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Detroit Public Schools’ restructuring will require USD 214m refinancing of state aid notes

Detroit Public Schools’ restructuring will require USD 214m refinancing of state aid notes

June 10, 2016

As published by Gunjan Banerji, debtwire.com Detroit Public Schools’ USD 214m in Series 2011 and Series 2012 state aid notes will be refinanced as the distressed district splits into an “old” district and “new” district, Jeremy Sampson, a spokesperson for the… Continue Reading  

China’s Joyson closes on Key Safety Systems deal, eyes Takata acquisition

China’s Joyson closes on Key Safety Systems deal, eyes Takata acquisition

June 3, 2016

As published by Dustin Walsh, Crain’s Detroit Business Key Safety CEO says company is in the hunt for more acquisitions China’s Ningbo Joyson Electronic Corp. is interested in acquiring embattled airbag supplier Takata Corp. Joyson is looking to build on its… Continue Reading  

Pontiac School District restructures USD 10m emergency loan

Pontiac School District restructures USD 10m emergency loan

April 21, 2016

As published by Gunjan Banerji, debtwire.com Pontiac School District secured yesterday the approval of the Michigan Treasury to restructure a USD 10m emergency loan from the state, said Jeremy Sampson of the Treasury’s office. The terms of the loan will remain the same… Continue Reading  

After father’s death, Surnow’s sons build a family plan in real estate

After father’s death, Surnow’s sons build a family plan in real estate

March 28, 2016

As published by Kirk Pinho, Crain’s Detroit Business Sam Surnow has his hands in $107 million worth of new development projects in Royal Oak and Birmingham and a real estate ownership and management company with a portfolio valued at $275… Continue Reading  

What will developers pay for ‘hot spot’ building near new Detroit Red Wings arena?

What will developers pay for ‘hot spot’ building near new Detroit Red Wings arena?

March 1, 2016

As published by Mlive Bids are due Friday, March 4, for an outdated municipal office building on the edge of a sizzling hot redevelopment zone of Detroit. The building at 640 Temple is located midway between the new $627 million… Continue Reading  

Pontiac leaders draw battle lines over state oversight exit

Pontiac leaders draw battle lines over state oversight exit

February 29, 2016

As published by Andrew Scurria and Gunjan Banerji, debtwire.com The City of Pontiac’s branches of government are at loggerheads over how to leverage an overfunded pension system in its quest to exit receivership, said City Administrator Joseph Sobota. Pontiac’s General Employees… Continue Reading  

STALWARTS ROUNDTABLE – INVESTORS OUTLOOK FOR 2016

STALWARTS ROUNDTABLE – INVESTORS OUTLOOK FOR 2016

February 23, 2016

As published by the M&A Advisor In 2015, the value of mergers and acquisitions worldwide reached its highest level since before the Great Recession. Yet, storm clouds were on the horizon. China devalued its currency, setting off global market gyrations in August… Continue Reading  

Flint water contamination drains state’s financial, political resources

Flint water contamination drains state’s financial, political resources

February 2, 2016

As publishedby Maryellen Tighe and Gunjan Banerji, debtwire.com The Flint water quality deterioration is corroding investor confidence in Governor Rick Snyder’s ability to solve Michigan’s existing economic problems, said two buyside analysts and a restructuring advisor. Flint’s cost to Michigan will be huge… Continue Reading  

State poll bullish on biz, sour on politics

State poll bullish on biz, sour on politics

January 11, 2016

As published by Tom Henderson in Crain’s Detroit Business West Michigan and Southeast Michigan are divided by most of the width of the Lower Peninsula — and divided on many of the issues of the day, according to a poll by… Continue Reading  

Market split on state backing of Detroit Public Schools ahead of restructuring legislation

Market split on state backing of Detroit Public Schools ahead of restructuring legislation

November 10, 2015

As published by Gunjan Banerji, DebtWire Michigan’s state backing for schools is under a microscope once again as the municipal market awaits the USD 3.4bn restructuring of Detroit Public Schools (DPS), said market participants. As the state inches closer to… Continue Reading