Thornburg Puts in on the Visa

Forbes, via Atrios.Thornburg, which is based in Santa Fe, N.M., has been beset by “margin calls,” or lenders demanding their money back.The company reached a deal under which its lenders would stop issuing margin calls if Thornburg raised $948 million.A bond sale arranged to raise money at a 12 percent interest rate failed, and now the company is trying to sell $1.35 billion in bonds at an 18 percent interest rate.
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Original Source: feeds.feedburner.com/CalculatedRisk

  31 March, 2008| housingblogs | @ 16:11

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