U.S. Senate leader hopeful of Democrats’ support for Puerto Rico debt bill

BRIEF-Comdisco files motion for final decree closing bankruptcy cases and providing related relief
* Comdisco holding company inc says files motion for final decree closing bankruptcy cases and providing related relief

BRIEF-Verso’s plan of reorganization confirmed by bankruptcy court
* Verso’s plan of reorganization confirmed by bankruptcy court

Novo Banco offers exit route to senior bondholders
LONDON, June 23 (IFR) – Novo Banco wants to buy back eight senior bonds at a deep discount to par to bolster its balance sheet and reduce interest expense.

Russian PM says VEB should become a moderator of loans
MOSCOW, June 23 (Reuters) – Russian Prime Minister Dmitry Medvedev said on Thursday the country’s VEB development bank should be a moderator of loans rather than a creditor.

BRIEF-Vet’Affaires placed in compulsory liquidation
* Placed in compulsory liquidation with three months continuation of activities Source text: http://bit.ly/28QPOZc Further company coverage: (Gdynia Newsroom:)

RUSSIA’S ULYUKAYEV SAYS DOES NOT RULE OUT THAT VEB COULD SELL GAZPROM’S ADRS BACK TO GAZPROM
RUSSIA’S ULYUKAYEV SAYS DOES NOT RULE OUT THAT VEB COULD SELL GAZPROM’S ADRS BACK TO GAZPROM

Novo Banco launches tender offer on eight bonds
LONDON, June 23 (IFR) – Novo Banco has launched a discounted cash tender on eight bonds as it seeks to improve its capital position and improve future interest expenses.

BRIEF-Olidata receives letter of intent from MGH Systems Limited for possible merger
* Receives expression of interest from MGH Systems Limited for possible merger with Olidata, subject to some conditions Source text for Eikon: Further company coverage: (Gdynia Newsroom)

UPDATE 1-Novo Banco looks to boost capital with discounted senior tender
LONDON, June 23 (IFR) – Novo Banco is seeking to buy back up to 500m of senior debt, some of which is held by retail investors, at a discount to par as it looks to bolster its balance sheet.

PRESS DIGEST- British Business – June 23
June 23 – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

U.S. judge gives Caesars green light to pursue reorganization plan
CHICAGO, June 22 (Reuters) – The casino operating unit of Caesars Entertainment Corp can begin seeking creditor votes for a plan to exit its long and contentious $18 billion bankruptcy, a U.S….

BRIEF-Kalobios Pharma says bankruptcy court confirmed amended plan of reorganization
* Kalobios Pharmaceuticals Inc says on June 16, 2016, bankruptcy court entered an order confirming its amended plan of reorganization

Brazil’s Oi says U.S. tribunal approves bankruptcy protection request
RIO DE JANEIRO, June 22 (Reuters) – Brazilian telecoms provider Oi SA said on Wednesday a U.S. tribunal approved its request for Chapter 15 bankruptcy protection.

BRIEF-Caesars Entertainment enters into restructuring support and settlement agreement
* Co, unit on June 22, 2016, with debtor subsidiaries entered into restructuring support and settlement agreement (“UCC RSA”)

Banco do Brasil sees possible 3rd qtr rebound in consumer credit
SAO PAULO, June 22 (Reuters) – State-controlled Banco do Brasil SA, the nation’s largest bank by assets, expects demand for consumer credit to slightly recover in the third quarter, Raul Moreira,…

Brazil to ensure Oi service, jobs are preserved during bankrutpcy plan
BRASILIA, June 22 (Reuters) – The Brazilian government will ensure that customer service and jobs are preserved at Oi SA during the phone carrier’s bankruptcy protection process, Chief of Staff…

Brazilian judge suspends legal actions against Oi for 180 days
BRASILIA, June 22 (Reuters) – A Rio de Janeiro judge suspended all legal action against Brazil’s Oi SA and its subsidiaries for 180 days after the phone carrier asked for bankruptcy protection, Oi…

BRIEF-Adcare Health says New Beginnings Care becomes debtor in possession
* New beginnings care, llc became a debtor in possession in a series of bankruptcy cases jointly administered under new beginnings care, llc, et al., bankr. e.d. Tn chattanooga division

BRIEF-Caesars Ent says first amended restructuring support and forbearance agreement becomes effective
* On june 21, first amended restructuring support and forbearance agreement became effective as it was signed by requisite consenting bank creditors

Dividend tax scandal: how banks short-changed Germany
* Finance ministry may have missed earlier chances – documents

UPDATE 1-Brazil says banks solid after Oi bankruptcy petition
SAO PAULO, June 21 (Reuters) – The bankruptcy petition of mobile phone carrier Oi SA, the biggest ever in Brazil, poses no threat to the country’s state banks or the wider financial system. the…

PRESS DIGEST- British Business – June 22
June 22 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

U.S. Senate to debate Puerto Rico debt bill, Democrats want changes
WASHINGTON, June 21 (Reuters) – U.S. Senate Democratic leader Harry Reid on Tuesday said amendments were necessary to a Puerto Rico debt bill that Senate Majority Leader Mitch McConnell said would be…

Brazilian banks solid after Oi bankruptcy petition -central bank
SAO PAULO, June 21 (Reuters) – The bankruptcy petition of mobile phone carrier Oi SA, the biggest ever in Brazil, poses no threat to the country’s financial system, central bank director Aldo Mendes…

UPDATE 1-U.S. Senate prepares Puerto Rico debt debate amid Democrats’ concerns
WASHINGTON, June 21 (Reuters) – U.S. Senate Democratic leader Harry Reid said on Tuesday that amendments were necessary to a Puerto Rico debt bill that Senate Majority Leader Mitch McConnell said…

BRIEF-Caesars Entertainment Corp- To amend restructuring support and forbearance agreement with CEOC, consenting bank creditors
* To amend restructuring support and forbearance agreement with CEOC, consenting bank creditors for restructuring CEOC’s debt

BRIEF-S&P downgrades Oi SA to ‘D’ from ‘CCC-‘
* S&P downgrades Oi SA to ‘D’ from ‘CCC-‘ following announcement of judicial reorganization filing

Soaring bankruptcies pose no threat to Brazil banks, group says
SAO PAULO, June 21 (Reuters) – Brazilian banks are prepared to withstand a surge in the number of bankruptcy protection filings, as their level of outstanding loan-loss provisions top minimum…

BRIEF-Fitch downgrades OI S.A.’s ratings to ‘D’
* Fitch downgrades OI S.A.’s ratings to ‘D’; Downgrades reflect OI’s filing for a request for judicial reorganization with court of Rio De Janeiro Source text for Eikon: Further company coverage:…

In economic speech, Clinton previews a ‘Trump recession’
WASHINGTON, June 21 (Reuters) – Democratic White House hopeful Hillary Clinton on Tuesday called her Republican rival Donald Trump a potential disaster for the economy, saying the “the king of debt”…

Caesars amends restructuring agreement with senior debtors
June 21 (Reuters) – Caesars Entertainment Corp said on Tuesday it had agreed with its senior creditors to amend a restructuring agreement that would allow it to go through with a bankruptcy exit plan…

UPDATE 1-China’s onshore defaults could spill over to offshore bonds-S&P
HONG KONG, June 21 (Reuters) – Defaults in China’s domestic bond markets are likely to continue rising as corporate profitability remains under pressure and debt burdens increase, rating agency S&P…

BRIEF-Neschen: Arndt Geiwitz appointed insolvency administrator
* Self-administration repealed – Arndt Geiwitz appointed insolvency administrator

Kenya’s NIC Bank appointed to assess assets of closed Imperial Bank
NAIROBI, June 21 (Reuters) – Kenya’s NIC Bank has been appointed as a consultant to assess the assets and liabilities of Imperial Bank, which was put into receivership in October after fraud was…

Onshore defaults in China could spill over to offshore bonds-S&P
HONG KONG, June 21 (Reuters) – Defaults in China’s domestic bond markets are likely to continue rising as corporate profitability remains under pressure and debt burdens increase, rating agency S&P…

Brazil’s Oi, units file for bankruptcy protection
SAO PAULO, June 20 (Reuters) – Oi SA and six subsidiaries filed for bankruptcy protection in a Rio de Janeiro court on Monday, after Brazil’s most indebted phone carrier failed to reach an agreement…

BRIEF-Sports Direct & Modell’s are discussing a joint bid for bankrupt Sports Authority – CNBC, citing Dow Jones
* Sports Direct & Modell’s are discussing a joint bid for bankrupt Sports Authority – CNBC, citing Dow Jones Further company coverage: (Bengaluru Newsroom)

Sports Direct, Modell’s discuss joint bid for Sports Authority -WSJ
June 20 (Reuters) – British retailer Sports Direct and New York City-based Modell’s Sporting Goods are in talks for a potential deal to buy as many as 200 stores of bankrupt retailer Sports…

Alpha Natural reorganization plan not viable -U.S. government
CHICAGO, June 20 (Reuters) – The U.S. Department of Justice has opposed a plan by coal producer Alpha Natural Resources to sell valuable assets to its creditors, which it said puts significant mine…

Brazil’s Oi sees normal operations during bankruptcy protection
SAO PAULO, June 20 (Reuters) – Oi SA, Brazil’s largest fixed-line phone carrier, plans to maintain its operations, management and workforce at normal levels once a bankruptcy court approves a plan to…

U.S. offshore regulator to unveil tougher environmental safeguards
CHICAGO, June 20 (Reuters) – The U.S. government agency created after the 2010 Deepwater Horizon oil spill plans in coming weeks to unveil tougher financial requirements for offshore oil producers…

BRIEF-Court declares bankruptcy of Kondopoga
* Says court declares company bankruptcy and starts bankruptcy proceedings Source text: http://bit.ly/28JczhM Further company coverage: (Gdynia Newsroom)

BRIEF-S&P downgrades Key Energy Services to ‘CC’ on restructuring support agreement
* Key Energy Services Inc. downgraded to ‘CC’ on restructuring support agreement; outlook remains negative

BRIEF-Bankruptcy petition against Viking Supply Ships A/S is withdrawn
* Bankruptcy petition against Viking Supply Ships A/S (VSS A/S) is withdrawn

BRIEF-Paragon shipping says discharged from all obligations under loan agreement
* Discharged from all obligations under loan agreement, including a waiver of outstanding debt amount of $8.3 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom:…