Banks Promised $7 Billion for a Casino Deal. Then the Coronavirus Hit [Yahoo! Finance News]
Federated Hermes, Inc. (FHI)
Last federated hermes, inc. earnings: 4/30 04:17 pm
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Source: Yahoo! Finance News
) -- Banks that agreed to provide over $7 billion of loans for Eldorado Resorts Inc.’s acquisition of Caesars Corp. face an uphill battle to offload the debt to investors as fears over the coronavirus outbreak wreak havoc across the travel and leisure industry. JPMorgan Chase & Co., Credit Suisse Group AG and Macquarie Group Ltd. agreed to the financing last June. Now, with the takeover expected to close as soon as next month, the underwriters are confronting a tight window to sell bond and loan buyers on the idea of lending to a highly leveraged gaming company just as Americans cancel their vacations, casinos empty out and the conference scene grinds to a halt. If the banks aren’t able to find enough takers, they may have little choice but to offer the debt at a steep discount. They could even be forced to come up with the cash themselves, burning a hole in their balance sheet as they wait for better days to shift the risk to investors. “The best comparison might be 9/11, when peopl
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FHI
News
- Federated Hermes, Inc. launches MDT Mid Cap Growth Collective Investment FundPR Newswire
- Over-priced Fed rate cuts make T-bills unattractive, Federated Hermes says [Yahoo! Finance Canada]Yahoo! Finance Canada
- Over-priced Fed rate cuts make T-bills unattractive, Federated Hermes says [Yahoo! Finance]Yahoo! Finance
- An excellent week for Federated Hermes, Inc.'s (NYSE:FHI) institutional owners who own 83% as one-year returns inch higher [Yahoo! Finance]Yahoo! Finance
- Month-end portfolio data now available for Federated Hermes Premier Municipal Income FundPR Newswire
FHI
Earnings
- 7/25/24 - Miss
FHI
Sec Filings
- 9/9/24 - Form 497
- 9/9/24 - Form 497K
- 8/28/24 - Form N-PX
- FHI's page on the SEC website