Tuesday, 24 March 2009

New Issuance: World Bank to Sell Debt for First Time This Year

In a proof that risk-taking is improving, the WB is tapping markets. This came out just now.

Issuer: World Bank (International Bank for Reconstruction and Development)
Rating: Aaa/AAA/A
Format: Global
Maturity: 3 Year
Coupon: Fixed Rate
Size: U.S. Dollar Benchmark
Managers: Citigroup Inc. /HSBC Holdings Plc. /JPMorgan Chase & Co. /Royal Bank of Scotland Plc.
Timing: This week

New Issuance -- Kansas City Southern de Mexico to Offer $200 Million of Seven-Year Debt

For those who kno little about this company, KCSM operates the primary commercial corridor of Mexico's railroad system. Here are details on the issue:

ISSUER: KANSAS CITY SOUTHERN DE MEXICO SA DE CV
SIZE: $200 MILLION
ISSUE: SENIOR UNSECURED NOTES
MATURITY: 2016
EXPECTED RATINGS: B2/B+
LEAD MANAGER: BANK OF AMERICA SECURITIES
JOINT LEADS: BANK OF NOVA SCOTIA / SUNTRUST
CHANGE OF CONTROLS: PUT AT 101% PLUS ACCRUED INTEREST
USE OF PROCEEDS: REPAYMENT AND TERMINATION OF THE COMPANY'S CREDIT FACILITY AND TERM LOAN; GENERAL CORPORATE PURPOSES
TIMING: TODAY

BusinessWeek Article -- on Wall Street's Crimes Against Humanity! (Jesus!)

Click here on this link to read this peculiar article about Wall Street and its bankers' crimes. Columnist Shoshana Zuboff writes that, by refusing to consider the consequences of their actions, those who created the financial crisis exemplify the banality of evil.

I wonder why some people don't write about this during times of boom -- or why the media just don't publish articles like this. Must be that, during times of prosperity, every country in the world wants to have their little own Wall Street ...