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Stock Market & Financial Investment News

News Breaks
October 10, 2012
08:15 EDTHRGHarbinger's insurance sub FGL executes $295M reserve credit facility
Harbinger Group announced the closing of a $295M reserve credit facility between Nomura Bank International and HGI's primary insurance company, Fidelity & Guaranty Life, or FGL. The facility replaces a seller-provided facility put in place under the stock purchase agreement entered into between a subsidiary of HGI and Old Mutual plc for the acquisition of FGL. Under the terms of the reserve credit facility agreement, Nomura will provide Raven Re, a wholly-owned subsidiary of FGL, with a five-year facility at a lower financing cost to recapture business that was previously ceded to Old Mutual Reassurance Ireland Ltd. Under the terms of the stock purchase agreement between HGI and Old Mutual, HGI was required to recapture this ceded business by Dec. 31, 2015.
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July 14, 2014
14:43 EDTHRGDISH's Ergen, LightSquared resolve legal dispute, Reuters says
LightSquared, a bankrupt wireless venture owned by Phil Falcone’s Harbinger Capital Partners, and Dish Network Chairman Charles Ergen have resolved a legal dispute in which LightSquared had accused Ergen of trying to surreptitiously gain control of the company, says Reuters. Reference Link
July 12, 2014
13:05 EDTHRGHarbinger Group sues U.S. over breached LightSquared agreements, WSJ says
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