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Petra Diamonds Warns of Lending Breach
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PetraDiamonds is likely to breach its lending covenants following strikes at threeSouth African mines and a dispute over valuation at its operations in Tanzania,it warned.Thecompany has informed its lenders that it might fail to meet certain ratiosrelated to its...
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Mining
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Oct 15, 2017
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Rapaport News
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Bank Seizes Exelco’s Assets: Bloomberg
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Belgian bank KBC Group has seized assets of Antwerp diamond firmExelco to recover unpaid loans, according to a report by Bloomberg this week.In an effort to recoup $29 million (EUR 26 million) fromExelco, the lender had bailiffs search...
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Financial-Legal
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Jul 06, 2017
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Rapaport News
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Firestone Ups Liqhobong Production Forecast
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Firestone Diamonds has raised its production outlook for theLiqhobong mine to 360,000 carats for the fiscal year ending June 30.Operations at the Lesotho-based project, which the company initially predicted would produce 300,000...
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Mining
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Jun 25, 2017
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Rapaport News
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Shrenuj Nears Debt Deal to Ease Liquidity Crisis
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Shrenuj & Co. is close to securing at least $100 million in “long-term” fundingfrom an unidentified institutional investor to ease the beleaguered company’s debtcrisis.The diamond and jewelry manufacturer will deploy the timely externalfinancing to relieve pressure on liquidity,...
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Manufacturing
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Nov 29, 2016
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Rapaport News
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ALROSA Repays $185M Worth of Commercial Bonds
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In the past week, ALROSA repaid Series 20–23 commercial bonds of $185 million (RUB 10 billion) that were placed on Moscow Exchange in June 2010.According to a company statement, the bonds were repaid through a liquidity source of cash...
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Financial-Legal
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Jun 23, 2015
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Jeff Miller
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ALROSA Takes Measures to Improve Liquidity
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Press Release: As of December 1, 2014, ALROSA has $3.6 billion of bank loans and public debt instruments, including debt maturing in 2015 -- $600 million of loans from JSC VTB Bank, $348 million (RUB 20 billion) of commercial...
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Financial-Legal
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Dec 12, 2014
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ALROSA
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Tiffany & Co.'s Revenue +5%, Profit -60%
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Tiffany & Co. reported that revenue rose 5.3 percent year on year to $959.6 million in the third quarter that ended on October 31. Same-store sales rose 4 percent. The jeweler reduced cost of sales by 0.8...
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Financial-Legal
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Nov 25, 2014
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Jeff Miller
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Mountain Province Appoints Banks for $370M Facility
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Mountain Province Diamonds Inc. selected three banking institutions to arrange and underwrite a senior secured term loan facility of up to $370 million to fund the company's share of construction costs at the Gahcho Kué diamond mine located...
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Financial-Legal
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Jul 28, 2014
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Jeff Miller
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Financial-Legal
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Apr 30, 2014
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ALROSA
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JCPenney's 3Q Revenue -5%, Loss Surges to $489M
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J.C. Penney Company Inc. reported that its revenue fell 5.1 percent year on year to $2.78 billion in the third quarter that ended on November 2; however, the retailer held cost of goods sold relatively flat...
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Financial-Legal
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Nov 20, 2013
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Jeff Miller
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Japan Increases Sales Tax to 8% in April
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Japan's Prime Minister Shinzo Abe will increase the country's sales tax on April 1, 2014 from 5 percent to 8 percent and add another two percentage points in October 2015 in an effort to arrest the country's growing debt....
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Financial-Legal
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Oct 02, 2013
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Jeff Miller
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Neiman Marcus' 4Q Profit Grows to $3M
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Neiman Marcus Group LTD Inc., formerly referred to as Neiman Marcus Inc., reported that its revenue rose 11.3 percent year on year to $1.119 billion for the fourth fiscal quarter that ended on August 3. Comparable-store...
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Financial-Legal
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Oct 01, 2013
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Jeff Miller
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Sears' 2Q Revenue -6%, Loss Jumps to $194M
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Sears Holdings reported that its revenue slipped 6.3 percent year on year to $8.87 billion for the second quarter that ended on August 3. Comparable-store sales in the U.S. fell 1.5 percent, while same-store sales...
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Financial-Legal
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Aug 22, 2013
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Jeff Miller
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JCPenney's 2Q Sales -12%, Loss Surges to $586M
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J.C. Penney Company Inc. reported that its revenue and same-store sales plunged 11.9 percent year on year to $2.7 billion for the second quarter that ended on August 3. Cost of goods sold fell only...
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Financial-Legal
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Aug 20, 2013
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Jeff Miller
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JCPenney Calls CIT Report Untrue
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J. C. Penney Company Inc. claimed that CIT continues to support its suppliers, contrary to news reports from yesterday, which sent the retailer's shares plummeting about 12 percent. CIT continues to factor and support deliveries from...
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Financial-Legal
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Aug 01, 2013
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Jeff Miller
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Financial-Legal
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Apr 26, 2013
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Jeff Miller
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Financial-Legal
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Feb 27, 2013
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Jeff Miller
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Zale's Revenue +7%, Narrows Loss to $32M
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Zale Corporation increase its revenue 7.3 percent year on year, during the first-fiscal quarter, to $351 million and cost of sales rose 0.8 percent to $163.3 million for the three months that ended on October...
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Financial-Legal
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Nov 21, 2011
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Jeff Miller
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Zale Extends Maturity Date on Loans
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Zale is extending the maturity of its $120 million, asset-backed credit facility by more than two and a half years, pushing the maturity from August 2011 to April 30, 2014. The portion of Zale’s debt being extended includes a seasonal adjustment of $20 million, while the retailer’s commitment...
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Retail
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Apr 27, 2011
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Ricci Dipshan
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