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Economic Roundup -- Bernanke Signals Extension Of Emergency Loan Window, Pending Home Sales Fall (Nasdaq)
(RTTNews) - Tuesday's economic data was somewhat overshadowed by comments from Fed Chair Ben Bernanke, who offered little insight on the outlook for the US economy but indicated that the emergency loan window for cash-strapped Wall Street firms could be open for an extended period of time.
GCO Education Loan Funding Master Trust-II Announces Tender Offer for Select Student Loan Asset-Backed Auction Rate ... (Centre Daily Times)
GCO Education Loan Funding Master Trust-II, a Delaware statutory trust (the "Trust"), today announced that it has commenced a tender offer to purchase certain outstanding senior auction rate Student Loan Asset-Backed Notes, Series 2006-2 and Series 2007-1, in the following classes: A-1AR, A-2AR, A-3AR, A-4AR, A-5AR, A-6AR, and A-7AR, for aggregate cash consideration not to exceed $40,000,000.
Australian Confidence Slump, Loan Drop Show Economy Is Slowing (Bloomberg.com)
July 9 (Bloomberg) -- Australian consumer confidence fell to a 16-year low and home-loan approvals dropped by the most in eight years, pushing down the nation's currency on speculation the central bank won't raise interest rates again this year.
Tribune Gets $300 Million Loan To Pay Down Existing Debt (CBS News)
Getting some much-needed cash, Sam Zell's Tribune has arranged a $300 million bank loan from Barclays, with the proceeds going towards debt payments. It's basically a quick, temporary measure as the company deals with its large debt burden. The loan, made public over the holiday, is backed by Tribune's existing accounts receivablemoney it's currently owed. In December, the company needs to make ...
IndyMac shares plunge as depositors pull cash (USA Today)
Shares of IndyMac Bancorp (IMB) fell more than 40% Tuesday as the mortgage lender said depositors were withdrawing cash at an "elevated" pace after a prominent U.S. senator recently questioned the big mortgage lender's ability to survive the U.S. housing crisis.
Tribune Gets $300 Million Loan To Pay Down Existing Debt (paidContent.org via Yahoo! Finance)
Getting some much-needed cash, Sam Zell's Tribune has arranged a $300 million bank loan from Barclays, with the proceeds going towards debt payments. It's basically a quick, temporary measure as the company deals with its large debt burden.
Australia Home-Loan Approvals Drop By Most in 8 Years (Update2) (Bloomberg.com)
July 9 (Bloomberg) -- Australia's home-loan approvals fell by the most in eight years in May as the highest interest rates since 1996 and rising costs for building products damped demand for property.
GCO Education Loan Funding Master Trust-II Announces Tender Offer for Select Student Loan Asset-Backed Auction Rate ... (Business Wire via Yahoo! Finance)
GREENWOOD VILLAGE, Colo.----GCO Education Loan Funding Master Trust-II, a Delaware statutory trust , today announced that it has commenced a tender offer to purchase certain outstanding senior auction rate Student Loan Asset-Backed Notes, Series 2006-2 and Series 2007-1, in the following classes: A-1AR, A-2AR, A-3AR, A-4AR, A-5AR, A-6AR, and A-7AR, for aggregate cash consideration not to exceed ...
Richwood board OKs request for $100,000 loan (The News-Star)
The town of Richwood will ask the state Bond Commission later this month to approve a $100,000 loan to help pay for operations.
Moody's Trims Default Forecast on `Loose Loan' Rules (Update1) (Bloomberg.com)
July 8 (Bloomberg) -- Moody's Investors Service lowered its forecast for corporate defaults worldwide next year as ``loose loan covenants'' keep distressed borrowers afloat.
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