Postmedia Network Canada Corp, Canada's biggest newspaper publisher, said it had reached a deal with some bondholders that would reduce its debt by $307 million, as it posted a third-quarter loss, Reuters reported. It signed support deals with its biggest investors, including first-lien holder Canso Investment Counsel Inc, certain second-lien holders of around 80 percent of outstanding 12.5 percent notes due in mid-2018, and holders of around 75 percent of the company's shares. Postmedia launched a strategic review in April, looking to sell assets and restructure its debt load as it struggles with falling print advertising revenues.
2 min read · 07 July 2016
Canadian oil producer Paramount Resources Ltd agreed to sell some of its Deep Basin oil and gas properties in Alberta to Seven Generations Energy Ltd for about $1.9 billion, Reuters reported. The divestiture is the latest example of struggling oil and gas producers selling off assets in a bid to survive the global crude price rout. Upon deal closure, Paramount will own a stake of about 10 percent in the Calgary natural gas developer, making it the second-largest shareholder after the Canada Pension Plan Investment Board.
2 min read · 07 July 2016
Canada's biggest pension funds are prepared to finance the construction of major new federal government infrastructure projects, according to senior fund sources, marking a shift from their traditional strategy of avoiding development risk, Reuters reported. Officials with the top funds, which manage $1.1 trillion in assets, are seeking to reduce that risk, telling the Canadian government they would like it to provide guarantees on future returns and assurances on costs.
3 min read · 06 July 2016
Former Wall Street executive Andrew Caspersen pleaded guilty on Wednesday to charges that he tried to defraud investors including friends and family members out of nearly $150 million, conduct that his lawyer has blamed on a gambling addiction, Reuters reported.
1 min read · 06 July 2016
India's Bigtree Entertainment Pvt Ltd, owner of online movie and events ticketing portal BookMyShow, said it had raised 5.5 billion rupees ($81.63 million) in funding from a group of investors, led by U.S.-based private equity Stripes Group.
1 min read · 06 July 2016
The planned stock market listing of UK auto parts supplier TI Automotive, a potential 3 billion euro ($3.3 billion) deal, is facing a delay due to volatility triggered by Britain's vote to leave the European Union, sources told Reuters.
2 min read · 06 July 2016
Lending to U.S. mid-sized companies is poised to increase in the second half of 2016 as lenders report a growing pipeline of M&A deals and expectations for a push ahead of the U.S. election, market participants told Thomson Reuters LPC.
5 min read · 06 July 2016
As part of plans for an up-to-$10 billion initial public offering, Postal Savings Bank of China (PSBC) aims to transform itself from a brick-and-mortar lender into a digital player, helped by its investors Ant Financial and Tencent Holdings, Reuters News reported.
3 min read · 06 July 2016
U.S. biotech company Monsanto Co and Microsoft Corp announced on Monday a partnership to invest in agricultural technology startups in Brazil.
1 min read · 05 July 2016
Hostess Brands LLC, the maker of Twinkies and Ding Dongs, said an affiliate of private equity firm Gores Group will buy the company in a $725 million deal and take it public.
2 min read · 05 July 2016
