Day: June 26, 2020

Wirecard Raced to Win Funds in Months Ahead of Insolvency

(Bloomberg) — Months before Wirecard AG admitted that it was missing more than $2 billion in cash, the payments company was racing to load up on funds, adding debt and offering market-beating interest rates to clients who made deposits.

In September, it issued its first investment-grade bond, raising 500 million euros ($561 million). Shortly after, it sold a 900 million-euro convertible bond with the help of Softbank Group Corp., which had pledged its backing earlier that year in a display of support after allegations of accounting irregularities surfaced.

Some of the money was earmarked to pay down an existing 1.75

Atmanirbhar Rojgar Abhiyan HIGHLIGHTS: Modi kicks off jobs launch event; says UP now darling of investors

Atmanirbhar Rojgar Abhiyan HIGHLIGHTS: The scheme is being launched by the Prime Minister virtually through video conference in the presence of UP chief minister Yogi Adityanath.

Modi’s Atmanirbhar Rojgar Abhiyan HIGHLIGHTS: Prime Minister Narendra Modi has launched the Uttar Pradesh government’s ‘Atmanirbhar UP Rojgar Abhiyan’ today as the government looks to help migrant workers. Over 1.25 crore migrant workers and labourers across 31 districts in Uttar Pradesh who lost their jobs due to coronavirus pandemic are likely to benefit from this unique initiative. The scheme has been launched by the Prime Minister virtually through video conference in the presence of

India’s first overseas syndicated loan may signal end of fundraising woes for India Inc

No other Indian borrower has marketed an overseas facility to a broad pool of lenders since March.

Indian companies that have struggled to borrow money from international banks in recent months amid the pandemic are closely watching how a data firm seeking a dollar loan fares.

Mu Sigma Inc., a data analytics company founded by Indian entrepreneur Dhiraj Rajaram, is marketing an up to $100 million refinancing loan to so-called general syndication. No other Indian borrower has marketed an overseas facility to a broad pool of lenders since March, and offshore loan volumes from India have dropped to the lowest