| Fiserv details $1.75B debt offering
Fiserv Inc. said late Thursday that its recently announced public offering of debt will amount to $1.75 billion that will be used to help pay for its $4.4 billion acquisition of CheckFree Corp. Fiserv (NASDAQ: FISV), a Brookfield financial technology company, is selling $1.25 billion of senior notes that mature in 2012 and bear interest at a rate of 6.125 percent, and $500 million of senior notes that mature in 2017 and bear interest at a rate of 6.8 percent. The offering is expected to close Nov. 20. The Senior Notes have been assigned ratings of Baa2 with a stable outlook by Moody's Investors Service Inc. and BBB with a negative outlook by Standard & Poor's Ratings Services. Credit Suisse, Wachovia Securities and JPMorgan are acting as joint book-running managers for the offering.
Euro Disney S.C.A.: Reports Annual Results for Fiscal Year 2007
LA-VALLEE, France, November 8 /PRNewswire-FirstCall/ -- - Revenues Increased 12% to EUR 1,220 Million, Reflecting Volume Growth in Theme Parks Attendance and Hotel Occupancy - Operating Margin at EUR 51 Million, Against a Prior Year Loss of EUR 2 Million .
(AFX UK Focus) 2007-11-13 21:48 GMT: Market Spotlight: Credit Card Securities
NEW YORK (AP) - Despite a swoon in the asset-backed securities market, credit card-backed bonds are thriving, as issuers are able to break them up and sell only quality pieces. Asset-backed securities are bonds sold in parts to investors. Each is backed by a pool of different types of assets, ranging from subprime mortgages -- loans given to customers with poor credit history -- or student loans to credit card debt. Typically within each security, there are varying grades of assets rated from the highest of "AAA" down to "B" or lower. Investors have fled from purchasing debt considered high-risk in recent months as more customers default on loans -- especially subprime mortgages given to people with poor credit history -- leaving the asset-backed securities market a shell of its self from earlier in the year.
Credit Card Fraud Firms Combine Trading Markets
Nov 14 2007 : The 3rd Man Group, which protects retailers and consumers from card-not-present (CNP) fraud, has acquired online credit card fraud company, Early Warning UK. Chobham, Surrey-based the 3rd Man did not disclose the purchase price. Early Warning's CardAware database will be combined with the 3rd Man's SuperSearch system, which enables retailers to share information on high-risk transactions. Established by Internet fraud victim Andrew Goodwill in 2002, Early Warning UK enables online retailers to post details of actual or attempted e-crimes on CardAware. Retailers can also search CardAware to see if others have had similar fraud experiences. Fraudsters are subsequently exposed through a network of data sharing, Early Warning says. The 3rd Man provides fraud screening services to over 18,000 retailers, and says it collectively saves its clients around �10 million (US$20 million) a month.
Nigeria: Army Apologises for Zaki Biam
Seven years since the 2001 sacking of Zaki Biam and six other towns in Benue State by irate soldiers, the Nigeria Army high command yesterday offered a public apology. Chief of Army Staff (COAS) Lt. General Luka Yusuf begged for forgiveness from the people of Benue State. He spoke at the J.S. Tarka Foundation in Makurdi during the opening ceremony of the Chief of Army Staff Annual Conference 2007, which began yesterday. The Army Chief's apologies were tendered in the presence of President Umar Yar'adua, Benue State governor Gabriel Tor-Suswam and his colleagues from Nasarawa, Ebonyi and Enugu states, as well as four ministers, National Assembly members, other military service chiefs and paramount rulers from Benue State. Yusuf said, "I want to use this opportunity to sincerely appeal to the people of Benue State to understand that the Army has no intention to make anybody lose sleep".
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