Friede Goldman Halter Withdraws Junk Bond Sale

Tuesday, August 22, 2000
Friede Goldman Halter Inc. has shelved a junk bond sale expected to total $150 million because it wouldn't pay the high yields investors demanded. The company said it is evaluating alternative financing strategies.

Friede Goldman Halter had been expected to privately sell seven-year senior secured notes with a yield of about 12 percent, market sources said. RBC Dominion Securities Inc. was arranging the sale, which was originally expected to be completed last week.

The company withdrew its bond sale in an environment where investors have favored higher-rated junk bonds, which are considered the safest, and large bond sales, which are considered the most liquid.

Smaller bond issuers have often been forced this year to push yields to 12 percent or higher and sweeten sales with stock warrants, or cancel sales altogether.

Junk bonds, also known as high-yield bonds, yield more than higher-rated bonds in order to compensate investors for added risk.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Milaha Reports Improved Net Profit for Q1

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs.

SFL Acquires Eight Bulk Carriers from Golden Ocean

Ship Finance International Limited (SFL) has entered an agreement to acquire eight Capesize dry-bulk carriers from subsidiaries of Golden Ocean Group Limited, the company announced today.

Truckers to Strike Four SoCal Shippers

Truckers who haul freight from the ports of Los Angeles and Long Beach will go on strike against four ground-shipment companies on Monday, a Teamsters union official said,

Environmental

Online BWM Tools Launched

Spreading the word on ballast water management – new free online tools launched   A new online learning portal including a free e-learning course on the Operational

EPA Promotes Green Initiatives at Port of Houston

U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy visited the Port of Houston April 24 to highlight grants aimed at improving air quality. The port will receive about $900,

MPHRP at Anglo Eastern Maritime Academy

Chirag Bahri, MPHRP Regional Director for South Asia was invited by Anglo Eastern Maritime Academy in Karjat, India, to interact with the cadets undergoing pre

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1905 sec (5 req/sec)