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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of