Word: interco
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...result of a 1987 buyout, was able to wipe out almost half its LBO debt through a new issue last May. Another technique is the debt-for-equity swap, in which corporations retire their bonds by giving lenders corporate stock. That strategy was employed by furniture maker Interco, which last week announced that it will swap 95% of the stock in the company for $400 million worth of its bonds. But selling equity has become difficult in the bearish stock-market climate, and stockholders in troubled corporations often protest new issues that would dilute the value of their shares...
...some companies, debt was a by-product of attempts to escape takeover raids. Interco, a St. Louis-based conglomerate whose holdings include the Converse and Florsheim shoe companies, borrowed $1.9 billion in 1988 to fend off a hostile bid. Interco said last month that it was willing to give creditors a controlling interest in the firm to avoid bankruptcy court...
Varsity Baseball will play game in the Eastern Interco League when it faces Annapolis. The Middles are contender for the should test the young squad's potential right...
...result was the inscription of Harvard's name on the first shield of the cup. At Monday night's meeting, however, it was voted that the rule should not again be relaxed, and the person consequently is refused. The Cricket Club's petition for permission to play their regular Interco egiate game at Philadelphia was also refused...
| 1 |