOTO: LATAM airlines logo, is seen inside of the Commodore Arturo Merino Benitez International Airport in Santiago, Chile April 25, 2019. REUTERS/Rodrigo Garrido SAO PAULO (Reuters) – Chile’s Latam Airlines Group SA (LTM.SN) has hired U.S. investment boutique PJT Partners to explore debt restructuring options that may include bankruptcy......
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Germany stamps authority on Lufthansa with $9.8 billion lifeline

Reuters
FRANKFURT/BERLIN (Reuters) – Germany threw Lufthansa (LHAG.DE) a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline. FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread......
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Lufthansa says Germany approves stabilization package

Reuters
FILE PHOTO: A Lufthansa Airbus A320-200 plane is seen on the tarmac at the Lyon-Saint-Exupery airport in Colombier-Saugnieu near Lyon, France, March 14, 2019. REUTERS/Emmanuel Foudrot/File Photo FRANKFURT (Reuters) – Germany’s new Economic Stabilization Fund (WSF) has approved a 9 billion euro ($9.80 billion) stabilization package for Lufthansa (LHAG.DE), Germany’s......
Reuters - Business

Lufthansa, German government agree on $9.8 billion rescue package: sources

Reuters
FRANKFURT/BERLIN (Reuters) – The German government and the management of flagship carrier Lufthansa (LHAG.DE), which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout, two people close to the matter said. FILE PHOTO: Aircraft of the German carrier......
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Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic

Reuters
NEW YORK (Reuters) – The more than a century old car rental firm Hertz Global Holdings Inc (HTZ.N) filed for bankruptcy protection on Friday after its business all but vanished during the coronavirus pandemic and talks with creditors failed to result in needed relief. FILE PHOTO: A Hertz rental car......
Reuters - Business

Hertz preparing to file for bankruptcy as soon as Friday night: WSJ

Reuters
FILE PHOTO: Logos of car rental company Hertz are seen outside Paris Charles de Gaulle airport in Roissy-en-France during the outbreak of the coronavirus disease (COVID-19) in France May 19, 2020. REUTERS/Charles Platiau (Reuters) – Hertz Global Holdings Inc (HTZ.N) is preparing to file for bankruptcy as soon as Friday......

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