UPDATE 1-Chrysler's bankers may take on debt-WSJ

(Reuters) - Chrysler is being spun off by German parent DaimlerChrysler
in a $7.4 billion deal with Cerberus Capital
Management [CBS.UL].




Chrysler's bankers -- including J.P. Morgan Chase & Co.
, Goldman Sachs Group Inc. , Citigroup Inc.
, Bear Stearns Cos. and Morgan Stanley --
have spent the past month trying to convince investors to buy
$12 billion in loans for Chrysler's auto business and $8
billion in loans for its financial arm, according to the
report.


Read more at Reuters.com Mergers News

Coffeyville Refinery in Kansas on `Accelerated Pace' to Start After Flood

(Bloomberg) -- Coffeyville Resources LLC, a refinery
owned by a Goldman Sachs Group Inc. unit and the buyout firm
Kelso & Co., is on an ``accelerated pace'' to resume gasoline and
diesel production after a July 1 flood shut the plant.

No target date has been set for starting oil-processing
units at the plant, located 170 miles south of Kansas City,
Kansas, said Allen Rempe, senior crude-oil buyer for Sugar Land,
Texas-based Coffeyville.


Read more at Bloomberg Energy News

Rosneft Cancels Sale of Dollar-Denominated Bonds, Bankers Organizing Say

(Bloomberg) -- OAO Rosneft, Russia's biggest oil
producer, canceled its plan to sell dollar-denominated bonds,
according to bankers organizing the offering who asked not to be
identified because the decision hasn't been publicly disclosed.

Moscow-based Rosneft had hired ABN Amro Holding NV,
Barclays Capital, Citigroup Inc. and Morgan Stanley to arrange
the sale, according to an e-mailed statement sent by Morgan
Stanley on July 4. BNP Paribas SA, Calyon, JPMorgan Chase & Co.
and Goldman Sachs Group Inc. were also organizing the sale.


Read more at Bloomberg Bonds News

BNP Paribas leads French M&A league table -survey

(Reuters) - In second place was U.S. investment bank Morgan Stanley
which advised on deals worth 45.7 billion euros while
Goldman Sachs took third place.




So far this year, BNP Paribas has advised French reinsurer
Scor on its takeover of Swiss rival Converium
and also advised French insurer AGF over its buyout by
parent company Allianz .


Read more at Reuters.com Mergers News

FACTBOX-Asian investment banking fees hit H1 record

(Reuters) - The following is a ranking of the top 5 Asia Pacific
investment banks by revenue in the first half, according to
Dealogic, and a breakdown of revenue by type of deals.




H1
2006
BANK NET REVENUE PCT MKT SHR RANK
UBS $390 million 12.7 2
JPMorgan $196 million 6.4 3
Morgan Stanley $187 million 6.1 6
Goldman Sachs $171 million 5.6 1
Citigroup $167 million 5.4 5
NET REVENUE DEAL TYPE


Read more at Reuters.com Mergers News

US stock indexes climb on lower bond yields

(Reuters) - U.S. stocks rose on Monday as data on existing-home sales were in line with analysts' forecasts, allowing investors to focus on the recent pull-back in bond yields and the Federal Reserve's policy-setting meeting this week.

General Motors Corp. gave a boost to the Dow after Goldman Sachs lifted its rating on shares of the largest U.S. automaker.


Read more at Reuters Africa

Goldman Sachs profit rises, beating estimates

(Reuters) - By Joseph A. Giannone



NEW YORK, June 14 - Goldman Sachs Group Inc. eked out a 1 percent increase in quarterly profit on Thursday to beat expectations, yet revenue slipped as a sharp drop in fixed income trading offset record investment banking fees and strong equities income.


Read more at Reuters.com Market News

Colombia Peso Rally Will Turn Into Rout, Merrill, Citigroup, Goldman Say

(Bloomberg) -- Wall Street's biggest banks are
certain the Colombian peso, the world's hottest currency, will
tumble for the rest of 2007 and may even erase this year's 16
percent gain.

Merrill Lynch & Co., based in New York, says the peso will
be the worst performer in the foreign-exchange markets, losing
all of its advance against the dollar. Frankfurt-based Deutsche
Bank AG sees a 10.5 percent decline by mid-November, while
Citigroup Inc. in New York expects a 8.9 percent drop by year-
end and Goldman Sachs Group Inc., 6.3 percent.


Read more at Bloomberg Currencies News

U.S. Stock-Index Futures Drop on Rising Treasuries Yields; Citigroup Falls

(Bloomberg) -- U.S. stock-index futures slid after
yields on U.S. Treasuries reached their highest since May 2002,
indicating investors are raising bets interest rates will
increase.

Citigroup Inc., the biggest U.S. bank, and Goldman Sachs
Group Inc., the world's largest securities firm by market value,
led declines in Europe.


Read more at Bloomberg Stocks News

Starent Networks closes up nearly 17 percent in debut

(Reuters) - The offering of 10.5 million shares was set at $12 per share on Tuesday, versus the forecast range of $9 to $11 a piece.




Starent sells products that allow mobile operators to deliver advanced multimedia services to subscribers. The IPO underwriters were led by Goldman Sachs and Lehman Brothers.


Read more at Reuters.com Hot Stocks News

UBS Hedge Fund Loss Ensnares Wuffli With Mess Reprising Long-Term Capital

(Bloomberg) -- UBS AG Chief Executive Officer Peter
Wuffli spared no expense when he agreed two years ago to let
John Costas, the top-ranking American at Switzerland's largest
bank, start an internal hedge fund.

Wuffli gave Costas $3.5 billion, 80 top traders and 40
support staff for the Dillon Read Capital Management LLC
venture. Costas hired another 130 people and leased space in
London, Singapore, Tokyo, Connecticut and Manhattan, where his
corner office on the 22nd floor has a view of St. Patrick's
Cathedral. By the time he was done, Dillon Read's 250 employees
received bonuses averaging $1 million a year, or almost three
times the comparable payout at Goldman Sachs Group Inc.


Read more at Bloomberg Exclusive News

Looming Crash Prompts Most Hires for Distressed-Debt Traders Since 2002

(Bloomberg) -- The biggest winners from the global
buyout boom are hiring distressed-debt bankers in Europe at the
fastest pace in five years.

Goldman Sachs Group Inc., the world's most profitable
securities firm, hired Andrew Wilkinson, the lawyer who advised
creditors in the bankruptcies of Eurotunnel Plc and Parmalat
Finanziaria SpA, to help lead its restructuring business in
London. Morgan Stanley, the third most-active merger adviser
this year behind Citigroup Inc. and Goldman, added seven bankers
in the past year, boosting its group to 61. Blackstone Group LP,
poised to become the world's largest publicly traded buyout
firm, is starting a corporate restructuring group in Europe.


Read more at Bloomberg Bonds News

IndyMac Bancorp offers $500 mln in preferred stock

(Reuters) - Moody's Investors Service rated the debt "Ba1," its highest
"junk" grade and two notches below IndyMac's "Baa2" senior
unsecured rating, an investment grade. Perpetual preferred
stock has no maturity date.




Goldman Sachs & Co. and Morgan Stanley arranged the
offering, with assistance from Citigroup Global Markets Inc.,
Deutsche Bank Securities Inc., Lehman Brothers Inc. and RBC
Dain Rauscher Inc., IndyMac said.


Read more at Reuters.com Bonds News

Blackstone seen paying up on CMBS deal

(Reuters) - Blackstone-EOP's sale, backed by Equity Office Property, is currently being marketed to investors by underwriters Goldman Sachs, Banc of America and Bear Stearns ahead of its pricing in June, market sources said.




The offering would be the second largest deal in the CMBS market this year, after Wachovia Securities' $7.9 billion sale in March.


Read more at Reuters.com Business News

India Rupee to Fall From Nine-Year High, Deutsche, Goldman Sachs Forecast

(Bloomberg) -- The Indian rupee may decline from a
nine-year high because the nation's central bank will sell the
currency to protect exports, according to Deutsche Bank AG and
Goldman Sachs Group Inc.

Options are also signaling the two-month rally is poised to
stall. In November, the last time the premium on calls granting
the right to buy rupees was as big as it reached this week,
India's currency lost 1 percent within two weeks, posting its
biggest weekly drop since July.


Read more at Bloomberg Currencies News

Hologic, Luna, NetBank, Pegasystems, The9, Altria, EGL: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 11:40 a.m. New York time.

Alltel Corp. (AT US) rose $4.69, or 7.2 percent, to $69.90
and traded as high as $70.45. Goldman Sachs Group Inc. and TPG
Inc. agreed to buy Alltel for about $24.7 billion in the largest
leveraged buyout of a telecommunications company. Investors will
get $71.50 a share, the mobile-phone company said in a statement.
The offer is 9.6 percent more than Alltel's last closing price.
Including debt, the bid values Alltel at $27.5 billion.


Read more at Bloomberg Stocks News

S&P 500 Futures Erase Gains as Oil Rises; Alltel Climbs on Buyout Offer

(Bloomberg) -- Standard & Poor's 500 Index futures
erased a gain after the price of oil rose, offsetting the
largest leveraged buyout of a telecommunications company.

Alltel Corp., the fifth-biggest U.S. wireless company,
climbed after a $24.7 billion offer from Goldman Sachs Group
Inc. and TPG Inc. Lowe's Cos. fell after the second-largest
home-improvement retailer reported profit that trailed analyst
estimates.


Read more at Bloomberg Stocks News