ADVANCED CORPORATE FINANCE Chase’s Strategy for Syndicating the Hong Kong Disneyland Loan Group 1 AFNONIN‚ Artem 3035162144; ARDERN‚ Jeffrey 3035160914; GUPTA‚ Agrata 3035161097; KUTUZOVA‚ Ekaterina 3035162156; Disneyland - Chase Case Study Q1: How should Chase have bid in the first round competition to lead the HK$3.3 billion Disneyland financing? After being approached by Disney to raise HK$3.3 billion nonrecourse loan package on a fully underwritten basis‚ Chase had three options available
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of Unsecured Creditors of EBC I‚ Inc.‚ formerly known as eToys‚ Inc.‚ brought this action against defendant Goldman‚ Sachs & Co.‚ the lead managing underwriter of its initial public stock offering‚ alleging five causes of action related to the underwriting agreement: breach of fiduciary duty‚ breach of contract‚ fraud‚ professional malpractice and unjust enrichment. We hold that plaintiff’s complaint fails to state claims for breach of contract‚ professional malpractice and unjust enrichment. We
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Question 1. How important is turnaround time (TAT) in this business? In summary: The turnaround time (TAT) in the insurance business is very important. This because of the following arguments: - The most important factor to the agents in the insurance markets is the level of service provided. One of the most important aspects that determine the service level is the speed of handling the requests (TAT). - In addition‚ the factors that drive profitability in the industry are related
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that can be paid so as to get an acceptable negotiation in the market: which means that the rate should be high enough to attract investors and at the same time it should low enough to serve the best interests of the company. 2. Underwriting The purpose of underwriting something is to assume the risk that their will some loss happening in the transaction. So here‚ the company that issues new shares should be given an assurance that it will be able
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capital market of the developed world. It has lot of activities. But in Bangladesh it is totally a new concept which is in the stage of development. In Bangladesh investment bank mainly perform four kinds of activities. They are issue management‚ underwriting‚ portfolio management and corporate advising. IDLC Investments Limited is performing all of these four activities. IDLC Investments Limited is providing different capital market related services to the corporation and institution seeking for the
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think JPMorgan and Merrill Lynch were selected to underwrite and book-run all $23.3 billion in financings (all debt‚ common stock‚ and convertible)‚ instead of sharing the underwriting with additional firms? JPMorgan and Merrill Lynch had positive reputations after they both ranked highly in convertibles and common stock underwriting. These trustworthy banks had well-established ties to FCX. Also‚ these two firms agreed to issue a bridge loan to FCX prior to the acquisition. 2. What was the role
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Liberty Mutual M&A of SAFECO May 9‚ 2014 Company Profile Liberty Mutual Insurance Group is an American based global insurer that was founded in 1912‚ located out of Boston‚ Massachusetts. Liberty Mutual was created shortly after Massachusetts’s legislation passed a law requiring employers to protect their employees with workers’ compensation benefits. Liberty Mutual was established as a mutual company‚ which means it works on the behalf of its policyholders. With this type
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number of problems leading to these poor performance measures including unbalanced work load on the underwriting teams‚ department utilization‚ work prioritization‚ and some simple miscalculations in determining standard completion times (SCT)and total turnaround times (TAT) for policies. In order to correct some of the problems at the Fruitvale branch‚ the workload on each of the underwriting teams should be balanced as some of the teams may be handling more policies than the other teams. It
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1. Total syndication mount of 3.3 b 2. Loan term of 15 years 3. Flexibility on Other covenants 4. Price underwriting fee 100-150 bps 5. Market interest rate spread need 135-150 bps over HIBOR Of course to make this offer more aggressive‚ Chase could have bid: A commitment to underwrite the full amount upfront Acceptance to team up with another 2 lead arrangers Accepted a smaller underwriting fee‚ probably in the range of 90-130 bps Required smaller interest rate spread over the HIBOR for the investors
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management 3.11 Weak underwriting performance The insurance industry is in the position of high risk‚ especially for long-tail risk. Three important vehicles for the insurance company to use against the high risk and make a profit‚ which are risk pricing ability‚ provision for reserve policy and the investment decision. The combination of inferior risk pricing ability‚ under-reserving policy and failure investment decisions finally exhausts the financial resource of HIH. Underwriting is the core aspect
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