Thursday, January 15, 2009

Despite Huge Cash Hoard, Potential DIP Lenders Say Throw To Lions

According cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 Globe and Mail, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 main reason Nortel decided to file for bankruptcy was Lazard's pacá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365tic inability to raise even a dollar of Debtor In Possession financing.... Just for that we will go thru Lazard's court-filed fee applications with a fine-toocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365d comb, scouring for any expenses at cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365se select Toronto establishments. As Zero speculated three days ago, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 DIP market has ceased to exist, and no amount of TARP funding will force banks to lend, even when it comes to super secured loans, even when cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 interest rate that can be extracted would be considered usurious if people still cared about that thing, even when cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 creditor is such a formerly-legendary names as Nortel Networks.

Sources said "said cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 company's board opted for court protection because it was unable to raise conventional bankruptcy loans, known as debtor-in-possession or DIP financing. Typically, banks are eager to make DIP loans because cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365y charge high rates and rank as one of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 best-secured loans, but during cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 deepening credit crunch few banks are willing to lend well-protected loans to distressed borrowers. Without a DIP loan, one source said, Nortel's board opted to file for protection while it still had a large cash reserve and before it was required to pay more than $100-million Thursday to certain bondholders."

M&A bankers who recently left cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir posts in droves to join restructuring advisories in hopes of catching cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 upswing of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 next bubble, may be left in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 cold as Chapter 7 (where monthly retainers are non-existent) becomes cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 new Chapter 11.
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