Van Kampen completes closed-end IPO

Article Abstract:

Van Kampen American Capital Senior Income Trust, a closed-end trust fund, has completed its initial public offering with proceeds totalling to $1.6 billion. The proceeds of the transaction, which was the biggest closed-end IPO since 1988, will be used for investment in senior floating-rate loans also called prime-rate loans. The outcome of the Van Kampen fund IPO shows that individual investors demand for closed-end bond funds has been revived. There have been two closed-end bond funds issues in 1998 that when combined raised over $900 million.

Comment:

Has completed its initial public offering with proceeds totalling to $1.6 billion

Other Financial Vehicles, Mutual Funds (Closed End), Closed end mutual funds, Van Kampen American Capital Senior Income Trust

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LucasVarity will shuffle its automatic activities

Article Abstract:

LucasVarity PLC will sell its heavy-vehicle braking-systems operations in Dayton, OH, as part of a reorganization of its automotive businesses. The move will result in the creation of LucasVarity Automotive, a new business unit that will group together the car-parts maker's light-vehicle braking systems, after market businesses, diesel systems and electrical and electronic systems. The new division, which will be based in Detroit, MI, will have John Plant as its president while Steve Dunn will assume the duties of deputy president and COO.

Comment:

Will sell its heavy-vehicle braking-systems operations in Dayton, OH, as part of a reorganization of its automotive businesses

United Kingdom, Asset sales & divestitures, Foreign operations, Auto Brakes, Motor Vehicle Brake System Manufacturing, Automotive brakes, LucasVarity PLC

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Bowling alley firm files for protection in the U.S. courts

Article Abstract:

AMF Bowling Worldwide Inc. has filed for bankruptcy protection in the United States. The company has been burdened by crushing debt resulting from a acquisition binge during the late 1990's.

Bowling centers, Bowling Alleys, Cases, Finance, Sports facilities, Bankruptcy, AMF Bowling Worldwide Inc.

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