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DanielYeoh
2022-10-09
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Morgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt
DanielYeoh
2022-03-02
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Fed's Powell says still appropriate to raise interest rates by 25 bps in March
DanielYeoh
2022-01-10
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10:44","market":"us","language":"en","title":"Morgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt","url":"https://stock-news.laohu8.com/highlight/detail?id=2273397323","media":"Bloomberg","summary":"Banks are on the hook to provide financing, lawyers sayPotential losses could be even higher as debt","content":"<html><head></head><body><ul><li>Banks are on the hook to provide financing, lawyers say</li><li>Potential losses could be even higher as debt markets sour</li></ul><p>When banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world. Now neither Musk nor the banks have an obvious way to wriggle out of it.</p><p>Lenders that also include Bank of America Corp., Barclays Plc and Mitsubishi UFJ Financial Group Inc. committed to provide $13 billion of debt financing for the deal. Their losses would amount to $500 million or more if the debt were to be sold now, according to Bloomberg calculations. They agreed to fund the purchase whether or not they were able to offload the debt to outside investors, according to public documents and lawyers who have looked at them.</p><p>“I think that those banks would like to get out of it, I think the deal makes less sense for them now, and that the debt will be harder to syndicate to investors,” said Howard Fischer, partner at law firm Moses Singer. But Fischer, a former senior trial counsel at the Securities and Exchange Commission who isn’t involved in Twitter, said there’s no legal basis for them to back out.</p><p>Junk bond and leveraged loan yields have surged since April, meaning that banks will lose money from having agreed to provide financing at lower yields than the market will accept now. Any pain the banks bear from this deal comes as lenders have already sustained billions of dollars of writedowns and losses this year after central banks worldwide have started hiking rates to tame inflation.</p><p>Even if the banks could find buyers for Twitter debt in the market now, which is far from certain, selling bonds and loans tied to the deal probably wouldn’t be possible before the buyout closes.</p><p>Banks have a pipeline of around $50 billion of debt financings they’ve committed to provide in the coming months, according to Deutsche Bank AG estimates. While usually banks would sell bonds and loans to fund those deals, investors are less eager to buy now than they were toward the beginning of the year, and offloading this debt will be hard.</p><p>That’s forcing banks to provide the financing themselves on a number of deals, a strain on their earnings and capital requirements. For example, lenders including Bank of America and Barclays expect to have to fund $8.35 billion of debt for the leveraged buyout of Nielsen Holdings next week, Bloomberg reported on Tuesday.</p><p>Representatives for Morgan Stanley, Bank of America, Barclays, MUFG and Twitter declined to comment. A representative for Musk did not immediately respond to a request for comment.</p><h2>Way Out?</h2><p>Banks may not be able to back out of the Twitter deal, but Musk has been trying to. Twitter said on Thursday that it’s dubious of the billionaire’s promises to close on the transaction. The company said that a banker involved in the debt financing testified earlier Thursday that Musk had yet to send them a borrowing notice, and had otherwise not communicated to them that he intended to close the deal.</p><p>The lack of a borrowing notice on its own isn’t necessarily a problem. Usually that document comes toward the end of the process of closing on a purchase, said David Wicklund, a partner at Vinson & Elkins who focuses on complex acquisition and leveraged financings. It’s often submitted to banks two or three days before closing, making it one of the last items to be finished.</p><p>But leading up to the closing of a big acquisition typically involves a blizzard of paperwork that has to be negotiated between both parties. There may be 50 to 80 documents that get discussed, Wicklund said.</p><p>A Delaware judge said on Thursday that if the transaction isn’t done by October 28, she will set new dates in November for the lawsuit between Twitter and Musk. That date comes from a filing from Musk’s team that said the banks needed until then to provide the debt funding.</p><p>On Monday, Musk sent Twitter a letter saying he would go through with his acquisition “pending receipt of the proceeds of the debt financing.” That made it seem like there was some doubt as to whether the banks would provide their promised financing, which became a sticking point in negotiations between the company and the billionaire.</p><p>But in a court document on Thursday, Musk’s team said that counsel for the banks “has advised that each of their clients is prepared to honor its obligations.”</p><h2>Bonds, Loans</h2><p>The banking group originally planned to sell $6.5 billion of leveraged loans to investors, along with $6 billion of junk bonds split evenly between secured and unsecured notes. They are also providing $500 million of a type of loan called a revolving credit facility that they would typically plan to hold themselves.</p><p>Of the more than $500 million of losses that the banks are estimated to have on the Twitter debt, up to about $400 million stems from the riskiest portion, the unsecured bonds, which have a maximum interest rate for the company of about 11.75%, Bloomberg reported earlier this year. The losses exclude fees the banks would usually earn on the transaction.</p><p>The rest of the losses are estimated based on where the maximum interest rates would have been determined for the loan and secured bond when compared to the unsecured portion. The expected loss could ultimately be higher or lower.</p><p>The banking group is expected to give the cash to Twitter and become a lender to the soon-to-be highly indebted social media giant.</p><p>Morgan Stanley would hold onto the most at about $3.5 billion of debt, based on the debt commitment letter:</p><p>The banks will have to mark down the debt based on where it would trade in the secondary market, which would likely be at steep discounts to face value, especially for the riskiest portions. BNP Paribas, Mizuho and Societe Generale SA declined to comment. The banks can then wait until better market conditions and try to sell the debt to investors at a later date, likely at a discount to face value.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-08 10:44 GMT+8 <a href=https://finance.yahoo.com/news/morgan-stanley-led-banks-face-215352792.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Banks are on the hook to provide financing, lawyers sayPotential losses could be even higher as debt markets sourWhen banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase ...</p>\n\n<a href=\"https://finance.yahoo.com/news/morgan-stanley-led-banks-face-215352792.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4504":"桥水持仓","BK4516":"特朗普概念","BARC.UK":"巴克莱银行","BAC":"美国银行","BK4127":"投资银行业与经纪业","MS":"摩根士丹利","BK4508":"社交媒体","TWTR":"Twitter","BK4534":"瑞士信贷持仓","BK4579":"人工智能","BK4581":"高盛持仓"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-led-banks-face-215352792.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2273397323","content_text":"Banks are on the hook to provide financing, lawyers sayPotential losses could be even higher as debt markets sourWhen banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world. Now neither Musk nor the banks have an obvious way to wriggle out of it.Lenders that also include Bank of America Corp., Barclays Plc and Mitsubishi UFJ Financial Group Inc. committed to provide $13 billion of debt financing for the deal. Their losses would amount to $500 million or more if the debt were to be sold now, according to Bloomberg calculations. They agreed to fund the purchase whether or not they were able to offload the debt to outside investors, according to public documents and lawyers who have looked at them.“I think that those banks would like to get out of it, I think the deal makes less sense for them now, and that the debt will be harder to syndicate to investors,” said Howard Fischer, partner at law firm Moses Singer. But Fischer, a former senior trial counsel at the Securities and Exchange Commission who isn’t involved in Twitter, said there’s no legal basis for them to back out.Junk bond and leveraged loan yields have surged since April, meaning that banks will lose money from having agreed to provide financing at lower yields than the market will accept now. Any pain the banks bear from this deal comes as lenders have already sustained billions of dollars of writedowns and losses this year after central banks worldwide have started hiking rates to tame inflation.Even if the banks could find buyers for Twitter debt in the market now, which is far from certain, selling bonds and loans tied to the deal probably wouldn’t be possible before the buyout closes.Banks have a pipeline of around $50 billion of debt financings they’ve committed to provide in the coming months, according to Deutsche Bank AG estimates. While usually banks would sell bonds and loans to fund those deals, investors are less eager to buy now than they were toward the beginning of the year, and offloading this debt will be hard.That’s forcing banks to provide the financing themselves on a number of deals, a strain on their earnings and capital requirements. For example, lenders including Bank of America and Barclays expect to have to fund $8.35 billion of debt for the leveraged buyout of Nielsen Holdings next week, Bloomberg reported on Tuesday.Representatives for Morgan Stanley, Bank of America, Barclays, MUFG and Twitter declined to comment. A representative for Musk did not immediately respond to a request for comment.Way Out?Banks may not be able to back out of the Twitter deal, but Musk has been trying to. Twitter said on Thursday that it’s dubious of the billionaire’s promises to close on the transaction. The company said that a banker involved in the debt financing testified earlier Thursday that Musk had yet to send them a borrowing notice, and had otherwise not communicated to them that he intended to close the deal.The lack of a borrowing notice on its own isn’t necessarily a problem. Usually that document comes toward the end of the process of closing on a purchase, said David Wicklund, a partner at Vinson & Elkins who focuses on complex acquisition and leveraged financings. It’s often submitted to banks two or three days before closing, making it one of the last items to be finished.But leading up to the closing of a big acquisition typically involves a blizzard of paperwork that has to be negotiated between both parties. There may be 50 to 80 documents that get discussed, Wicklund said.A Delaware judge said on Thursday that if the transaction isn’t done by October 28, she will set new dates in November for the lawsuit between Twitter and Musk. That date comes from a filing from Musk’s team that said the banks needed until then to provide the debt funding.On Monday, Musk sent Twitter a letter saying he would go through with his acquisition “pending receipt of the proceeds of the debt financing.” That made it seem like there was some doubt as to whether the banks would provide their promised financing, which became a sticking point in negotiations between the company and the billionaire.But in a court document on Thursday, Musk’s team said that counsel for the banks “has advised that each of their clients is prepared to honor its obligations.”Bonds, LoansThe banking group originally planned to sell $6.5 billion of leveraged loans to investors, along with $6 billion of junk bonds split evenly between secured and unsecured notes. They are also providing $500 million of a type of loan called a revolving credit facility that they would typically plan to hold themselves.Of the more than $500 million of losses that the banks are estimated to have on the Twitter debt, up to about $400 million stems from the riskiest portion, the unsecured bonds, which have a maximum interest rate for the company of about 11.75%, Bloomberg reported earlier this year. The losses exclude fees the banks would usually earn on the transaction.The rest of the losses are estimated based on where the maximum interest rates would have been determined for the loan and secured bond when compared to the unsecured portion. The expected loss could ultimately be higher or lower.The banking group is expected to give the cash to Twitter and become a lender to the soon-to-be highly indebted social media giant.Morgan Stanley would hold onto the most at about $3.5 billion of debt, based on the debt commitment letter:The banks will have to mark down the debt based on where it would trade in the secondary market, which would likely be at steep discounts to face value, especially for the riskiest portions. BNP Paribas, Mizuho and Societe Generale SA declined to comment. The banks can then wait until better market conditions and try to sell the debt to investors at a later date, likely at a discount to face value.","news_type":1},"isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033810487,"gmtCreate":1646236376761,"gmtModify":1676534107081,"author":{"id":"3569753198522861","authorId":"3569753198522861","name":"DanielYeoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569753198522861","authorIdStr":"3569753198522861"},"themes":[],"htmlText":"🤔","listText":"🤔","text":"🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033810487","repostId":"2216746421","repostType":2,"repost":{"id":"2216746421","kind":"live","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1646235947,"share":"https://ttm.financial/m/news/2216746421?lang=&edition=fundamental","pubTime":"2022-03-02 23:45","market":"us","language":"en","title":"Fed's Powell says still appropriate to raise interest rates by 25 bps in March","url":"https://stock-news.laohu8.com/highlight/detail?id=2216746421","media":"Tiger Newspress","summary":"Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at","content":"<html><head></head><body><p>Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected.</p><p>"I’m inclined to propose and support a 25 basis point rate hike," Powell testified before Congress on Wednesday about the Fed's upcoming March meeting. He added that the central bank is "prepared to move more aggressively by raising the federal funds rate by more than 25 basis points" at one or more meetings if inflation does not come down later this year as expected.</p><p>Fed's Powell: Need To Move Away From Highly Stimulative MonP</p><p>POWELL: THERE NEEDS TO BE CONGRESSIONAL ACTION ON CRYPTOCURR</p><p>Fed’s Powell: Inflation Seen Peaking, Starting To Abate This</p><p><b>Fed’s Powell: Still Sees 25Bps Rate Hike In March As ‘Appropriate’ - Expect To Make Progress In March Towards A Plan For Reducing B/Sheet - Will Not Finalize B/Sheet Plan At This Meeting</b></p><p>U.S. stocks jump after Powell says he backs a quarter-point</p><p>POWELL: APPROPRIATE FOR US TO MOVE AHEAD, INFLATION IS TOO H</p><p>POWELL: FED NEEDS TO BE NIMBLE IN LIGHT OF WAR IN UKRAINE</p><p>POWELL: WE'VE BEEN ON VERY HIGH ALERT FOR CYBERATTACKS</p><p>POWELL: U.S. FINANCIAL SYSTEM ROBUST ENOUGH TO DEAL WITH UKR</p><p>POWELL: WE THINK WE NEED TO ENGAGE IN A SERIES OF RATE INCRE</p><p>POWELL: U.S. DOES BENEFIT FROM BEING WORLD'S RESERVE CURRENC</p><p>POWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCY</p><p>Developing...</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed's Powell says still appropriate to raise interest rates by 25 bps in March</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed's Powell says still appropriate to raise interest rates by 25 bps in March\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-03-02 23:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected.</p><p>"I’m inclined to propose and support a 25 basis point rate hike," Powell testified before Congress on Wednesday about the Fed's upcoming March meeting. He added that the central bank is "prepared to move more aggressively by raising the federal funds rate by more than 25 basis points" at one or more meetings if inflation does not come down later this year as expected.</p><p>Fed's Powell: Need To Move Away From Highly Stimulative MonP</p><p>POWELL: THERE NEEDS TO BE CONGRESSIONAL ACTION ON CRYPTOCURR</p><p>Fed’s Powell: Inflation Seen Peaking, Starting To Abate This</p><p><b>Fed’s Powell: Still Sees 25Bps Rate Hike In March As ‘Appropriate’ - Expect To Make Progress In March Towards A Plan For Reducing B/Sheet - Will Not Finalize B/Sheet Plan At This Meeting</b></p><p>U.S. stocks jump after Powell says he backs a quarter-point</p><p>POWELL: APPROPRIATE FOR US TO MOVE AHEAD, INFLATION IS TOO H</p><p>POWELL: FED NEEDS TO BE NIMBLE IN LIGHT OF WAR IN UKRAINE</p><p>POWELL: WE'VE BEEN ON VERY HIGH ALERT FOR CYBERATTACKS</p><p>POWELL: U.S. FINANCIAL SYSTEM ROBUST ENOUGH TO DEAL WITH UKR</p><p>POWELL: WE THINK WE NEED TO ENGAGE IN A SERIES OF RATE INCRE</p><p>POWELL: U.S. DOES BENEFIT FROM BEING WORLD'S RESERVE CURRENC</p><p>POWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCY</p><p>Developing...</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","POWL":"Powell Industries","PRGS":"Progress Software Corporation",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2216746421","content_text":"Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected.\"I’m inclined to propose and support a 25 basis point rate hike,\" Powell testified before Congress on Wednesday about the Fed's upcoming March meeting. He added that the central bank is \"prepared to move more aggressively by raising the federal funds rate by more than 25 basis points\" at one or more meetings if inflation does not come down later this year as expected.Fed's Powell: Need To Move Away From Highly Stimulative MonPPOWELL: THERE NEEDS TO BE CONGRESSIONAL ACTION ON CRYPTOCURRFed’s Powell: Inflation Seen Peaking, Starting To Abate ThisFed’s Powell: Still Sees 25Bps Rate Hike In March As ‘Appropriate’ - Expect To Make Progress In March Towards A Plan For Reducing B/Sheet - Will Not Finalize B/Sheet Plan At This MeetingU.S. stocks jump after Powell says he backs a quarter-pointPOWELL: APPROPRIATE FOR US TO MOVE AHEAD, INFLATION IS TOO HPOWELL: FED NEEDS TO BE NIMBLE IN LIGHT OF WAR IN UKRAINEPOWELL: WE'VE BEEN ON VERY HIGH ALERT FOR CYBERATTACKSPOWELL: U.S. FINANCIAL SYSTEM ROBUST ENOUGH TO DEAL WITH UKRPOWELL: WE THINK WE NEED TO ENGAGE IN A SERIES OF RATE INCREPOWELL: U.S. DOES BENEFIT FROM BEING WORLD'S RESERVE CURRENCPOWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCYDeveloping...","news_type":1},"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9006524490,"gmtCreate":1641790354228,"gmtModify":1676533648535,"author":{"id":"3569753198522861","authorId":"3569753198522861","name":"DanielYeoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569753198522861","authorIdStr":"3569753198522861"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006524490","repostId":"1185775421","repostType":4,"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9006524490,"gmtCreate":1641790354228,"gmtModify":1676533648535,"author":{"id":"3569753198522861","authorId":"3569753198522861","name":"DanielYeoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569753198522861","authorIdStr":"3569753198522861"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006524490","repostId":"1185775421","repostType":4,"repost":{"id":"1185775421","kind":"news","pubTimestamp":1641785336,"share":"https://ttm.financial/m/news/1185775421?lang=&edition=fundamental","pubTime":"2022-01-10 11:28","market":"us","language":"en","title":"Foxconn India iPhone plant to reopen on Jan 12 -govt officials","url":"https://stock-news.laohu8.com/highlight/detail?id=1185775421","media":"Reuters","summary":"Apple Inc supplier Foxconn will reopen its shuttered iPhone manufacturing facility in southern India","content":"<html><head></head><body><p>Apple Inc supplier Foxconn will reopen its shuttered iPhone manufacturing facility in southern India on Jan. 12, government officials and a legislator in the region where the plant is located told Reuters.</p><p>The Foxconn plant, located in the state of Tamil Nadu, was closed on Dec. 18 following protests over 250 of its workers being treated for food poisoning. Apple has since placed the factory on probation after discovering that some dormitories and dining rooms did not meet required standards.</p><p>Foxconn and Apple did not immediately respond to a request for comment.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foxconn India iPhone plant to reopen on Jan 12 -govt officials</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFoxconn India iPhone plant to reopen on Jan 12 -govt officials\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-10 11:28 GMT+8 <a href=https://finance.yahoo.com/news/foxconn-india-iphone-plant-reopen-031721860.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple Inc supplier Foxconn will reopen its shuttered iPhone manufacturing facility in southern India on Jan. 12, government officials and a legislator in the region where the plant is located told ...</p>\n\n<a href=\"https://finance.yahoo.com/news/foxconn-india-iphone-plant-reopen-031721860.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://finance.yahoo.com/news/foxconn-india-iphone-plant-reopen-031721860.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185775421","content_text":"Apple Inc supplier Foxconn will reopen its shuttered iPhone manufacturing facility in southern India on Jan. 12, government officials and a legislator in the region where the plant is located told Reuters.The Foxconn plant, located in the state of Tamil Nadu, was closed on Dec. 18 following protests over 250 of its workers being treated for food poisoning. Apple has since placed the factory on probation after discovering that some dormitories and dining rooms did not meet required standards.Foxconn and Apple did not immediately respond to a request for comment.","news_type":1},"isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033810487,"gmtCreate":1646236376761,"gmtModify":1676534107081,"author":{"id":"3569753198522861","authorId":"3569753198522861","name":"DanielYeoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569753198522861","authorIdStr":"3569753198522861"},"themes":[],"htmlText":"🤔","listText":"🤔","text":"🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033810487","repostId":"2216746421","repostType":2,"repost":{"id":"2216746421","kind":"live","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1646235947,"share":"https://ttm.financial/m/news/2216746421?lang=&edition=fundamental","pubTime":"2022-03-02 23:45","market":"us","language":"en","title":"Fed's Powell says still appropriate to raise interest rates by 25 bps in March","url":"https://stock-news.laohu8.com/highlight/detail?id=2216746421","media":"Tiger Newspress","summary":"Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at","content":"<html><head></head><body><p>Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected.</p><p>"I’m inclined to propose and support a 25 basis point rate hike," Powell testified before Congress on Wednesday about the Fed's upcoming March meeting. He added that the central bank is "prepared to move more aggressively by raising the federal funds rate by more than 25 basis points" at one or more meetings if inflation does not come down later this year as expected.</p><p>Fed's Powell: Need To Move Away From Highly Stimulative MonP</p><p>POWELL: THERE NEEDS TO BE CONGRESSIONAL ACTION ON CRYPTOCURR</p><p>Fed’s Powell: Inflation Seen Peaking, Starting To Abate This</p><p><b>Fed’s Powell: Still Sees 25Bps Rate Hike In March As ‘Appropriate’ - Expect To Make Progress In March Towards A Plan For Reducing B/Sheet - Will Not Finalize B/Sheet Plan At This Meeting</b></p><p>U.S. stocks jump after Powell says he backs a quarter-point</p><p>POWELL: APPROPRIATE FOR US TO MOVE AHEAD, INFLATION IS TOO H</p><p>POWELL: FED NEEDS TO BE NIMBLE IN LIGHT OF WAR IN UKRAINE</p><p>POWELL: WE'VE BEEN ON VERY HIGH ALERT FOR CYBERATTACKS</p><p>POWELL: U.S. FINANCIAL SYSTEM ROBUST ENOUGH TO DEAL WITH UKR</p><p>POWELL: WE THINK WE NEED TO ENGAGE IN A SERIES OF RATE INCRE</p><p>POWELL: U.S. DOES BENEFIT FROM BEING WORLD'S RESERVE CURRENC</p><p>POWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCY</p><p>Developing...</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed's Powell says still appropriate to raise interest rates by 25 bps in March</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed's Powell says still appropriate to raise interest rates by 25 bps in March\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-03-02 23:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected.</p><p>"I’m inclined to propose and support a 25 basis point rate hike," Powell testified before Congress on Wednesday about the Fed's upcoming March meeting. He added that the central bank is "prepared to move more aggressively by raising the federal funds rate by more than 25 basis points" at one or more meetings if inflation does not come down later this year as expected.</p><p>Fed's Powell: Need To Move Away From Highly Stimulative MonP</p><p>POWELL: THERE NEEDS TO BE CONGRESSIONAL ACTION ON CRYPTOCURR</p><p>Fed’s Powell: Inflation Seen Peaking, Starting To Abate This</p><p><b>Fed’s Powell: Still Sees 25Bps Rate Hike In March As ‘Appropriate’ - Expect To Make Progress In March Towards A Plan For Reducing B/Sheet - Will Not Finalize B/Sheet Plan At This Meeting</b></p><p>U.S. stocks jump after Powell says he backs a quarter-point</p><p>POWELL: APPROPRIATE FOR US TO MOVE AHEAD, INFLATION IS TOO H</p><p>POWELL: FED NEEDS TO BE NIMBLE IN LIGHT OF WAR IN UKRAINE</p><p>POWELL: WE'VE BEEN ON VERY HIGH ALERT FOR CYBERATTACKS</p><p>POWELL: U.S. FINANCIAL SYSTEM ROBUST ENOUGH TO DEAL WITH UKR</p><p>POWELL: WE THINK WE NEED TO ENGAGE IN A SERIES OF RATE INCRE</p><p>POWELL: U.S. DOES BENEFIT FROM BEING WORLD'S RESERVE CURRENC</p><p>POWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCY</p><p>Developing...</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","POWL":"Powell Industries","PRGS":"Progress Software Corporation",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2216746421","content_text":"Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting but said the central bank is prepared to move more aggressively later if inflation does not abate as expected.\"I’m inclined to propose and support a 25 basis point rate hike,\" Powell testified before Congress on Wednesday about the Fed's upcoming March meeting. He added that the central bank is \"prepared to move more aggressively by raising the federal funds rate by more than 25 basis points\" at one or more meetings if inflation does not come down later this year as expected.Fed's Powell: Need To Move Away From Highly Stimulative MonPPOWELL: THERE NEEDS TO BE CONGRESSIONAL ACTION ON CRYPTOCURRFed’s Powell: Inflation Seen Peaking, Starting To Abate ThisFed’s Powell: Still Sees 25Bps Rate Hike In March As ‘Appropriate’ - Expect To Make Progress In March Towards A Plan For Reducing B/Sheet - Will Not Finalize B/Sheet Plan At This MeetingU.S. stocks jump after Powell says he backs a quarter-pointPOWELL: APPROPRIATE FOR US TO MOVE AHEAD, INFLATION IS TOO HPOWELL: FED NEEDS TO BE NIMBLE IN LIGHT OF WAR IN UKRAINEPOWELL: WE'VE BEEN ON VERY HIGH ALERT FOR CYBERATTACKSPOWELL: U.S. FINANCIAL SYSTEM ROBUST ENOUGH TO DEAL WITH UKRPOWELL: WE THINK WE NEED TO ENGAGE IN A SERIES OF RATE INCREPOWELL: U.S. DOES BENEFIT FROM BEING WORLD'S RESERVE CURRENCPOWELL: POSSIBLE TO HAVE MORE THAN ONE RESERVE CURRENCYDeveloping...","news_type":1},"isVote":1,"tweetType":1,"viewCount":612,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9914691181,"gmtCreate":1665270306943,"gmtModify":1676537578608,"author":{"id":"3569753198522861","authorId":"3569753198522861","name":"DanielYeoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3569753198522861","authorIdStr":"3569753198522861"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9914691181","repostId":"2273397323","repostType":4,"repost":{"id":"2273397323","kind":"highlight","pubTimestamp":1665197064,"share":"https://ttm.financial/m/news/2273397323?lang=&edition=fundamental","pubTime":"2022-10-08 10:44","market":"us","language":"en","title":"Morgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt","url":"https://stock-news.laohu8.com/highlight/detail?id=2273397323","media":"Bloomberg","summary":"Banks are on the hook to provide financing, lawyers sayPotential losses could be even higher as debt","content":"<html><head></head><body><ul><li>Banks are on the hook to provide financing, lawyers say</li><li>Potential losses could be even higher as debt markets sour</li></ul><p>When banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world. Now neither Musk nor the banks have an obvious way to wriggle out of it.</p><p>Lenders that also include Bank of America Corp., Barclays Plc and Mitsubishi UFJ Financial Group Inc. committed to provide $13 billion of debt financing for the deal. Their losses would amount to $500 million or more if the debt were to be sold now, according to Bloomberg calculations. They agreed to fund the purchase whether or not they were able to offload the debt to outside investors, according to public documents and lawyers who have looked at them.</p><p>“I think that those banks would like to get out of it, I think the deal makes less sense for them now, and that the debt will be harder to syndicate to investors,” said Howard Fischer, partner at law firm Moses Singer. But Fischer, a former senior trial counsel at the Securities and Exchange Commission who isn’t involved in Twitter, said there’s no legal basis for them to back out.</p><p>Junk bond and leveraged loan yields have surged since April, meaning that banks will lose money from having agreed to provide financing at lower yields than the market will accept now. Any pain the banks bear from this deal comes as lenders have already sustained billions of dollars of writedowns and losses this year after central banks worldwide have started hiking rates to tame inflation.</p><p>Even if the banks could find buyers for Twitter debt in the market now, which is far from certain, selling bonds and loans tied to the deal probably wouldn’t be possible before the buyout closes.</p><p>Banks have a pipeline of around $50 billion of debt financings they’ve committed to provide in the coming months, according to Deutsche Bank AG estimates. While usually banks would sell bonds and loans to fund those deals, investors are less eager to buy now than they were toward the beginning of the year, and offloading this debt will be hard.</p><p>That’s forcing banks to provide the financing themselves on a number of deals, a strain on their earnings and capital requirements. For example, lenders including Bank of America and Barclays expect to have to fund $8.35 billion of debt for the leveraged buyout of Nielsen Holdings next week, Bloomberg reported on Tuesday.</p><p>Representatives for Morgan Stanley, Bank of America, Barclays, MUFG and Twitter declined to comment. A representative for Musk did not immediately respond to a request for comment.</p><h2>Way Out?</h2><p>Banks may not be able to back out of the Twitter deal, but Musk has been trying to. Twitter said on Thursday that it’s dubious of the billionaire’s promises to close on the transaction. The company said that a banker involved in the debt financing testified earlier Thursday that Musk had yet to send them a borrowing notice, and had otherwise not communicated to them that he intended to close the deal.</p><p>The lack of a borrowing notice on its own isn’t necessarily a problem. Usually that document comes toward the end of the process of closing on a purchase, said David Wicklund, a partner at Vinson & Elkins who focuses on complex acquisition and leveraged financings. It’s often submitted to banks two or three days before closing, making it one of the last items to be finished.</p><p>But leading up to the closing of a big acquisition typically involves a blizzard of paperwork that has to be negotiated between both parties. There may be 50 to 80 documents that get discussed, Wicklund said.</p><p>A Delaware judge said on Thursday that if the transaction isn’t done by October 28, she will set new dates in November for the lawsuit between Twitter and Musk. That date comes from a filing from Musk’s team that said the banks needed until then to provide the debt funding.</p><p>On Monday, Musk sent Twitter a letter saying he would go through with his acquisition “pending receipt of the proceeds of the debt financing.” That made it seem like there was some doubt as to whether the banks would provide their promised financing, which became a sticking point in negotiations between the company and the billionaire.</p><p>But in a court document on Thursday, Musk’s team said that counsel for the banks “has advised that each of their clients is prepared to honor its obligations.”</p><h2>Bonds, Loans</h2><p>The banking group originally planned to sell $6.5 billion of leveraged loans to investors, along with $6 billion of junk bonds split evenly between secured and unsecured notes. They are also providing $500 million of a type of loan called a revolving credit facility that they would typically plan to hold themselves.</p><p>Of the more than $500 million of losses that the banks are estimated to have on the Twitter debt, up to about $400 million stems from the riskiest portion, the unsecured bonds, which have a maximum interest rate for the company of about 11.75%, Bloomberg reported earlier this year. The losses exclude fees the banks would usually earn on the transaction.</p><p>The rest of the losses are estimated based on where the maximum interest rates would have been determined for the loan and secured bond when compared to the unsecured portion. The expected loss could ultimately be higher or lower.</p><p>The banking group is expected to give the cash to Twitter and become a lender to the soon-to-be highly indebted social media giant.</p><p>Morgan Stanley would hold onto the most at about $3.5 billion of debt, based on the debt commitment letter:</p><p>The banks will have to mark down the debt based on where it would trade in the secondary market, which would likely be at steep discounts to face value, especially for the riskiest portions. BNP Paribas, Mizuho and Societe Generale SA declined to comment. The banks can then wait until better market conditions and try to sell the debt to investors at a later date, likely at a discount to face value.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley-Led Banks Face $500 Million Loss on Twitter Debt\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-08 10:44 GMT+8 <a href=https://finance.yahoo.com/news/morgan-stanley-led-banks-face-215352792.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Banks are on the hook to provide financing, lawyers sayPotential losses could be even higher as debt markets sourWhen banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase ...</p>\n\n<a href=\"https://finance.yahoo.com/news/morgan-stanley-led-banks-face-215352792.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4504":"桥水持仓","BK4516":"特朗普概念","BARC.UK":"巴克莱银行","BAC":"美国银行","BK4127":"投资银行业与经纪业","MS":"摩根士丹利","BK4508":"社交媒体","TWTR":"Twitter","BK4534":"瑞士信贷持仓","BK4579":"人工智能","BK4581":"高盛持仓"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-led-banks-face-215352792.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2273397323","content_text":"Banks are on the hook to provide financing, lawyers sayPotential losses could be even higher as debt markets sourWhen banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world. Now neither Musk nor the banks have an obvious way to wriggle out of it.Lenders that also include Bank of America Corp., Barclays Plc and Mitsubishi UFJ Financial Group Inc. committed to provide $13 billion of debt financing for the deal. Their losses would amount to $500 million or more if the debt were to be sold now, according to Bloomberg calculations. They agreed to fund the purchase whether or not they were able to offload the debt to outside investors, according to public documents and lawyers who have looked at them.“I think that those banks would like to get out of it, I think the deal makes less sense for them now, and that the debt will be harder to syndicate to investors,” said Howard Fischer, partner at law firm Moses Singer. But Fischer, a former senior trial counsel at the Securities and Exchange Commission who isn’t involved in Twitter, said there’s no legal basis for them to back out.Junk bond and leveraged loan yields have surged since April, meaning that banks will lose money from having agreed to provide financing at lower yields than the market will accept now. Any pain the banks bear from this deal comes as lenders have already sustained billions of dollars of writedowns and losses this year after central banks worldwide have started hiking rates to tame inflation.Even if the banks could find buyers for Twitter debt in the market now, which is far from certain, selling bonds and loans tied to the deal probably wouldn’t be possible before the buyout closes.Banks have a pipeline of around $50 billion of debt financings they’ve committed to provide in the coming months, according to Deutsche Bank AG estimates. While usually banks would sell bonds and loans to fund those deals, investors are less eager to buy now than they were toward the beginning of the year, and offloading this debt will be hard.That’s forcing banks to provide the financing themselves on a number of deals, a strain on their earnings and capital requirements. For example, lenders including Bank of America and Barclays expect to have to fund $8.35 billion of debt for the leveraged buyout of Nielsen Holdings next week, Bloomberg reported on Tuesday.Representatives for Morgan Stanley, Bank of America, Barclays, MUFG and Twitter declined to comment. A representative for Musk did not immediately respond to a request for comment.Way Out?Banks may not be able to back out of the Twitter deal, but Musk has been trying to. Twitter said on Thursday that it’s dubious of the billionaire’s promises to close on the transaction. The company said that a banker involved in the debt financing testified earlier Thursday that Musk had yet to send them a borrowing notice, and had otherwise not communicated to them that he intended to close the deal.The lack of a borrowing notice on its own isn’t necessarily a problem. Usually that document comes toward the end of the process of closing on a purchase, said David Wicklund, a partner at Vinson & Elkins who focuses on complex acquisition and leveraged financings. It’s often submitted to banks two or three days before closing, making it one of the last items to be finished.But leading up to the closing of a big acquisition typically involves a blizzard of paperwork that has to be negotiated between both parties. There may be 50 to 80 documents that get discussed, Wicklund said.A Delaware judge said on Thursday that if the transaction isn’t done by October 28, she will set new dates in November for the lawsuit between Twitter and Musk. That date comes from a filing from Musk’s team that said the banks needed until then to provide the debt funding.On Monday, Musk sent Twitter a letter saying he would go through with his acquisition “pending receipt of the proceeds of the debt financing.” That made it seem like there was some doubt as to whether the banks would provide their promised financing, which became a sticking point in negotiations between the company and the billionaire.But in a court document on Thursday, Musk’s team said that counsel for the banks “has advised that each of their clients is prepared to honor its obligations.”Bonds, LoansThe banking group originally planned to sell $6.5 billion of leveraged loans to investors, along with $6 billion of junk bonds split evenly between secured and unsecured notes. They are also providing $500 million of a type of loan called a revolving credit facility that they would typically plan to hold themselves.Of the more than $500 million of losses that the banks are estimated to have on the Twitter debt, up to about $400 million stems from the riskiest portion, the unsecured bonds, which have a maximum interest rate for the company of about 11.75%, Bloomberg reported earlier this year. The losses exclude fees the banks would usually earn on the transaction.The rest of the losses are estimated based on where the maximum interest rates would have been determined for the loan and secured bond when compared to the unsecured portion. The expected loss could ultimately be higher or lower.The banking group is expected to give the cash to Twitter and become a lender to the soon-to-be highly indebted social media giant.Morgan Stanley would hold onto the most at about $3.5 billion of debt, based on the debt commitment letter:The banks will have to mark down the debt based on where it would trade in the secondary market, which would likely be at steep discounts to face value, especially for the riskiest portions. BNP Paribas, Mizuho and Societe Generale SA declined to comment. The banks can then wait until better market conditions and try to sell the debt to investors at a later date, likely at a discount to face value.","news_type":1},"isVote":1,"tweetType":1,"viewCount":587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
