MF Global In Convertible-Debt Talks With Private Equity Firms

Apr 25 2008 | 11:38am ET

MF Global, the former derivatives brokerage of Man Group, is turning to its last resort.

The firm, beset with losses and a plummeting stock price since a trader lost $141.5 million on “unauthorized” wheat trades in February, is in talks with private equity firms about selling $200 million in convertible debt.

MF Global has approached at least three p.e. firms, Bloomberg News reports, and is being advised by Lazard.

In the wake of the wheat trading loss, MF Global CEO Kevin Davis said the firm was reluctant to issue convertible bonds.

“We have no plans to issue convertible debt,” Davis said on Feb. 28. “We would regard that as being a last result.”


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of