|Bid||29.89 x 1000|
|Ask||29.93 x 800|
|Day's range||28.39 - 30.08|
|52-week range||22.11 - 42.39|
|Beta (5Y monthly)||1.90|
|PE ratio (TTM)||14.21|
|Forward dividend & yield||2.04 (7.08%)|
|Ex-dividend date||13 Feb 2020|
|1y target est||N/A|
(Bloomberg) -- Ladder Capital Corp. tapped investment bank Moelis & Co. for financing advice as the mortgage real estate investment trust grapples with the impact of the coronavirus pandemic.The New York-based REIT will work with Moelis “to evaluate financing alternatives to enable it to both navigate potential further market dislocations as well as take advantage of opportunities created by those dislocations,” Ladder said in a statement late Thursday. Bloomberg reported the hiring earlier in the day, citing people with knowledge of the matter.The REIT has more than $300 million of cash after paying its quarterly dividend, and has met all margin calls, according to the statement.Shares of Ladder Capital plunged as much as 27% Friday. They’ve tumbled more than 80% this year, leaving Ladder with a market value of about $400 million, a fraction of the almost $1.5 billion Stephen Ross’s Related Cos. offered for the REIT two years ago. Related ultimately withdrew its bid.Ladder has more than $6 billion of assets, filings show. The REIT originates and invests in commercial real estate and property-related assets. It focuses on senior secured assets, including loans with commercial properties as collateral and investment-grade securities backed by mortgages, according to its website. It also owns and operates commercial real estate.The pandemic has roiled the U.S. mortgage market, leading some firms to amend dividend policies and quickly unload billions of dollars in mortgage-backed securities to meet investor redemptions and manage liquidity issues.Ladder, led by Chief Executive Officer Brian Harris, raised $750 million in January by issuing bonds, with the proceeds used to repay secured indebtedness, it said at the time.Ladder announced last week that Michael Mazzei, a member of its board, stepped down to become CEO of Colony Credit Real Estate Inc., another REIT.(Updates with statement in second paragraph, share decline in fourth.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
PJT Partners Inc will advise the Treasury on its negotiations with the airlines, the sources said. Moelis & Co will advise the Treasury on its negotiations with companies in the cargo sector, for which $8 billion has been allocated, to be split equally between loans and grants, according to the sources. Perella Weinberg will advise the Treasury on its negotiations with companies that are active in industries important to national security, such as Boeing Co , according to the sources.
To the annoyance of some shareholders, Moelis (NYSE:MC) shares are down a considerable 30% in the last month. That...
NMC Health said it would ask for an informal debt standstill to stabilise the UAE-based hospital operator's finances as it confirmed on Monday that Moelis would advise it in talks with banks. NMC shares have lost more than half of their value since December when U.S. based short-seller Muddy Waters questioned its financial statements. London-listed NMC said in a statement on Monday it was "asking for continued support and an informal standstill in relation to existing facilities from its lenders to achieve an immediate stabilisation of the group's financing."
NMC Health , the UAE healthcare company, has hired Moelis & Co to advise on a debt restructuring, three sources familiar with the matter said on Sunday. The sources said NMC had hired Moelis in relation to its ability to meet debt obligations. Britain's Financial Conduct Authority (FCA) said on Feb. 27 it would investigate the finances of NMC Health, whose shares were suspended on the London Stock Exchange last week.
Moelis (MC) delivered earnings and revenue surprises of 52.00% and 9.31%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Moelis (MC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterCell C Pty Ltd.’s creditors aren’t giving up on a takeover offer from rival Telkom SOC Ltd., which South Africa’s third-largest mobile-network operator rejected last week.Senior debt holders have hired investment-banking firm Moelis & Co. and corporate lawyers Linklaters LLP and DLA Piper LLP to lobby for the Telkom proposal, people familiar with the matter said. They could block Cell C from pursuing an alternative recapitalization plan by forcing the carrier into liquidation or business rescue, said the people, asking not to be identified because talks are ongoing.A takeover by Telkom would return about 86 cents on the rand to lenders, while banks may have to take a deeper haircut if Cell C goes ahead with a transaction involving local investment company Buffet Group, they said. Creditors are also requesting that Cell C’s board act independently from Blue Label Telecoms Ltd., which owns 45% of the company, the people said.“Cell C and its various stakeholders, including the creditors, are working collaboratively to conclude a restructure that addresses all parties interests,” Cell C said in an email. “It is important to respect the confidentiality of these discussions. Information circulating in the public domain about these discussions should be viewed with a degree of caution. Cell C confirms that constructive discussions on the recapitalization are underway and will update the market on all material matters in due course.”Linklaters, DLA Piper and Moelis & Co. declined to comment, while Buffet Group could not be reached. Telkom said it hasn’t had any further communication from Cell C’s side.It’s not the first time Cell C has spurned advances from Telkom, which wants to combine the country’s two smallest network operators to better compete against industry leaders MTN Group Ltd. and Vodacom Group Ltd. After running into financial difficulties in 2016, Cell C opted for a deal with Blue Label.In July, Cell C missed interest payments and suspended future obligations, resulting in S&P Global Ratings cutting Cell C’s assessment to default. The company, which generates about 15 billion rand ($1 billion) in revenue, is struggling to repay about 9 billion rand of debt.Cell C agreed on an extended roaming agreement with MTN last month that will give it access to the network of South Africa’s second-largest wireless carrier. As part of that pact, Cell C will pay as much as 5 billion rand a year in roaming charges, from about 1.8 billion rand, the people said. Lenders haven’t been given a chance to review the deal, they said.(Corrects description of Blue Label stake in third paragraph and adds updated statement from Cell C in fourth paragraph for story published on Dec. 2)To contact the reporter on this story: Loni Prinsloo in Johannesburg at firstname.lastname@example.orgTo contact the editors responsible for this story: Rebecca Penty at email@example.com, Vernon Wessels, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Bain Capital, CVC Capital Partners and KKR & Co. are among bidders for Hong Kong-based game developer Leyou Technologies Holdings Ltd., according to people familiar with the matter.The buyout firms are selected to participate in the second round of bids, the people said, asking not to be identified because the matter is private. The firms are discussing potential financing options with investment banks, the people said. Leyou also attracted interests from other gaming companies, they said.Leyou said in September that it was holding preliminary talks with potential investors on possible transactions, which may lead to a public takeover. It hired Moelis & Co. as financial adviser. Shares of Leyou closed 0.4% higher on Tuesday, giving it a market value of about HK$8.1 billion ($1 billion). The stock fell as much as 3.8% earlier.Leyou was listed in Hong Kong in 2011 with products including free shooting games Warframe and Dirty Bomb. It’s also working with Amazon.com Inc. to co-produce a video game based on the popular fantasy series “The Lord of the Rings.” Other upcoming games are Civilization online and Transformers.Considerations are still ongoing, no final decision has been made and the companies could still decide against pursuing a transaction, the people said. Representatives for Bain, CVC and KKR declined to comment, while a representative for Leyou didn’t immediately respond to requests for comment.In the latest update on Oct. 16, Leyou said it has received a number of indications of interest from potential investors for the company or a substantial part of its business. These potential investors are conducting due diligence and there’s no agreement made for any transaction, it said.(Updates Leyou’s share price as market closes)To contact the reporters on this story: Manuel Baigorri in Hong Kong at firstname.lastname@example.org;Cathy Chan in Hong Kong at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
U.S. prosecutors said on Tuesday they had charged six members of an insider trading ring who worked for firms including Goldman Sachs Group , Moelis and Centerview Partners and allegedly booked tens of millions of dollars in illicit profits. The U.S. Attorney's Office for the Southern District of New York has arrested three members of the international ring and unsealed four separate indictments in recent days.