Friday, 30 January 2015
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.”
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…