Fund's partners face financial peril for raising long-term capital stakes

Article Abstract:

UBS AG has incurred losses worth $685.9 million via an equity warrant it provided Long-Term Capital Management PLC and its partners. Under the terms of the warrant, Long-Term Capital founder John Meriwether and his 15 partners offered $250 million to purchase a seven-year warrant from UBS that provided them an equity stake worth $750 million in fund. The equity warrant from UBS enabled Long-Term and its partners to increase their own personal equity investments which decreased when the fund experienced financial difficulties in September 1998.

Comment:

Incurs losses worth $685.9 mil via an equity warrant it provided Long-Term Capital Management PLC & its partners

Commercial Banks, Commercial Banking, Sales, profits & dividends, Switzerland, UBS AG, Article

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Bond offering by British Land is a U.K. record

Article Abstract:

British Land Co. issued up to 1.54 billion pound sterling ($2.51 billion) in bonds in one of the largest such offerings ever by a British firm. British Land's bonds are supported by rental payments from the company's London Broadgate Centre. The offering is also the largest securitization of assets that have been denominated in sterling. It is also the largest commercial real-estate securitization in history.

Comment:

Issues up to 1.54 billion pound sterling ($2.51 billion) in bonds

United Kingdom, Land Subdivision and Land Development, Subdividers & Developers, Securities issued, listed, Real estate developers, Abstract, Securities, British Land Co.

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A stronger Yuan will have broad reach

Article Abstract:

China's Yuan currency needs to be revalued according to financial analysts and is currently pegged at 8.28 to the Dollar since 1994. Companies that would prosper are ones the sell a lot into Asia, including clothing, semiconductors, consumer products and Hong Kong banks. If China doesn't legislate global financial markets could suffer.

China, Government expenditures, Commodity & service prices, Prices and rates, Economic policy, Company pricing policy, Global economy, Yuan (China)

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