Morgan Stanley, Dean Witter & Co. and Loan Pricing Corp. are offering
The syndication, expected to close Thursday, combines electronic
Ziff-Davis is undergoing a financial reorganization, and its debt
The deal's lead arranger and administrative agent is Bank of New York
In the handful of previous Internet syndications, borrowers and agents
Loan Pricing has offered $5 billion through Internet syndications.
The largest offering to date was $2.25 billion for Loan Pricing's
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
