Junk Bond Deal for Murray Energy to Take Over Bowie Resource Partners Falls Through

first_imgJunk Bond Deal for Murray Energy to Take Over Bowie Resource Partners Falls Through FacebookTwitterLinkedInEmailPrint分享Wall Street Journal: Bowie Resource Partners LLC, a Kentucky coal-mining company, pulled a $510 million debt deal Friday as investor sentiment toward high-yield debt became more cautious.The deal would have paved the way for a takeover of the company by Murray Energy Corp. and new bondholders.The proposed deal was intended to refinance Bowie debt set to mature in 2020 and would have cashed out Bowie’s current owner, commodity trading firm Trafigura PTE Ltd.The debt deal was a key condition in a new partnership Bowie planned to form with Murray Energy, to be called Canyon Consolidated Resources. Murray Energy was set to take a 30.5% stake in the company, and new bond investors would’ve gotten a 28.5% stake if the debt deal had gone through.The decision to pull the plug on the capital raise puts the fate of the Canyon partnership into question.More:  ($) “Coal Company Bowie Resource Partners Pulls Debt Deal Backing Takeover”last_img read more

Former rugby league star to join Munster backroom team

first_imgThe incoming Ireland defence coach will join the province for the next four months.Farrell – who was part of England’s coaching ticket for their 2015 World cup campaign – can’t work with an international team during the Six Nations as part of his gardening leave however he can work with clubs.The Reds have struggled in recent weeks losing 5 of their last 6 matches.last_img

Taxi driver shot during crossfire between bandits, Police Corporal

first_imgA taxi driver was admitted to the Georgetown Public Hospital on Sunday morning, following a shootout between a Police Corporal and two suspected bandits at the La Penitence Market.The injured man is Kennette Hoyte, 49, of Perry Street, Tucville, Greater Georgetown. Based on reports received, the man, who operates his taxi during the Sunday market day, was soliciting passengers when two suspected bandits snatched a gold chain from a Police Corporal who was also at the market.Guyana Times understands that after the men grabbed the gold chain, the Police Corporal who was later identified as Morris Williams whipped out his service revolver and discharged two rounds at the men.In retaliation, the men dropped the gold chain and returned fire. It was during the exchange of gunfire that Hoyte was shot. The two bandits made good their escape on a pedal cycle.It is not clear if Hoyte was accidentally shot by the Policeman or the bandits, but, according to reports, the Corporal was placed under close arrest.The injured man was rushed to the Georgetown Public Hospital where he was admitted. The Police are continuing their investigations into the matter.last_img read more