The operator of parking garages at the new Yankee Stadium , whose revenue is running 40 percent below projections, will make its April 1 debt payment, according to Nuveen Asset Management , which holds about half of the bonds.
Maple Group Acquisition Corp., comprised of 13 Canadian financial-services firms, will extend its C$3.73 billion ($3.69 billion) offer for TMX Group Inc. past a Jan. 31 deadline if it hasn’t received regulatory approvals to buy Canada’s main equities and derivatives markets.
Hedge funds specializing in distressed debt are buying municipal bonds backed by parking lots and garages at the new Yankee Stadium , which face a payment default as soon as next year, according to two people familiar with the purchases.
Maple Group Acquisition Corp., the group of Canadian banks and pension funds seeking to buy the Toronto Stock Exchange owner, will update investors this week on its C$3.73 billion ($3.61 billion) offer as talks continue with regulators and TMX Group Inc.
London Stock Exchange Group Plc and the Canadian banks and pension funds battling for control of TMX Group Inc. need to sweeten their bids because the competing cash and stock offers are too similar, investors said.