United Drug's refinancing plan completed

A round-up of today's other stories in brief

A round-up of today's other stories in brief

United Drug's refinancing plan completed

Health services provider United Drug has completed a refinancing exercise on its debt facilities.

The group said it had combined a €135 million syndicated bank facility with a new $130 million (€102m) private placement note issue. The bank facility has a four-year term. There are four banks in the syndicate: Bank of Ireland, Ulster Bank, Danske Bank and HSBC.

READ MORE

The $130 million issue was issued in two tranches, with half of it maturing in seven years and the remaining $65 million maturing in 10 years. The group said it was “significantly oversubscribed”.

'Star' newspaper profits down 29%

Profits at the Irish Daily Starand Sunday Starnewspapers declined last year by 29 per cent to €4.85 million.

Revenues at Independent Star Ltd fell by 9 per cent in the 12 months to the end of December 25th last to €42.6 million.

The company paid a €3.4 million dividend to its joint owners: Independent News Media and Britain’s Northern Shell.

Sales of the Irish Daily Starfell by 6.5 per cent to an average 100,265 in 2009.

The Sunday paper had an average weekly sale of 53,000, down 4.5 per cent on 2008.

Goldman Sachs to face record fine

Goldman Sachs is facing a near-record fine from the UK’s financial regulator following a five-month investigation into the investment bank’s international business. The inquiry was initiated in the wake of fraud charges against the firm in the US.

The fine, which could be announced this morning, will deal a blow to Goldman's efforts to put the high-profile fraud case behind it following the bank's settlement of the US Securities and Exchange Commission inquiry in July for $550 million (€430 million). – The Financial Times