Ed Sustar News
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NewPage Corp. bondholders, speculating the company needs no help in boosting earnings in a hobbled paper market, have seen the value of their holdings dwindle by $690 million since turning down a buyout offer in May from a rival controlled by Leon Black.
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NewPage Corp. debtholders are betting Leon Black’s Apollo Global Management LLC will raise its bid to obtain control of the paper maker instead of letting the firm emerge from bankruptcy and compete with Verso Paper Corp.
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Weyerhaeuser Co. , the second-largest owner of U.S. timberland, plans to triple its quarterly dividend to 15 cents ahead of its conversion to a timber real estate investment trust.
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Borrowers are on track to sell a record amount of high-yield bonds in Canadian dollars this year as investors seek to reduce currency risk and replace income trusts.
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Temple-Inland Inc. may squeeze $1.1 billion more out of International Paper Co.’s bid that’s already the most costly in the packaging industry in four years.
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Ralcorp Holdings Inc. and Temple- Inland Inc. are losing more money than ever for traders betting on higher takeover offers.
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NewPage Corp. is working with advisers to help restructure its debt as owner Cerberus Capital Management LP seeks to fend off distressed investors, including Apollo Global Management LLC.
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Toronto, host to this weekend’s Group of 20 summit, is preparing for an invasion of world leaders, police and protesters by shutting its doors.
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The yield premium investors demand to own junk bonds in Canada is near the lowest level in more than two years relative to those for investment grade securities amid a shortage of new debt sales.
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