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Lesco sells receivables, refinances bank debt, eliminates interest rate...

Lesco Inc. (Nasdaq: LSCO) has completed the restructuring of its debt. Lesco said the restructuring includes the sale, for US$58 million, of the company's receivables portfolio to GE Business Credit Services; the refinancing of previous bank loan facilities with a...

#bank#bank loan#conference

ICBC (Asia) to merge with Fortis Bank Asia HK...

Fortis (Fortis) has announced that the bank has signed a Sale and Purchase Agreement with Industrial and Commercial Bank of…

#bank#Bank of China#ICBC


MFB makes first venture capital deal and boosts overseas...

The Hungarian Development Bank Rt (MFB) has made its first investment as part of its new venture capital activity. MFB…

#bank#Boost#i


Jamaica to expand mobile network with EX-IM Bank-financed exports

Cable and Wireless Jamaica Limited (CWJ) is purchasing U.S.-manufactured cellular communications and equipment from Nortel Networks Inc., and eight other…

#bank#emerging markets#exporters


TMM closes extra certificates under receivables securitisation programme

Mexican transport conglomerate Grupo TMM has closed a further US$25 million of certificates under a receivables securitisation programme, worth a…

#bank#commercial finance#receivables


Interest rate cut by 0.4%

Bank of Israel governor David Klein announced a 0.4 percent cut in the interest rates on 30 December, as was…

#bank#interest#interest rate


HSBC Bank USA sells U.S. factoring assets

"HSBC's decision to exit the domestic factoring business was made as a result of our new strategic plan's emphasis on…

#bank#CIT#CIT Commercial Services


Hermes considers action to recover debt from Russian bank

Germany's Euler Hermes Kreditversicherungs (Hermes) credit insurance agency plans to sue bankrupt commercial bank Inkombank to recover past debts from…

#bank#bankruptcy#Commerzbank


Calpia announces name for new bank in 2004

Salvadorian finance company Calpia will start operating as a bank in January 2004 under the name Banco ProCredit, according to…

#bank#banks#World Bank


Business life in the fast lane

Nearly two-thirds (60 per cent) of UK businesses have grown their turnover in the last 12 months, with almost a…

#bank#cash-flow#invoice


BNDES increases small business lending

Brazil's national development bank BNDES boosted its lending to micro- and small-size enterprises by 20% to more than 10bn reais…

#bank#Caixa#funding


EBRD leads first syndicated loan

Bosnia and Herzegovina received on Wednesday its first syndicated loan, which would introduce international commercial banks to the country’s banking…

#American Express#bank#international

Ex-Im Bank supports sale of services, equipment to foundation...

The Export-Import Bank of the United States (Ex-Im Bank) has approved a US$38 million loan guarantee to support the sale…

#bank#Deutsche Bank#exporters

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