Friday, 22 August 2014
Last updated 11 hours ago
May 19 2009 | 2:01am ET
GLG Partners yesterday announced that it sold US$214 million in convertible bonds as part of its effort to pay down its debt.
The London-based, New York-listed hedge fund used the proceeds to buy about US$285 million of outstanding loans. The firm had agreed to cut its debt and buy back loans as part of a deal with creditors to eliminate covenants in its credit agreements. One of those covenants, with Citigroup, would have been violated when GLG’s assets sank below US$15 billion this year.
GLG’s principals, Noam Gottseman, Pierre Lagrange and Emmanuel Roman, bought a combined US$30 million of the notes, GLG said in a statement.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note