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News Breaks | | | | February 28, 2013 | | 06:38 EDT |  | BX, C | Blackstone profits from regulation, Bloomberg reports
Blackstone Group (BX) found a way to profit from regulation: It’s helping banks meet tougher capital rules without having to sell assets or raise equity, reports Bloomberg. For example, the firm insured Citigroup (C) last year against any initial losses on a $1.2B pool of shipping loans, sources say. The regulatory capital trade, Blackstone’s first, will let Citigroup cut how much it sets aside to cover defaults by as much as 96%, while keeping the loans on its balance sheet, the sources added. “It’s a form of financial engineering,” says Philippe Bodereau, London-based head of European credit research at PIMCO. “It was dead but it seems to be coming back as investors scramble for yield. If you saw this on a massive scale, you would certainly question whether this was the best way for regulators to de-risk the system.” Reference Link | |
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News For BX;C From The Last 14 Days Check below for free stories on BX;C the last two weeks. |
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| May 16, 2013 | | 08:33 EDT |  | C | BofA/Merrill's gobal financial analysts hold an analyst/industry conference call
Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. | | | 07:18 EDT | | C | Investors bet on banks hit by credit crisis, Bloomberg reports
 Subscribe for More Information | | | 07:11 EDT | | BX | Some asset managers want investors to buy their shares, Reuters reports
Subscribe for More Information | | | 06:41 EDT | | C | Big banks to benefit from U.S. concession on derivatives, NY Times says
Subscribe for More Information | | | 06:08 EDT | | BX | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 15, 2013 | | 17:03 EDT |  | C | Soros gives quarterly update on stakes
NEW STAKES: MeadWestvaco (MWV), Brocade (BRCD), Red Hat (RHT), Liberty Global (LBTYK), and VMware (VMW). INCREASED STAKES: Google (GOOG), Liberty Global (LBTYA), EQT Corp (EQT), Charter (CHTR), and US Airways (LCC). DECREASED STAKES: Citigroup (C), AIG (AIG), Apple (AAPL), Invesco (IVZ), and Motorola Solutions (MSI). LIQUIDATED STAKES: JPMorgan (JPM), General Electric (GE), CF Industries (CF), Morgan Stanley (MS), and Capital One (COF). | | | 16:09 EDT | | BX | DDR Corp. acquires select prime power centers from its Blackstone JV for $1.46B
DDR Corp. (DDR) announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII (BX). The acquisition, which is expected to close in Q4 subject to customary closing conditions, will significantly increase DDR's cash flow generated by very high quality, large format prime power centers located in top MSA's in the United States. The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR has executed a purchase and sale agreement to acquire Blackstone's 95% common equity ownership interest in 30 of these shopping centers for $1.46B. DDR intends to fund this acquisition through a combination of the assumption of $398M in existing debt, nearly $150M from the repayment of preferred equity and mezzanine loans previously funded by DDR and proceeds from the issuance of common equity and unsecured debt. As part of the consideration, DDR has the right, subject to certain conditions, to issue common shares to Blackstone in an amount not to exceed $250M. | | | 16:07 EDT | | BX | DDR Corp. acquires select prime power centers from its Blackstone JV for $1.46B
Subscribe for More Information | | | 16:02 EDT |  | C | Options Update; May 15, 2013
Subscribe for More Information | | | 15:32 EDT | | C | Citigroup April net charge-offs 3.11% vs. 3.19% last month
Citigroup April delinquencies 2.1% vs. 2.17% last month | | | | 11:48 EDT | | C | Appaloosa reports new stakes in Comcast, Ashland, sells Oracle
David Tepper's Appaloosa in its quarterly filing report new positions in Comcast (CMCSA), Prudential (PRU), Hess Corp. (HES), Check Point (CHKP), KBR (KBR) and Ashland (ASH). The fund sold its stakes in Oracle (ORCL) and Noble Corp. (NE). Appaloosa's top position is in Citigroup (C), with a stake worth over $376.9M. | | | 07:11 EDT | | BX | Some buyout firms move beyond buyouts, WSJ reports
Subscribe for More Information | | | 06:08 EDT | | BX | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 14, 2013 | | 18:28 EDT | | C | Citi announces sale of Credicard to Banco Itaú Unibanco
Subscribe for More Information | | | 16:00 EDT | | C | Options Update; May 14, 2013
Subscribe for More Information | | | 08:33 EDT | | C | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link | | | 08:18 EDT | | C | David Tepper says Citigroup position 'more than twice' Apple stake
Subscribe for More Information | | | 08:10 EDT | | C | David Tepper says biggest position remains Citigroup
Subscribe for More Information | | | 08:10 EDT | | C | David Tepper says biggest position remains Citigroup
Subscribe for More Information | | | 05:44 EDT | | BX | Banks work deals from both sides of the field, WSJ reports
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