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Search resuls for: "Guarantors"


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☆ Monte dei Paschi to pay 125 million euros in fees for share sale
  + stars: | 2022-10-15 | by ( Valentina Za | ) www.reuters.com   time to read: +3 min
MILAN, Oct 15 (Reuters) - Italy's Monte dei Paschi di Siena (MPS) (BMPS.MI) said a new share sale to raise up to 2.5 billion euros ($2.4 billion) would cost it 125 million euros in fees to financial institutions backstopping the issue. Register now for FREE unlimited access to Reuters.com RegisterAfter difficult negotiations that risked derailing the capital raising, the eight banks have agreed to guarantee the share issue for up to 807 million euros. Algebris is backstopping up to another 50 million euros. The fees amount to nearly 15% of the guaranteed sum and compare with a market value of just 99.8 million euros for MPS on Friday. The cost of the capital increase, which totals 132 million euros, would shave 15 basis points off that target, MPS said.
☆ U.S. rents surge, leaving behind generation of younger workers
  + stars: | 2022-09-21 | by ( Rose Horowitch | ) www.reuters.com   time to read: +6 min
REUTERS/Amr AlfikySept 21 (Reuters) - The cost of renting a home in the United States is surging and young workers have felt the sharpest pain, many of them taking on additional jobs or roommates to afford housing costs. Household rents in 2021 jumped 10% from pre-pandemic levels, according to Census Bureau estimates released last week. The 23-year-old spent a year in an apartment in New York City's Queens borough with a door that wouldn’t lock. Recent college graduate Caleb Seamon, 22, started delivering for Uber Eats alongside his full-time job at a think-tank to afford housing. Even so, Seamon says he only found a New York apartment because one of his roommate's parents acted as guarantors.
☆ Barbados issues world's first pandemic-protected bond
  + stars: | 2022-09-21 | by ( Marc Jones | ) www.reuters.com   time to read: +4 min
Barbados' new bond - finalised in a deal with bankers on Wednesday - is likely to leave an even bigger imprint, especially with smaller, tourism-dependent countries that were pushed to the brink of economic collapse during the COVID-19 pandemic. "And hence we would not be facing the kind of debt crises that many countries are about to face". Credit Suisse banker Ramzi Issa, who led on some of the key financing aspects on the bond deal which involved a buyback, said it was "hugely significant". "It is like a dose of vaccine for your debt," said Sui-Jim Ho, a partner at Cleary Gottlieb - the law firm that helped craft the clause for Barbados. The bond deal has an ecological feature too.
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