Looking real good. Positive turn of events!
AlixPartners document on January details. Worth a read. CIM info related to UBS. Discussions of $3B scenario with sale of properties in 2012. Analysis and meetings.
Looks like UBS/MB working on several possible scenarios (Scenarios 1-3) back in January. Wonder what direction they're going?
"Comparison of Scenario 2 vs Scenario 3 business plan sale entities"
pdf 37 or 157
"Business plan scenario modifications-timing of various entity sales"
pdg 38 of 157
A Confidential Information Memorandum is put together by a lead bank for a corporate credit facility when they wish to invite other banks to participate in the facility. Typically these memorandums tell you about the company seeking credit, why they want the credit, what it will be used for and how they intend on paying the money back. One thing needs to be kept in mind when reading one of these documents, and that is that the lead bank has put it together and they will describe the company/deal in its best possible light as they want other banks to buy.
Banks often look for suiters for a credit facility that they don't want to assume all the risk on. Part of the information they organize is the Corporate Information Memorandum.
For example Company A wants $100 million and Bank A likes the company/owners/business etc and feels they could service $100 million. Bank A doesn't want to be the sole lender of the $100 million so they look for other banks to lend a portion say $40 million leaving Bank A's exposure at $60 million
Looks like the unsecured creditors are coming to their senses.
Of course, approximately 60% of the current unsecured creditors are now Hedgies, so their goals and objectives are vastly different from the parties that they purchased that debt from.
Just got done reading a few hours worth of January billings w/notes. UBS and Miller Buckfire are busy busy busy. Mentioned all over the place. Trying to figure out notes, names and references.
"VCK disclosure statement"
"work relating to assembling data for investment bankers for CIM"
keep up the good work....this beats working 9to4 any time of the week.
I wonder why the unsecured loans to their objection for UBS....maybe they want some stock?