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Fitch Rates Bank of America's FDIC Guaranteed Debt 'AAA/F1+'

NEW YORK, Dec 01, 2008 (BUSINESS WIRE) -- Fitch Ratings has assigned 'AAA/F1+' ratings to debt issued by Bank of America Corporation (BAC) under the FDIC Temporary Liquidity Guarantee Program (TLGP). Specifically, BAC has issued $9 billion of senior unsecured debt under the TLGP. Debt issues mature between December 2010 and June 30, 2012, and consist of both fixed-rate and floating-rate tranches. Obligations under the TLGP bear the full faith and credit of the U.S. Government. The maximum amount eligible under the TLGP is 125% of senior unsecured debt outstanding at Sept. 30, 2008 and scheduled to mature by June 30, 2009. The FDIC guarantees expire at the earlier of the instrument's maturity or June 30, 2012. Proceeds will be used for general corporate purposes.

Italy's Seat PG seeks flexibility from RBS on debt

MILAN, Dec 4 (Reuters) - Debt-laden Seat Pagine Gialle SpA has asked top creditor Royal Bank of Scotland for a 20 percent flexibility margin on the main covenants of a senior credit line, the Italian directories company said on Thursday. In exchange, Seat would limit the possibility for dividends 'until the total net debt/EBITDA ratio (after dividends' payment) will be over 4x,' the yellow-pages company said in a statement. Seat is labouring under 3 billion euros ($3.79 billion) in debt. It said on Monday it had started renegotiations with Royal Bank of Scotland, its largest creditor at nearly 1.57 billion euros at the end of September. If the bank accepts the request, Seat's board would weigh a capital increase of 200 million euros, it said.

Fitch Rates Citigroup's FDIC Guaranteed Debt 'AAA/F1+'

NEW YORK (Business Wire) -- Fitch Ratings has assigned 'AAA/F1+' ratings to debt issued by Citigroup Inc. through the FDIC Temporary Liquidity Guarantee Program (TLGP). Outstanding obligations under the TLGP bear the full faith and credit of the U.S. Government. The maximum amount guaranteed equals 125% of senior, unsecured debt outstanding at Sept. 30, 2008 scheduled to mature by June 30, 2009. Eligible debt is guaranteed until June 30, 2012. Notes can be issued in U.S. Dollars or foreign currency.

PRESS DIGEST - British business press - Nov 9

William Hill has entered into talks with its banks about refinancing 1.2 billion pounds of its debt. The bookmaker has also appointed debt-advisory specialists to assist in the discussions which it hopes to conclude by the time of its preliminary results in February. Shares in William Hill have fallen by more that 60 percent over the past year, largely over concerns about its debt exposure. The company is valued at 726 million pounds against debt of 1.4 billion pounds, 1.2 billion of which matures in 2010.

FDIC debt plan may spur $50 bln/month issuance-BofA

NEW YORK, Nov 21 (Reuters) - Changes being mulled to an FDIC debt guarantee program for U.S. banks could smooth the way for several hundred billion dollars of top-rated bank debt issuance, Bank of America said in a new report.

UPDATE 1-FDIC plan may spur debt issuance by banks -BofA

NEW YORK, Nov 21 (Reuters) - Changes to an FDIC debt guarantee program for U.S. banks could smooth the way for several hundred billion dollars of top-rated bank debt issuance, Bank of America said in a new report.

Fannie Mae, Freddie Mac and FHLB equal $6.8 Trillion US Debt

Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) along with 12-member Federal Home Loan Bank system (FHLB) controls a whopping $6.8 trillion of US debt, this amounts to more than half of the total US government debt which stands at $10.6 trillion, according to a report by the Federal Housing Finance Agency.

Tech Ticker: Hewlett-Packard; TiVo-Dish Network; Electronic Arts

Hewlett-Packard raised $2 billion in the debt market to help fund its $13.2 billion purchase of Electronic Data Systems, adding to record corporate bond offerings by technology companies this year. HP paid a yield of 4.6 percentage points over Treasuries of similar maturity to issue 6.125 percent notes due in March 2014, according to data compiled by Bloomberg. That's a premium of about 1.2 percentage points more than where similar Hewlett-Packard debt traded Monday. Sales of bonds by technology borrowers have surged 45 percent this year to the most ever and are equal to almost four times the 2006 tally, Bloomberg data show. That compares with a 30 percent decline for all U.S. corporate debt. HP, IBM and Microsoft are turning to the bond market even as spreads widen to records.

Philippine Debt-Caution ahead of c.bank rate meeting

MANILA, Nov 17 (Reuters) - Philippine debt yields are seen shackled to a tight range for most of the week because of uncertainty over whether the central bank will cut interest rates on Thursday following a reduction in bank reserve requirements.

Philippine Debt-Yields seen rangebound, c.bank moves eyed

MANILA, Nov 3 (Reuters) - Philippine debt yields are seen trading in a narrow range this week after dropping 100-200 basis points across the board last week on central bank comments it was studying more measures aimed to shore up market liquidity.

Bank debt exposure to ABC at $762m

Commonwealth Bank of Australia Ltd (CBA) confirmed on Friday it has a debt exposure to childcare operator ABC Learning Centres Ltd of around $240 million, taking the total confirmed exposure of the major banks to an estimated $762 million.

As debt grows, collections boom

The weakening economy has hit consumers hard and debts are piling up, fueling a demand for more debt collectors.

London Scottish Bank mulls selling debt collection unit

London Scottish Bank is considering selling its debt collection division and closing its lending and other businesses after failing to find a buyer for the whole thing, the Sunday Express reported. Skip related content

Foreign central banks' U.S. debt holdings fell -Fed [XFNA]

NEW YORK, Nov 28 (Reuters) - Foreign central bank holdings of U.S. debt fell last week, Federal Reserve data showed on Friday.

Foreign central banks' U.S. debt holdings fell -Fed

NEW YORK, Nov 28 (Reuters) - Foreign central bank holdings of U.S. debt fell last week, Federal Reserve data showed on Friday.

Best Buy sinks after debt downgrade

CHICAGO (AP) -- Shares of Best Buy Co. Inc. reached a five-year intraday low on Wednesday, a day after the consumer electronic chain's debt rating was lowered.

FDIC OKs Backing for Bank Debt, Deposits

The FDIC will guarantee up to $1.4 trillion in U.S. banks' debt for more than three years as part of the government's financial rescue plan.

Security Bank completes debt offer

SECURITY BANK CORP. yesterday said it has completed the issuance of peso-denominated Tier 2 notes, enabling it to raise funds that should allow it to retire P3 billion worth of outstanding Tier 2 debt ahead of schedule.

London Scottish Bank mulls selling debt collection unit -paper

LONDON, Oct 26 (Reuters) - Britain's London Scottish Bank Plc (LSB.L: Quote, Profile, Research) is considering selling its debt collection division and closing its lending and other businesses after failing to find a buyer for the whole thing, the Sunday Express reported.

Standard & Poor's assigns eBay an 'A-' debt rating

The rating agency Standard & Poor's assigned an "A-" debt rating to online auctioneer eBay Inc. on Monday, citing the company's well-established Internet brand as well as strong cash flow and liquidity.

Pininfarina offers stake to banks, awaits debt deal

MILAN, Nov 12 (Reuters) - Italian car designer Pininfarina has secured an extension on a moratorium on debt payments to the end of the year, it said in a statement on Wednesday.

BCE takeover banks preparing to market debt in coming weeks, says analyst

MONTREAL - The banks funding the takeover of BCE Inc. (TSX:BCE) are preparing to sell the debt needed to pay for the deal in coming weeks, but extreme market volatility could still delay the deal's closing, telecom analysts said Friday.

UPDATE 1-Spain to guarantee 100 bln euros bank debt in 2009

MADRID, Oct 28 (Reuters) - The government will guarantee bank debt up to a maximum of 100 billion euros ($125 billion) in 2009, Economy Secretary David Vegara said on Tuesday.

US to guarantee $1.4T in bank debt

WASHINGTON _ Federal regulators will guarantee as much as $1.4 trillion in US banks' debt in a bid to get the distressed financial system pumping again. They also took steps to make it easier for private investors to buy failed banks seized by the government.

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