| (AFX UK Focus) 2007-11-16 07:35 GMT: Serica Energy says agreed 100 mln usd debt facility
LONDON (Thomson Financial) - Oil and gas exploration company Serica Energy PLC said it has entered into a 100 mln usd senior secured debt facility with JP Morgan Chase Bank NA and the Bank of Scotland. The facility, which has an initial term of 12 months with the option to extend for a further six months, will be used to fund appraisal and development expenditures for the Kambuna field in Indonesia, the Columbus field in the UK North Sea, Bream field appraisal expenditure in Norway and general corporate purposes. TFN.newsdesk@thomson.com ans/ajb COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
(AFX UK Focus) 2007-11-14 09:12 GMT: HSBC sees higher Q3 profit as revenue growth offsets 3.4 bln usd US loan charge
LONDON (Thomson Financial) - HSBC Holdings PLC said third quarter profits will be ahead of a year ago, as a higher than expected 3.4 bln usd charge for US loan impairment was offset by revenue growth. The US loan impairment charge was some 1.4 bln usd higher than would have been expected if first half trends had continued, the bank said. The total included 0.7 bln usd related to US mortgages, with the remainder due largely to branch unsecured loans and cards portfolios. "Deterioration in US housing markets is affecting consumer finance credit quality more broadly than hitherto and loan impairment charges are expected to remain high in these conditions," the bank said. "There is the probability of further deterioration if the current housing market distress continues and further impacts the broader economy." The bank added that it suffered significant sub-prime writedowns since the end of the third quarter.
Call 4 Action: Your Information Could Be In Danger With Stores Using Wireless
A security firm that helps retailers protect your credit card information has discovered many stores are doing anything but. The firm found half of the retailers it tested are leaving some of your personal information out there for anyone to steal. So, how might this revelation affect your shopping plans? .
US banking group agrees on debt securities fund
Bankers from Citigroup Inc, JPMorgan Chase & Co and Bank of America Corp have agreed on how to structure a multibillion-dollar fund to buy distressed debt securities almost a month after they announced plans for it, a source familiar with the situation said. The bankers met on Friday to hammer out the details of how the fund will work, the source said, who asked not to be named because the details have not been publicly disclosed. Those details include how much specific participating banks will contribute. Before the plan takes effect, it must be approved by the banks' senior corporate officers, tax attorneys and ratings agencies. Meanwhile, some investors and industry watchers say the fund will only help the banks involved. The fund was the brainchild of Citigroup, which sees potential troubles in its structured investment vehicles (SIVs).
|
