Confab Industrial SA said its board gave approval for the company to get $350 million in five-year financing from HSBC Bank USA. Confab will use the money to acquire 25 million common shares from Usinas Siderurgicas de Minas Gerais SA, according to a regulatory filing.
A U.S. unit of HSBC Holdings Plc agreed today to strengthen a compliance program that federal bank regulators said was ineffective and created “significant potential” for money laundering and terrorist financing.
Morgan Stanley can’t ask a court in Singapore to block shareholders living in that country from suing over their losses on $154.7 million in synthetic collateralized debt obligations, a judge in New York ruled.
Midland Loan Services Inc., the special servicer for $825 million in fixed-rate mortgages on property of Innkeepers USA Trust , filed papers on Feb. 1 objecting to the request by LNR Securities Holdings LLC and Appaloosa Management LP for the right to oppose the newly proposed Innkeepers reorganization structure.