Today’s dealbook | Dealbook blogs

Dealbook of the @nytimes has really come up in the last 2 years
American Airlines, struggling with slumping demand in the recession, asked lenders to ease the terms of its $435 million loan, people familiar with the request told Bloomberg News.

American sought the waiver of its fixed-charge covenant during a June 22 conference call overseen by Citigroup, the lender managing the amendment process, these people said. AMR, the carrier’s parent, asked creditors to commit to the change by June 25, the news service reported.

The move reflects the strain on U.S. airlines from a collapse in business travel and a 40 percent surge in jet-fuel prices since March 1.

Office Depot said Tuesday that the private equity firm BC Partners has made a $350 million investment through a preferred stock purchase, giving it a stake in the office supplies chain of approximately 20 percent.

BC bought about $275 million of the company’s Series A convertible perpetual preferred stock and approximately $75 million of its Series B conditional convertible perpetual preferred shares. Office Depot, previously announced that it would close approximately 9 percent of its North American stores

The World's best bank

JPMorgan Chase leads a list of the world’s strongest banks, while the Royal Bank of Scotland reported the biggest loss of any lender last year, according to new industry rankings by the British magazine The Banker.

The Royal Bank of Scotland’s $59.3 billion loss last year eclipsed all rivals, includingCitigroup’s $53 billion loss and Wells Fargo’s $47.8 billion loss, The Banker reported.

Global bank profits slumped 85 percent last year to $115 billion, down from $781 billion, and return on equity plunged to 2.69 percent, from 20 percent, the magazine estimated, according to Reuters.

via June 24 Announcements


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Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at:

Posted on June 24, 2009, in Bank Stocks, Financial Markets, Investments, Meltdown, Obamanomics, US and tagged , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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