| Academic Financial Solutions Advises Recent Graduates Not to Delay on College Loan Consolidation
Leading student loan debt consolidation company, Academic Financial Solutions, recommends college loan consolidation before the six month grace period expires in November. Tampa, FL (PRWEB) November 5, 2007 -- Academic Financial Solutions, a leading student loan debt consolidation company based in Tampa, Florida, alerts college graduates who graduated last May or June not to delay on college loan consolidation. �Waiting to consolidate will be costly,� says Michael Babb, President of Academic Financial Solutions. �Many student loan borrowers don�t realize that their six-month grace period is expiring until it�s too late and lenders begin demanding repayment. It�s really an unfortunate situation. Many borrowers get caught up in transitioning from college life to finding a job, a place to live and other immediate necessities and lose track of the timing of their repayment obligations.
Retail Food raising $44m
QUEENSLAND-based Retail Food Group has announced details of its $44 million capital raising to help fund the recent acquisition of Michel's Group on the heels of the Brumby's purchase. Retail Food has received commitments for a placement of 24 million ordinary shares at $1.85 per share to raise $44.4 million before costs. Participants in the placement represent a range of institutional and private investors with all existing institutional shareholders taking part. RFG chief executive Tony Alford said funds raised would go toward the Michel's acquisition and also pay down debt associated with the recent purchase of Brumby's. "We are extremely pleased with the significant interest and response received in connection with the placement and the good support the company has recently enjoyed in respect of its industry consolidation aspirations and acquisition activity," he said.
Royal Bank takes $360M charge on subprime, softens impact with $325M Visa gain
TORONTO - Royal Bank of Canada (TSX:RY) says it will record a $360-million charge related to losses in the U.S. subprime mortgage market, but will also post a $325-million gain for Visa credit card restructuring. Canada's largest bank said Tuesday it "expects its fourth-quarter earnings to be only modestly affected by these items due to largely offsetting impacts." The charge comes to about $160 million after tax, including compensation adjustments. Royal will record the charge on collateralized debt obligations and residential mortgage-backed securities in its capital markets segment, and the gain in its banking segment. After tax, the Visa gain amounts to about $270 million but will be partly offset by a $120-million pretax charge, or $80 million after tax, relating to an increase in its customer loyalty reward program liability.
A Chain Reaction in Shaky Debt?
As exotic CDOs topple, the impact could ripple through debt markets and wallop more funds and banks
The fate of one exotic security may signal more trouble ahead for the credit markets. In early November, a collateralized debt obligation called Carina CDO apparently started liquidating its $450 million portfolio filled with bonds backed by subprime mortgages and pieces of other CDOs. These sales prompted credit rating agency Standard & Poor's (MHP ) to downgrade Carina's bonds from AAA to junk in a day. .
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