Monday, 28 July 2014
Last updated 2 days ago
Mar 31 2010 | 2:31am ET
Pershing Square Capital Management will get paid after all tomorrow, as bookstore chain Borders Group nears a new financing deal.
The troubled retailer is close to arranging the financing to allow it to repay New York-based Pershing Square, Bloomberg News reports. The $42.5 million loan, made by the hedge fund two years ago, comes due tomorrow. Pershing Square, which is Borders’ largest shareholder, has already renegotiated the loan three times.
In February, Pershing Square chief William Ackman said there was only a “low possibility” of Ann Arbor, Mich.-based Borders filing for bankruptcy.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…