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Motor Coach Industries International Files Plan of Reorganization 1 Citation Motor Coach Industries International, Inc. has filed its first amended proposed plan of reorganization and accompanying disclosure statement. The disclosure statement expresses the debtors? view that the plan would significantly deleverage the company?s balance sheet by paying $160 million of second lien obligations in full and discharging $480 million in pre-bankruptcy indebtedness. The plan would also reduce the company?s interest expense, thereby improving cash flow and generate $160 mill, technorati.com
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GMAC gets $6 billion to support auto lending 1 Citation The U.S. Treasury Department said last night that it will purchase a $5 billion stake in GMAC LLC ?as part of a broader program to assist the domestic automotive industry in becoming financially viable.? The move is seen as a move aimed at easing the worst credit crisis since the 1930s. As a part of the purchase, the government is lending GM another $1 billion to GM so it can participate in a rights offering at GMAC connected to the company?s move to become a bank holding company. The $1 bil, technorati.com
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STOCKS NEWS US-HSBC tumbles in premarket after rights offering - Reuters UK 1 Citation STOCKS NEWS US-HSBC tumbles in premarket after rights offering Reuters UK, UK The company also said it would shut most of its US consumer lending business, cutting 6100 jobs. In the rights issue, HSBC said it would sell 5.1 billion shares at 254 pence each, a 48 percent discount to Friday?s closing price on the London exchange. ? Source: STOCKS NEWS US-HSBC tumbles in premarket after rights offering - Reuters UKOther Related ItemsNEW YORK, March 2 (Reuters) - Some US stocks to watch on Monday: -, technorati.com
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HSBC Rights On The Money - Forbes 1 Citation BBC News HSBC Rights On The MoneyForbesInvestors take up 96.6% of shares in lender's rights issue, giving it $17.7 billion in much-needed capital. HSBC shareholders have given the bank a $17.7 billion cash cushion to weather the downturn, cover potential custody liabilities in the Bernard ?HSBC raises almost $18 billion in rights offering MarketWatchHK shares rise 3.4 pct;HSBC, properties outperform ReutersNew York Times - Wall Street Journal - BusinessWeek - Telegraph.co.ukall 156 news artic, technorati.com
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