Latest news with #corporatefinance
Yahoo
4 hours ago
- Business
- Yahoo
AM Best Assigns Issue Credit Ratings to Chubb INA Holdings LLC's Senior Unsecured Bonds
OLDWICK, N.J., July 31, 2025--(BUSINESS WIRE)--AM Best has assigned Long-Term Issue Credit Ratings of "a+" (Excellent) to Chubb INA Holdings LLC (Chubb) (Delaware) recently announced CNY 4.5 billion (approximately USD 626 million) issuance of senior unsecured bonds in the Hong Kong market in three tranches, which are guaranteed by Chubb Limited: CNY 1 billion 2.5% senior unsecured bonds due 2030; CNY 1.5 billion 2.75% senior unsecured bonds due 2035; and CNY 2 billion 3.05% senior unsecured bonds due 2055. The outlook assigned to these Credit Ratings (rating) is stable. Chubb intends to use the net proceeds from these offerings for general corporate purposes, which may include the redemption, repurchase or repayment of outstanding indebtedness. Chubb Limited is the Swiss-incorporated holding company of the Chubb Group of Insurance Companies. At June 30, 2025, Chubb had total assets of USD 261.6 billion and shareholders' equity (excluding noncontrolling interests) of USD 69.4 billion. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Alan Murray Director +1 908 882 2195 Carlos Wong-Fupuy Senior Director +1 908 882 2438 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Wall Street Journal
a day ago
- Business
- Wall Street Journal
AI Finance App Ramp Is Valued at $22.5 Billion in Funding Round
Ramp, a startup that uses artificial intelligence to automate corporate finance tasks, on Wednesday said it had raised $500 million in its latest funding round. The Series E-2 round, led by Iconiq Growth with participation from existing investors including Founders Fund and D1 Capital Partners, values the startup at $22.5 billion, it said.
Bloomberg
4 days ago
- Business
- Bloomberg
Landing a $35 Billion Tech Deal in the Middle of Trade Turbulence
By Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. This week, I speak to Synopsys CFO Shelagh Glaser about how the software provider navigated the drawn-out approval process for its $35 billion acquisition of Ansys. I also connect with the finance chief of Colombia's biggest bank. But first, here's some other news that caught my eye:
Yahoo
5 days ago
- Business
- Yahoo
The 'Dean of Valuation' Says Most Companies Buying Bitcoin Are Making a Classic CEO Mistake—Here's His Brutal Reality Check
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. When Aswath Damodaran speaks, Wall Street listens. The NYU finance professor, known as the 'Dean of Valuation,' has just delivered a sobering reality check on the corporate Bitcoin trend that's been sweeping boardrooms since 2020. His verdict? Most companies chasing the Bitcoin bandwagon are making a costly mistake—but there are rare exceptions that could justify the gamble. The Great Corporate Cash Pile Problem U.S. companies are sitting on an unprecedented $2.4 trillion in cash, representing 9% of their total book value. Globally, that number balloons to $11.4 trillion. With interest rates fluctuating and inflation concerns persistent, corporate treasurers are under pressure to make this 'dead money' work harder. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Enter Bitcoin evangelists, led by MicroStrategy (NASDAQ:MSTR) Executive Chair Michael Saylor, who argue that companies should dump traditional cash for digital gold. Since adopting its Bitcoin strategy in 2020, MicroStrategy has seen its stock price explode—but Damodaran warns this success story masks deeper problems. 'MicroStrategy has essentially become a Bitcoin spa,' Damodaran explains, noting that the company's stock gains have been 'driven by Bitcoin, not its core software business,' which has actually seen declining revenues and operating income. Why Bitcoin Fails the Corporate Cash Test Damodaran identifies five critical reasons why Bitcoin doesn't work for most corporate balance sheets: It's a terrible shock absorber. Cash is supposed to protect companies during economic downturns. Bitcoin's volatility—often moving 10%-20% in a single day—makes it useless as a financial cushion during crises. It distracts from the core business story. When companies invest in Bitcoin, investors start questioning why that cash isn't being invested in growth projects or returned to shareholders. It fundamentally changes what the company is about. Trending: New to crypto? on Coinbase. Managers are poor traders. Corporate executives have a dismal track record of market timing, consistently buying high and selling low. The volatile Bitcoin market amplifies these mistakes exponentially. Shareholders want choice. Most investors would prefer companies pay dividends, allowing them to make their own Bitcoin investments rather than having management gamble with corporate funds. It opens the door to abuse. Allowing managers to trade volatile assets creates opportunities for financial scandals and lack of transparency. The Four Exceptions That Prove the Rule Despite his skepticism, Damodaran identifies four scenarios where corporate Bitcoin holdings might make sense: The Bitcoin Santon Exception: Companies led by recognized Bitcoin experts whom shareholders explicitly trust to trade effectively—essentially treating them like Warren Buffett at Berkshire Hathaway (NYSE:BRK, BRK.B)). Business Necessity: Companies like PayPal (NASDAQ:PYPL) or Coinbase (NASDAQ:COIN) that need Bitcoin for their core operations, with holdings proportionate to business needs. Currency Escape Artist: Companies in countries with failing currencies, like Argentina's MercadoLibre (NASDAQ:MELI), where Bitcoin provides more stability than local currency. Meme Company Strategy: Failed businesses that have become meme stocks – like AMC Entertainment (NYSE:AMC) or GameStop (NYSE:GME) – might embrace Bitcoin as part of their new identity as pure trading Institutional Adoption Paradox Perhaps most intriguingly, Damodaran warns that widespread institutional Bitcoin adoption could be a 'mixed blessing' for true believers. As traditional investors pile in, Bitcoin may start behaving more like stocks and bonds, losing its unique uncorrelated movement that made it attractive in the first place. 'As the establishment buys in, Bitcoin might lose what made it special,' he cautions, drawing parallels to how real estate became more correlated with stock markets in the 1980s as institutional investment grew. The Bottom Line For most companies, Bitcoin represents a dangerous distraction from their core mission. The rare exceptions require explicit shareholder approval, complete transparency, and clear accounting standards. As Damodaran puts it: this isn't about Bitcoin's future price—it's about whether companies should be gambling with shareholder money on volatile assets they don't understand. The corporate Bitcoin revolution may be happening, but investors should question whether their companies are equipped to join it. Read Next: Be part of the breakthrough that could replace plastic as we know it— Image: Shutterstock This article The 'Dean of Valuation' Says Most Companies Buying Bitcoin Are Making a Classic CEO Mistake—Here's His Brutal Reality Check originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
24-07-2025
- Business
- Reuters
Two Tata Group firms plan India bond issues, bankers say
MUMBAI, July 24 (Reuters) - Two firms of Indian conglomerate Tata Group are planning to raise around 20 billion rupees ($231.5 million) through the sale of bonds over the next few days, three bankers said this week. Tata Power Renewable Energy, a subsidiary of Tata Power ( opens new tab, is likely to raise around 10 billion rupees through the sale of 10-year bonds, while Tata Communications ( opens new tab could raise a similar amount through three-year notes, the bankers said. The bankers requested anonymity as they are not authorised to speak to media. The companies did not respond to a Reuters email seeking comment. "Mutual funds would be buying the Tata Communications issue in most cases, while insurers are expected to line up for the renewable energy company issue," one of the bankers said. Tata Communications would be tapping the corporate debt market after a gap of nearly two years and is in talks with foreign banks to manage the issue. Its notes are rated AAA by CARE Ratings. In August 2023, the company raised 17.50 billion rupees through three-year bonds at an annual coupon of 7.75%. The pricing for the planned issue should be around 100 basis points cheaper, two of three bankers said. Meanwhile, Tata Power Renewable would be tapping the market for the second time this financial year. It raised 10 billion rupees through 15-year bonds at a coupon of 7.55% in April. Tata Power Renewable's notes are rated AA+ by rating agencies. The firm has 53 billion rupees worth of bonds outstanding. ($1 = 86.3920 Indian rupees)
