WhiteHorse Finance, Inc. Reports Second Quarter 2013 Earnings Results

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August 15, 2013 by apicomely

Results of Operations For the three and six months ended June 30, 2013, WhiteHorse Finance reported net investment income of $4.9 million and $8.9 million, respectively, for a quarter to quarter increase of 21.0%. For the three and six months ended June 30, 2013, WhiteHorse Finance reported unrealized depreciation of investments of $1.7 million and $2.2 million, respectively. For the three and six months ended June 30, 2013, WhiteHorse Finance reported a net increase in net assets of $3.2 million and $6.7 million, respectively. The Company’s NAV was $225.1 million as of June 30, 2013, resulting in an NAV per share of $15.04, as compared with $229.0 million, or $15.30 per share, reported as of December 31, 2012.

Finance Minister P Chidambaram draws a line to check CAD at 3.7%

Measures to contain gold imports, including raising customs duty to as much as 10% (the current tariff is 8%), are expected to bring down imports by 100 tonnes to 850 tonnes this year. Further, the government expects a natural compression in oil demand resulting in dollar savings of about $1.5 billion. This could go up if it is able to import more oil from Iran. As far as inflows are concerned, Power Finance Corporation, Indian Railways Finance Corporation and IIFCL would together raise $4 billion through quasi-sovereign bonds while public sector oil companies will raise overseas debt worth $4 billion. Liberalised norms for NRI deposit schemes could result in inflows of $1 billion and a liberal external commercial borrowings scheme will help fetch another $2 billion.

French finance minister confirms ‘end of recession’

* Strategic Value Partners (SVP) is targeting other private equity firms as potential buyers of its German plastic films maker Kloeckner Pentaplast, three sources familiar with the deal said. * Saudi Telecom’s (STC) Indonesian unit has picked Moelis & Co to advise it on negotiations with lenders as the operator steps up efforts to restructure a $1.2 billion Islamic loan, two sources familiar with the matter said. * Italy’s M&G Chemicals aims to list a minority stake on the Hong Kong bourse this autumn to raise cash to fuel an overseas expansion, two sources close to the deal said on Wednesday. * Verizon Communications Inc has decided to put off the acquisition of two small Canadian wireless companies until after a government auction of wireless licenses in January, a Canadian newspaper said, citing people familiar with the matter. * Mubadala Development Co PJSC, the Abu Dhabi sovereign wealth fund, is looking for partners to buy some assets in Brazilian tycoon Eike Batista’s mining, energy and logistics conglomerate Grupo EBX, a source with direct knowledge of the situation said.

RPT-Market Chatter-Corporate finance press digest

News Wires (text) Frances economy has jumped out of recession , posting stronger-than-expected 0.5 percent quarter-on-quarter growth in April through June, its best result in two years, official data released Wednesday showed. Eurozone exits longest-ever recession Official figures confirm that the recession in the eurozone came to an end in the second quarter of the year. Eurostat, the European Unions statistics office, says the 17 European Union countries that use the eurozone saw their collective economic output grow by 0.3 percent in the April to June period from the previous quarter. That was moderately better than the 0.2 percent anticipated in the markets, largely because of solid economic growth of 0.7 percent in Germany and a surprisingly strong 0.5 percent bounce-back in France.

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