...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Institutional investor >Harrah's Weak Hand
【24h】

Harrah's Weak Hand

机译：哈拉斯的弱手

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Debt swaps are a fastgrowing business, as scores of companies struggling with massive obligations from the leveraged-buyout boom look to lighten their load. But the recent experience of Harrah's Entertainment, the Las Vegas-based gaming company taken private in January 2008 in a $31.2 billion buyout by Apollo Management and TPG Group, suggests that such engineering is no panacea for financial trouble.rnHarrah's, grappling with $25.1 billion in long-term debt, went to creditors in November to seek easier terms. The company ended up accepting $2.1 billion of debt that investors offered to swap, thereby helping reduce the odds of a cash squeeze in 2010. The offer, which was completed in December after some negotiation and revision, proposed that Harrah's buy back some of its longer-maturity bonds at prices ranging from 40 cents to 80 cents on the dollar. The deal essentially turned on whether creditors believed that a bankruptcy filing was imminent. In the end investors appeared skeptical that the company was that close to insolvency, and Harrah's ended up reducing its debt by $885 million, according to Chris Snow, an analyst at research firm CreditSights in New York.
机译：债务互换是一项快速增长的业务，因为数十家在杠杆收购热潮中难以承担巨额债务的公司希望减轻其负担。但是，总部位于拉斯维加斯的游戏公司Harrah's Entertainment在2008年1月被Apollo Management和TPG Group斥资312亿美元收购后私有化的最新经验表明，这种工程并不是解决财务问题的灵丹妙药。长期债务，11月去债权人寻求更宽松的条件。该公司最终接受了投资者提出的21亿美元的债务互换协议，从而帮助减少了2010年现金紧缩的可能性。该提议在经过一些谈判和修改后于12月完成，提议哈拉回购更长的债券。 -到期债券，价格从40美分到80美分不等。该交易从根本上取决于债权人是否认为即将申请破产。据研究机构CreditSights驻纽约的克里斯·斯诺（Chris Snow）说，最终，投资者似乎对该公司是否接近破产持怀疑态度，哈拉最终减少了8.85亿美元的债务。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号