British Pound Spot

12 Aug

TalkTalk Owners Provide New Funds to Push Back Maturities

stp2y0 CommentsRAG modelsARES MANAGEMENT CORP - A, Bonds, British Pound Spot, Debt, Generic 1st 'HG' Future, James Smith, Markets, Private Equity, TALKTALK TELECOM GROUP LTD, Technology, TOSCAFUND ASSET MANAGEMENT L, United Kingdom

TalkTalk Telecom Group reached a tentative agreement with lenders on a refinancing that will give the cash-strapped UK broadband provider more time to pay its debts as it struggles with competition and higher costs. Shareholders will provide an immediate £65 million ($83 million) of funding, with a further £170 million to come once binding agreements have been signed, according to a company statement on Monday. Major shareholders and Ares Management Corp. will also contribute further assets to the company, including the Virtual1 business, and the Ovo and Shell-branded customer bases. Source link lol

09 Aug

ClearBank Wins License Allowing Fintech to Expand Across Europe

stp2y0 CommentsRAG modelsBanking, British Pound Spot, Charles McManus, Chris Ratcliffe, Euro Spot, europe, European Central Bank, fintech, investing, Markets, Technology, United Kingdom

ClearBank Ltd. said it received a banking license allowing the fintech to offer real-time clearing and settlement services to clients across Europe, marking the UK company’s first step toward global expansion. The European Central Bank authorized the permit, under the supervision of De Nederlandsche Bank, ClearBank said in a statement Friday. The license allows the financial-technology firm to offer European clients with euro accounts, foreign-exchange services, embedded banking and access to major European payment rails, and funds will be protected by the central bank’s deposit-guarantee rules. Source link lol