Wednesday, 6 May 2015
Last updated 6 hours ago
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.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…