Debt - CybAI news

16 Aug

Uber Raised to Investment-Grade by S&P on Earnings Growth

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S&P Global Ratings upgraded Uber Technologies Inc.’s credit ratings to investment-grade status on Friday, citing the ride-hailing and food-delivery company’s consistent earnings growth.Uber’s main bond ratings were upgraded to BBB-, the lowest investment-grade level, from BB+, the highest junk grade, S&P said in a statementBloomberg Terminal. Investment-grade credit ratings can translate to lower borrowing costs for a company, because a wider array of investors are eligible to buy high-grade securities. Source link lol

16 Aug

Maker of StarCraft 2 Successor Hopes Fans Will Be Patient

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The early player count for Stormgate has not been huge on Steam, peaking at around 5,000 concurrent players, but there’s time for a turnaround Source link lol

15 Aug

Point72 Stake Sends Bitcoin Miner Higher as Short-Seller Attacks

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It’s Steve Cohen’s hedge fund versus an activist short-seller in the stock market today. And so far, Cohen is winning.Bitcoin mining company TeraWulf Inc. rallied as much as 18% on Thursday after Cohen’s Point72 Asset Management disclosed a 1.3% stake in the company in its second-quarter report to the Securities and Exchange Commission. The shares maintained most of those gains following a reportBloomberg Terminal published by Grizzly Research that accused the miner of enriching insiders at the expense of investors. Source link lol

14 Aug

Byju’s at Risk of Insolvency Again as Top Court Halts Settlement

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Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Troubled education-technology startup Byju’s is back facing a potential insolvency after India’s top court ordered a stay on a ruling that allowed it to avert bankruptcy. Source link lol

13 Aug

Telecom Italia to Get €250 Million in Inwit Stake Sale to Ardian

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Telecom Italia SpA sold its remaining stake in mobile tower operator Infrastrutture Wireless Italiane SpA, picking up the pace in its drive to de-leverage and boosting cash flow beyond its full-year guidance levels.The carrier sold its indirect holding of about 3% in the tower company known as Inwit to a group led by French private equity firm Ardian SAS, according to a statement Tuesday. The one-time phone monopoly said it will cash in approximately €250 million ($273 million) from the deal, confirming an earlier report by Bloomberg. Source link lol

12 Aug

Drahi Is Making Good on Pledge to Sell Assets. But to What End?

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Patrick Drahi is in for a pay day after agreeing to sell his stake in BT Group Plc. That may or may not be good news for creditors of Altice.If the billionaire owner of the media giant decides to use the money from the sale of Altice UK’s 24.5% stake in BT to pay down debt, it will come just in time for creditors getting ready for a bruising round of debt talks to limit writedowns. Source link lol

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

12 Aug

India’s Bharti Agrees to Buy 24.5% of Carrier BT From Altice

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Bharti Global has agreed to buy about 24.5% of BT Group Plc, a deal to invest in a $17 billion British carrier that will accelerate an expansion overseas.Bharti, an affiliate of Indian conglomerate Bharti Enterprises, is buying stock from shareholder Altice UK, it said in a statement. The Indian firm said it has no intention of offering to buy out the rest of BT. Source link lol

09 Aug

Cellnex Sells Unit For €803 Million, Signals Share Buyback

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Cellnex Telecom SA has agreed to sell its Austrian business to an investor consortium comprised of Vauban Infrastructure Partners, EDF Invest and MEAG for an enterprise value of €803 million ($877 million), as the Spanish tower operator works to cut debt and exit smaller markets.The deal includes an unconditional deferred payment of €272 million in December 2028 and is subject to customary regulatory approvals, Cellnex said in a statementBloomberg Terminal on Friday. Once the transaction closes, the company “will reassess its capital allocation priorities,” it said, in reference to a possible share buyback. Source link lol

08 Aug

Travel Startup Flyr Raises $295 Million in Equity and Debt

stp2y0 CommentsRAG modelsABU DHABI INVESTMENT AUTHORI, acquisitions, AIRBNB INC-CLASS A, BLACKROCK INC, Debt, JETBLUE AIRWAYS CORP, software, startups, Technology, travel, Wall Street

Flyr, a travel startup that provides software to companies including JetBlue Airways Corp., has raised $295 million in equity and debt in a new funding round. The deal, led by WestCap, values the startup at $900 million, according to a person familiar with the matter who asked not to be identified discussing private information. Other investors included BlackRock funds, Streamlined Ventures and a subsidiary of the Abu Dhabi Investment Authority. The financing represents $225 in equity and $70 million in debt, and brings the startup’s total investment haul to $500 million. Source link lol