DEAL DISCOURSE
September 26, 2011
Tranche Dealfare | Car rental company Avis Budget has opted to eliminate most of the term loan A tranche of its $900M credit facility and replace it with more expensive, unsecured financing in the high yield bond market
Overseeing the Rogues Gallery | UBS AG announced that CEO Oswald Gruebel resigned in the wake of the firm losing more than $2.3B in a rogue trading incident
Yankee It Out of There... | Building a new hotel and conference center next to Yankee Stadium would require demolition of a parking garage that helps back a troubled parking revenue bond deal
Spilling the Beans | In veering away from M&A, Discover Financial Services looks to develop new products of its own. Chief executive David Nelms elaborated on the details during a Sept. 22 conference call, but later told sister publication American Banker, "I'm kind of sorry I mentioned it at all!"
10 Comments
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