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The State of Ohio’s Highway Patrol Retirement System allocated $22 million in assets to senior secured loans in August as it seeks higher yield. Click HERE for more.
Sam Fazeli, Bloomberg Industries Eli Lilly has had the largest increase in 2013 adjusted consensus EPS estimates across large pharma peers since the start of the third quarter. This was mostly driven by deep cost cutting and better than expected sales from drugs like Cymbalta. Read more >>>
Third-quarter sales of structured notes in Europe and Asia fell to the least in more than a decade as all but two of this year’s 10 largest issuers saw a dropoff. DZ Bank AG, this year’s top seller of the securities, issued $3.42 billion in the three months, about half of the $6.76 billion sold [...]
Texas public charter schools, the fastest-growing part of the state’s education system, are poised to see their bonds go to top grade from near junk as a $33 billion fund backed by oil revenue prepares to guarantee the securities for the first time. Click here to continue reading.
A Detroit municipal-workers’ union can ask a Michigan employment judge to put in writing his opinion that the city violated labor laws when it unilaterally barred retirees from getting an extra pension check, a bankruptcy judge said. Click here to continue reading.
Italy’s two-year sovereign bond yield fell to 1.69 percent yesterday, the lowest in eight weeks, after Enrico Letta won a confidence vote in parliament, avoiding the risk of another election. Letta was supported by 235 senators while 70 opposed him during yesterday’s vote. Former Premier Silvio Berlusconi backtracked on a pledge to bring down the government amid signs [...]
Tesco Plc’s Fresh & Easy Neighborhood Market Inc. filed for bankruptcy so it can sell itself at auction with an affiliate of billionaire Ron Burkle’s Yucaipa Cos. as the lead bidder. Click here to continue reading.
Kinetic Concepts plans to buy back $112 million of bonds due 2019 when it has excess cash provided that the debt trades at an attractive price, said Nathan Speicher, the issuer’s vice president of investor relations and treasury. Click HERE for more.
Contribution by Phil Birch, Ph.D., Senior Vice President, Global Strategic Marketing at Aptiv Solutions Adaptive designs can bring substantial benefits to sponsor companies if adopted broadly at the portfolio level. For instance, available data indicate that futility stopping in Phase II and Phase III can save mid-size biopharma companies between $5 million and $10 [...]