Replies to post #78005 on Lehman Brothers Financial SA (LEHNQ)

[JERSEYHAWG]

Jimzin, that info is from 2009 ?????????


What are you thinking on this?

[cottonisking]

This 2009 list of banks from my previous post below read like the list of banks that filed an objection to the ECAPS' stock substitution scheme in 2018 and have a hearing scheduled on June 7, 2018 (exactly 90 days after LUK's bankruptcy plan effective date)with Judge Chapman. Maybe these banks (ECAPS holders) are working on their desired solution to the ECAPS problem!

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"A group of banks, including Barclays, Citi and Credit Suisse, has committed to provide BlackRock with a new 364-day revolving credit facility of up to $2.0 billion. The facility would be drawn at closing to the extent necessary and repaid during the term from the proceeds of any capital raising transactions. It is BlackRock’s intent to refinance any draw down under this facility with the proceeds of term debt financings.
BlackRock has received commitments from a group of institutional investors to purchase 19.9 million shares at the closing of the transaction for a total of $2.8 billion.

In addition to the conclusion of the go-shop arrangement, the transaction is subject to approval by Barclays shareholders, regulatory approvals, client consents and customary conditions.

Citi and Credit Suisse served as lead financial advisors to BlackRock. Banc of America Merrill Lynch Securities, Morgan Stanley, and Perella Weinberg Partners provided additional financial advisory support. Skadden, Arps, Slate, Meagher & Flom served as legal counsel to BlackRock."

https://www.businesswire.com/news/home/20090611006181/en/BlackRock-Agrees-Acquire-Barclays-Global-Investors-Including