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  • Strategic Graphite seeks to raise $40m | Business Spectator
    the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Strategic Graphite seeks to raise 40m Brett Cole 28 Oct 2013 1 53 PM DataRoom Equity Capital Markets Debt Capital Markets Industries Resources and Energy The company is seeking a compliance listing on the ASX and is looking for financing from Singapore and UK funds You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Strategic Graphite Ltd plans to raise as much as 40 million in a share sale and an off take financing as it restarts production and seeks funds for a new plant at its South Australian graphite mine discovered in the 1800s The company which will change its name to Valence Industries Ltd will seek a compliance listing on the ASX that will involve transferring its shares to a publicly listed register Under Strategic Graphite s equity raising plan 3 600 of its current shareholders will be offered two new shares in the company for every five in a deal worth between 7 5 million and 10 million The stock will be listed on the ASX on Dec 13 A prospectus will be issued later this week Patersons Securities is the manager of the share sale whose funds will be used to restart production at the Uley mine 23 kilometres from Port Lincoln The mine has about 7 400 tonnes of graphite stock after it was put on care and maintenance 10 years ago Current equipment could ramp up graphite production to 10 000 tonnes per annum but the company s chief executive Christopher Darby told DataRoom he wants to fund a brand new plant through an off take financing plan which could produce as much as 60 000 tonnes a year Such a production rate may generate annual revenue of about 75 million for the company says Darby The off take financing agreement will involve the forward sale of graphite in return for as much as 30 million from investment funds in Singapore and the UK The company will also pay the funds a market equivalent rate of interest Darby declined to name the funds He hopes to wrap up the financing by the middle

    Original URL path: http://www.businessspectator.com.au/article/2013/10/28/debt-capital-markets/strategic-graphite-seeks-raise-40m (2014-01-12)
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  • Paperlinx seeks to eliminate hybrid securities | Business Spectator
    A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Paperlinx seeks to eliminate hybrid securities Brett Cole 21 Oct 2013 9 47 AM DataRoom Equity Capital Markets Debt Capital Markets Paper merchant Paperlinx is offering its hybrid securities holders a majority stake in the company in an attempt to improve its terms of trade You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By Brett Cole Paperlinx Ltd the embattled paper merchant is offering holders of its hybrid securities a 54 per cent stake in the company as it tries to clear up a messy capital structure that has prevented restructuring The company says it will offer 250 Paperlinx ordinary shares for each hybrid security This it says implies a price of about 14 per hybrid A total of 285 million hybrid securities were issued on March 30 2007 when Paperlinx s market value was about 1 7 billion Since then the value of the hybrids has plunged to 37 2 million Paperlinx s market value is now 33 5 million The uncertainty and complexity resulting from the hybrids combined with the current trading performance of Paperlinx typically leads to a more negative counterparty credit assessment of the company by key stakeholders including customers suppliers employees and financiers said Paperlinx A material reduction or removal of the hybrids may lead to an improvement in the company s terms of trade thereby assisting in its turnaround the company added In its 2012 and 2013 financial year Paperlinx has reported respectively a 266 7 million and a 90 2 million net loss The losses have prevented the company from being able to pay its hybrid security holders a dividend much to the consternation of hedge fund Coastal Capital which has 12 per cent of the hybrids and an investor group calling themselves Pigs PXUPA Investor Group Supporters which claims it holds between 25 per cent and 50 per cent of the hybrids The removal or reduction of the hybrids may improve the company s access to additional debt and equity capital

    Original URL path: http://www.businessspectator.com.au/news/2013/10/21/equity-capital-markets/paperlinx-seeks-eliminate-hybrid-securities (2014-01-12)
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  • Debt Capital Markets | Business Spectator
    their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Debt Capital Markets Anchorage eyes NAB s ag debt Fund urges lender to place distressed agricultural debt up for sale in single portfolio by Bridget Carter The Australian 9 00am October 21 Coates Hire refinances 1 9 bn of debt The general hire company is a potential IPO candidate for the new year by Brett Cole 11 44am October 18 Southern Cross eyes debt refinancing Firm hopes to leverage Ten deal to refinance 725m worth of debt 4 51am October 16 Virgin prices new notes offer Airline announces a further US64 6m offering citing strong investor demand 9 28am October 10 Hard road ahead for auto suppliers The shaky future of the auto industry s supply chain means more insolvencies could be on the cards by Amanda Saunders 5 03pm October 09 Virgin prices airline backed notes Airline uses collateralised pool of 24 aircraft for US732 6m notes offering 11 31am October 08 Lloyds winner may be known next week Westpac a Pepper led group and Macquarie have bid for Lloyds remaining assets in Australia worth over 8 billion by Brett Cole 4 55pm October 04 PNG LNG project raises more debt Co venturers raise an extra US1 5 billion for a LNG project cost increase 9 31am October 04 Spotless sells US1 08 billion of loans Pacific Equity Partners takes advantage of record low US interest rates to refinance debt by Brett Cole 11 03am October 01 Transurban in EU notes issue Group will use proceeds from 500m issue to repay existing short term debt 9 08am October 01 Macquarie rules in mergers IPOs Macquarie is the number one takeover and IPO adviser while Westpac takes top place in debt underwriting in the first nine months of 2013 by Brett Cole 5 50pm September 30 Boart Longyear completes debt offer Drilling services provider to use US300m offering to pay down loans 10 02am September 30 Nomura Sankaty buy 520m of Lloyds loans A mixture of distressed and performing credit the Lloyds loans were purchased at a discount to their par value by Brett Cole 1 30pm September 26 Pepper Group eyes 18bn debt Sydney based Pepper Group has its eye on billions of dollars of distressed debt deals particularly in Europe by Bridget Carter The Australian 10 44am September 23 Boart Longyear reduces credit facility

    Original URL path: http://www.businessspectator.com.au/dataroom/debt-capital-markets?page=1 (2014-01-12)
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  • Debt Capital Markets | Business Spectator
    Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Debt Capital Markets Mirabela Nickel secures 50 million loan A new loan from its noteholders will allow the struggling nickel miner to continue operating with discussions now centring on a US100 million equity offering by Brett Cole 2 07pm December 30 Roy Hill secures US700m loan Gina Rinehart s iron ore JV wins significant backing from US govt agency 9 21am December 20 UBS takes title as best bank Survey of corporates sees Swiss based group labelled Australia s best investment bank by Michael Bennet The Australian 2 26am December 20 Yancoal secures US250 loan Group reaches deal with major shareholder Yanzhou for long term facility 9 53am December 13 1 comment Aust auto group gets Swiss backing Wheel maker Carbon Revolution receives funding from Swiss giant Ronal by Damon Kitney The Australian 2 14am December 11 IPO fatigue claims first victim Fund managers have given the cold shoulder to the 510m float of BIS Industries raising the risk that other IPOs may also be shelved in coming weeks by Amanda Saunders 6 15pm November 27 Rank Group saves US 85m with refi The New Zealand packaging giant has tapped the cheap US debt market to save millions on interest payments by Amanda Saunders 1 35pm November 27 Debt deadline looms for PNG s stake in Oil Search The Papua New Guinea government needs to refinance 1 7bn in debt soon or relinquish its 14 6 per cent holding in Oil Search by Amanda Saunders 3 44pm November 25 SCA Property Group refinances 600 million of debt The property trust got better pricing and longer maturities for its loans by Brett Cole 12 21pm November 21 Rank Group reprices 2 3bn debt The privately owned group is tapping the liquid US market to refinance at significantly lower cost by Amanda Saunders 2 29pm November 15 1 comment NAB to issue 750 million convertible securities Securities will begin trading on the ASX next month after a book build by Brett Cole 9 18am November 12 1 comment NAB increases hybrid notes offer Sources say bank to cap second issue this year at 1 billion by Amanda Saunders 12 09pm November 11 Fortescue uses Credit Suisse to re price US4 95 billion term loan Deal cuts Fortescue s interest payments by US50 million a year by Brett Cole 9 58am November 11 NAB to launch 500m hybrid National Australia Bank is close to launching a hybrid issue to shore up its capital ratios ahead of Basel III by Amanda Saunders 12 30pm November 06 AMP launches capital raising Financial services group looking to raise 200m through new ASX listed securities 9 11am November

    Original URL path: http://www.businessspectator.com.au/dataroom/debt-capital-markets?destination=taxonomy/term/141531 (2014-01-12)
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  • ASA to back Billabong deal | Business Spectator
    and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu ASA to back Billabong deal Blair Speedy The Australian 9 Jan 12 19 AM DataRoom Equity Capital Markets Australian Shareholders Association sees private equity deal as best option You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The Australian Shareholders Association has said it will probably support Billabong International s proposal to issue 185 million worth of shares to two United States based private equity firms despite an independent expert s report declaring it is not fair to existing shareholders ASA chairman Ian Curry said while the stock issue would be dilutive to existing investors holdings it was the shareholders best option following the near collapse of the surf ski and skatewear company whose market capitalisation has fallen from more than 3 billion to less than 100 million over the past six years The ASA had previously criticised Billabong for agreeing to a recapitalisation plan with US private equity company Altamont before it finally signed a deal with rival US investors Centerbridge Partners and Oaktree Capital which will save the company 130 million in interest We had the view that they were rushing to accept the first offer that came along but we feel the arrangements they ve now got are the best they could do and will probably mean that shareholders can salvage something out of the wreckage Mr Curry said As part of the recapitalisation Billabong shareholders are scheduled to vote on proposals to issue 185 million worth of shares and renounceable rights to Centerbridge and Oaktree at an extraordinary general meeting to be held on Queensland s Gold Coast on January 30 The stock issue is intended to repay 185 million of the US360 million bailout package the consortium advanced Billabong in September and will result in Centerbridge and Oaktree holding a combined 40 8 per cent stake in the firm An independent expert s report from corporate advisory firm Grant Samuel has declared the share issue is not fair to existing shareholders but was reasonable as it would leave the company in better shape and was unlikely to be trumped by a better offer While shareholders are obviously going to be diluted down dramatically they will still get something out of this

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/equity-capital-markets/asa-back-billabong-deal (2014-01-12)
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  • Blair Speedy - The Australian | Business Spectator
    than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Blair Speedy The Australian ASA to back Billabong deal Australian Shareholders Association sees private equity deal as best option by Blair Speedy The Australian 12 19am January 09 Political twist to stir dairy battle State and federal govts called to comment on Warrnambool takeover by Blair Speedy The Australian 6 23am January 08 1 comment Billabong deal unfair Independent expert says private equity deal unfair to existing shareholders by Blair Speedy The Australian 12 59am January 08 Lion rules out selling dairy operations Lion says it has no plans to sell the National Foods dairy processing business as it renews commitment to the sector by Blair Speedy The Australian 3 05pm December 09 Dick Smith confident ahead of debut Retailer hopes excess demand during IPO translates to ASX by Blair Speedy The Australian 6 56am December 04 Airlie makes a Premier investment Airlie Funds Management has emerged as a major shareholder in Just Jeans parent company Premier Investments by Blair Speedy The Australian 4 11pm October 31 ASA to back Billabong deal Australian Shareholders Association sees private equity deal as best option by Blair Speedy The Australian 12 19am January 09 Political twist to stir dairy battle State and federal govts called to comment on Warrnambool takeover by Blair Speedy The Australian 6 23am January 08 1 comment Billabong deal unfair Independent expert says private equity deal unfair to existing shareholders by Blair Speedy The Australian 12 59am January 08 Lion rules out selling dairy operations Lion says it has no plans to sell the National Foods dairy

    Original URL path: http://www.businessspectator.com.au/contributor/blair-speedy-australian (2014-01-12)
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  • Billabong deal 'unfair' | Business Spectator
    and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Billabong deal unfair Blair Speedy The Australian 8 Jan 12 59 AM DataRoom Equity Capital Markets Industries Retail Independent expert says private equity deal unfair to existing shareholders You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password An independent expert has declared a proposal to issue up to 185 million in Billabong International Ltd shares to a pair of US private equity funds is unfair to existing shareholders Billabong shareholders are scheduled to vote on a proposal to issue 329 million shares at 41 cents apiece worth 135 million to US private equity firms Centerbridge Partners and Oaktree Capital Management at an extraordinary general meeting to be held on the Gold Coast on January 30 In addition the meeting will be asked to approve a renounceable rights issue of up to 178 million additional shares at 28 cents each valued at a further 50 million as well as a further 29 6 million free options over Billabong shares with an exercise price of 50 cents each The stock issue is intended to repay 185 million of the US360 million 403 million bailout package the consortium advanced Billabong in September and will give Centerbridge and Oaktree a combined 40 8 per cent stake But the notice of meeting quietly lodged with the Australian stock exchange on December 23 includes an independent expert s report from corporate advisory firm Grant Samuel declaring the share issues are not fair on existing shareholders However there are compelling reasons for Billabong shareholders to approve the proposed equity issue they will clearly be better off if the proposed equity issue proceeds than if it does not the report says The assessment of the deal as unfair was based on an estimated trading range for Billabong stock of 30 35 cents following the issue of the shares compared to the estimated current value of the stock at 33 43 cents a share and would see shareholders giving up any premium for control of the company However Grant Samuel noted that Billabong s share price had been volatile and were the stock to remain above 40 cents after the share issue it would fall within the fair range The stock closed at 50 5 cents yesterday up half a cent The report also said Billabong had a pressing need for equity with high gearing levels expensive debt and limited capacity to weather any external shocks or further business

    Original URL path: http://www.businessspectator.com.au/news/2014/1/8/equity-capital-markets/billabong-deal-unfair (2014-01-12)
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  • Champ Ventures plans SG Fleet IPO in Q1 | Business Spectator
    tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Champ Ventures plans SG Fleet IPO in Q1 Brett Cole 7 Jan 3 01 PM DataRoom Equity Capital Markets Industries Automotive The private equity firm plans to sell its 42 per cent stake in the motor vehicle fleet management business in an IPO worth up to 500m You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Buyout firm Champ Ventures plans to sell its 42 per cent stake in motor vehicle fleet management and leasing company SG Fleet in an initial public offering worth up to 500 million due by the end of March SG Fleet will be the first sizable initial public offering confirmed for the Australian bourse in the first quarter Morgan Stanley and Goldman Sachs Group Inc have been appointed joint lead managers of the IPO after winning the mandate from rivals in a deal some investment bankers estimate is worth between 400 million and 500 million South Africa s Super Group a supply chain manager has a 51 per cent stake in SG Fleet SG Fleet management has a shareholding in the company of about 7 per cent Super Group notes that Champ is currently exploring alternatives for its 42 per cent minority shareholding Super Group said in a statement This is consistent with the shareholding arrangements entered into between Super Group and Champ in 2011 Equity capital markets bankers estimate that between 3 billion and 4 billion worth of IPOs may be sold to investors by the end of March following the 15 per cent gain in the S P ASX 200 Index since January 1 last year But the poor performance of IPOs in December notably TV broadcaster Nine Network Entertainment Co and transport company Pact Group Holdings Ltd which are both trading below their IPO price is making some wary about investing in new shares Last month s ASX debuts of Nine and Pact may damper valuations that Morgan Stanley and Goldman Sachs hope they can get

    Original URL path: http://www.businessspectator.com.au/news/2014/1/7/equity-capital-markets/champ-ventures-plans-sg-fleet-ipo-q1 (2014-01-12)
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