Tuesday, 23 September 2014
Last updated 13 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.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.