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Latest Cerberus Capital Management Stories

2009-09-08 07:00:00

MIAMISBURG, Ohio, Sept. 8 /PRNewswire/ -- NP Investor LLC ("NPI"), an affiliate of Cerberus Capital Management, L.P., the indirect controlling shareholder of NewPage Corporation ("NewPage"), announced today that it has extended the Withdrawal Deadline, Early Participation Time and Expiration Time for its previously announced cash tender offer (the "Second Lien Notes Offer") to purchase certain of NewPage's outstanding Floating Rate Senior Secured Notes due 2012 (the "Floating Rate Notes")...

2009-08-21 15:55:00

MIAMISBURG, Ohio, Aug. 21 /PRNewswire/ -- NP Investor LLC ("NPI"), an affiliate of Cerberus Capital Management, L.P., the indirect controlling shareholder of NewPage Corporation ("NewPage"), announced today that it has extended the Withdrawal Deadlines, Early Participation Times and Expiration Times for its previously announced (i) cash tender offer (the "Subordinated Notes Offer") to purchase certain of NewPage Holding Corporation's outstanding Floating Rate Senior Unsecured PIK Notes...

2009-08-14 16:27:00

MIAMISBURG, Ohio, Aug. 14 /PRNewswire/ -- NP Investor LLC ("NPI"), an affiliate of Cerberus Capital Management, L.P., the indirect controlling shareholder of NewPage Corporation ("NewPage"), announced today that it has extended the Withdrawal Deadline, Early Participation Time and Expiration Time for its previously announced cash tender offer (the "Offer") to purchase certain of NewPage Holding Corporation's outstanding Floating Rate Senior Unsecured PIK Notes due 2013 (the "NewPage...

2009-08-10 07:00:00

DETROIT, Aug. 10 /PRNewswire/ -- GMAC Financial Services today announced it will offer a leasing option for auto consumers on select vehicles. "GMAC's increased funding flexibility, the completion of key manufacturer restructurings and rising used car values have made leasing a viable financing option," said Bill Muir, GMAC president. "We will support a lease promotion by General Motors in 45 states, and may add a leasing option for other makes or models in the future. While we do not...

2009-07-15 14:28:00

MIAMISBURG, Ohio, July 15 /PRNewswire/ -- NewPage Corporation ("NewPage") announced today several concurrent transactions which are intended to increase NewPage's operating flexibility and reduce its indebtedness. (Logo: http://www.newscom.com/cgi-bin/prnh/20080514/NEWPAGELOGO) As part of the concurrent transactions, NewPage is seeking to amend certain provisions of its senior secured term loan credit facility and senior secured revolving credit facility, and to purchase and cancel a...

2009-07-14 12:32:00

FARMINGTON HILLS, Mich., July 14 /PRNewswire/ -- Chrysler Financial announced today it has repaid in full the $1.5 billion of Troubled Asset Relief Program (TARP) government loans. The Company originally secured TARP funding in January of this year to support Chrysler LLC in its efforts to remain viable. Chrysler Financial used the TARP loans to fund more than 85,000 consumer loans to support the sale of Chrysler, Jeep(R) and Dodge vehicles for Chrysler LLC. The TARP funds were kept in...

2009-07-06 10:00:00

DETROIT, July 6 /PRNewswire/ -- GMAC Financial Services has been notified that the U.S. Bankruptcy Court has approved the sale of assets of General Motors Corporation to an entity sponsored by the U.S. Treasury. In conjunction with the closing of the sale, the contracts GM has with GMAC will be transferred to the new GM entity. GMAC is pleased to conduct its business operations with the new GM entity and to be part of the solution to stabilize and strengthen the U.S. auto industry. GMAC is...

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2009-06-09 13:00:00

Ford Motor Co. Treasurer Neil Schloss says keeping the second-largest U.S. automaker free of government loans has its advantages. Although GMAC LLC -- the lending firm associated with General Motors Corp. and Chrysler LLC -- has changed its official status to a bank and received $13.5 billion in government loans, there are significant benefits from an operating perspective to being able to have the credit guys and the marketing guys and sales guys working right next to each other, Schloss...

2009-06-03 16:54:00

Company participates in FDIC's Temporary Liquidity Guarantee Program DETROIT, June 3 /PRNewswire/ -- GMAC Financial Services today announced that it has priced an offering for $4.5 billion of debt guaranteed by the Federal Deposit Insurance Corporation (FDIC) pursuant to the FDIC Temporary Liquidity Guarantee Program (TLGP). This offering further improves the company's liquidity profile. The securities offering included $3.5 billion aggregate principal amount of senior fixed rate notes and...

2009-06-01 18:22:00

DETROIT, June 1 /PRNewswire/ -- GMAC Financial Services has been notified that the U.S. Bankruptcy Court has approved a motion presented by General Motors Corp (GM) that enables GMAC to conduct its direct operations with GM in the ordinary course. As previously stated, GMAC continues to conduct all of its operations, including offering automotive financing products and services to both GM and Chrysler dealers and customers. GMAC is a bank holding company with a newly appointed board of...


Word of the Day
lambent
  • Licking.
  • Hence Running along or over a surface, as if in the act of licking; flowing over or along; lapping or bathing; softly bright; gleaming.
This word comes the Latin 'lambere,' to lick.
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