Unilever NV and Unilever PLC have announced consent solicitations in connection with the proposed simplification of the dual-parent structure under a new single parent company, New NV.
Blackstone’s credit unit GSO and rival hedge fund Solus have settled a bitter dispute over homebuilder Hovnanian that has dented confidence in the credit derivatives market and attracted scrutiny from regulators, according to company statements.
Hovnanian did not find enough takers for a US$840m debt exchange, even after sweetening the terms of the offer and delaying its deadline several times over the past month.
Homebuilder Hovnanian missed a small interest payment on Tuesday as part of a controversial deal struck with Blackstone’s credit arm GSO that has gripped the credit derivatives market.
Thirteen months ago, on the day Deutsche Bank launched an €8bn rights issue to fill yet another hole in its balance sheet - its fifth capital raise since the global financial crisis - the German bank promised investors a new era of transparency.