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Washington Mutual demanda a la FDIC por 17 billones US$ + daños

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Washington Mutual demanda a la FDIC por 17 billones US$ + daños
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Washington Mutual demanda a la FDIC por 17 billones US$ + daños
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#25177

KKR está dentro !!!!! Wall Street Journal

http://online.wsj.com/article/PR-CO-20140131-909104.html

SEATTLE, Jan. 31, 2014 /PRNewswire/ -- WMI Holdings Corp. (OTC: WMIH) ("WMI" or the "Company") today announced that KKR Management Holdings L.P. and KKR Fund Holdings L.P., subsidiaries of KKR & Co. L.P. (together with its affiliates, "KKR"), have finalized a strategic investment in the Company.

Michael Willingham, Chairman of the Company said, "We believe the investment in our Company by KKR will enhance value for all shareholders of WMI Holdings. KKR has a history of investing across a wide range of asset classes and we look forward to working with the KKR team as we execute on our acquisition strategy."

Tagar Olson, Member and Head of KKR's Financial Services team stated, "We are pleased to finalize this investment and look forward to working with the Company as it continues to grow and diversify its platform. As a long-term aligned capital partner to the Company, we believe that KKR is well-positioned to help build shareholder value."

On January 30, 2014, KKR (i) purchased approximately $11 million face amount of convertible preferred stock of the Company convertible into shares of common stock of the Company for a conversion price of $1.10 per share, and (ii) committed to purchase up to $150 million aggregate principal amount of subordinated 7.5% PIK notes, which may be issued in one or more tranches over a three year period, each with a seven year term from the date of initial issuance (the "Subordinated Notes"), subject to certain terms and conditions. Substantially all of the proceeds from the Subordinated Notes, if and when issued, would be used by the Company to fund future acquisitions. In connection with the commitment, KKR has received five-year warrants to purchase approximately 61.4 million shares of the Company's common stock, 30.7 million of which has an exercise price of $1.32 per share and 30.7 million of which has an exercise price of $1.43 per share. KKR also has the right for three years to participate up to 50% in equity offerings up to an aggregate of $1 billion by the Company subject to certain limitations, including a cap on ownership by KKR of 42.5% of the Company's common equity.

Blackstone Advisory Partners L.P. acted as financial advisor to the Company in connection with the transaction. Akin Gump Strauss Hauer & Feld LLP and Lane Powell PC are counsel to the Company. Simpson Thacher & Bartlett LLP is counsel to KKR.

About WMI Holdings

WMI Holdings Corp., formerly Washington Mutual, Inc., consists primarily of WM Mortgage Reinsurance Company, Inc. ("WMMRC"), a wholly-owned subsidiary of the Company that is domiciled in Hawaii. The Company's primary business is a legacy reinsurance business that is currently operated in runoff mode by WMMRC.

About KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $90.2 billion in assets under management as of September 30, 2013. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with fund investors through its client relationships and capital markets platform. KKR & Co. L.P. is publicly traded on the New York Stock Exchange (NYSE: KKR) and "KKR", as used in this release, includes its subsidiaries, their managed investment funds and accounts, and/or their affiliated investment vehicles, as appropriate.

#25178

Re: KKR está dentro !!!!! Wall Street Journal

Félix Grande: ... caeré diciendo que la vida era buena, ... la adoro con cansancio, con horror, con amor....

#25179

Re: KKR está dentro !!!!! Wall Street Journal

Las noticias refuerzan nuestra creencia.
Los detractores brillan por su ausencia.
Ahora faltan 7 semanas para el momento de la verdad
Y para cuando espero la primera adquisición.

Buen Finde a todos... En esta vida lo último que se debe perder
es la confianza y la constancia.

#25180

Re: KKR entra en WMIH. Cerramos a $2.65 +6%

#25181

KKR y WMIH llevan trabajando casi 8 meses

http://archive.fast-edgar.com//20140131/AQ2ZNG2CZW2RKZZ2222A2ZXPMVPQZZ223S62/

8K: Podemos extraer mucha info super importante que solo nos puede reforzar todo lo que intuiamos. Cuando WMIH se tumbo hasta$0.59 se firmo un acuerdo de Confidencialidad el 29 de mayo de 2013 entre KKR y WMIH a raiz de eso el valor subio a $0.95.

6 Mayo 2013
WMIH: 0.59

29 Mayo 2013 : Firma acuerdo Confidencialidad
WMIH: 0.95

9 Diciembre 2013: Carta de Intenciones entrada KKR (Publica)
WMIH: 1.67

31 Enero: 2014: KKR entra en WMIH
WMIH: 2.65

En estos 8 meses han debido de estar trabajando de lo lindo para preparar la estrategia de adquisiciones que empezaran a llegar a partir del 19 de marzo 2014. En esa fecha los Warrants que KKR va a recibir no perjudicaran las limitaciones del 382 del IRS.

"The ability to exercise their warrants ONLY comes after WMIH receives financing via the PIKS Notes" o sea que hasta que no hayan puesto sobre la mesa $150 Millones no tendran sus Warrants.

Imaginaros lo que va a ocurrir tras el 19 de marzo cuando las adquisiciones empiecen a formar parte importante de nuestro valor y los NOL´s entren en acción.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

#25182

Re: Sobre sellado

Sympson tu crees que el sobre sellado que entrego Sussman a la corte incidia en lo siguiente
1.- La valoracion efectuada por Salomon
2.-La Oficina de Supervisión de Ahorros ha mantenido y la FDIC había firmado hasta la convulsión que el Banco Washington Mutual (subsidiaria de WMI) era solvente y bien capitalizado y que
no debería haber sido incautado.

#25183

Distintas Opciones de Retorno

PPtrueno: Hay 3 vertientes de opinion dentro del grupo de los minoristas.

1) Los que creen que el premio se recibirá via WMIH

2) Los que creen que se recibirá via Escrows aludiendo a que esto ocurrirá al finalizar los Claims via la Captive Cell de WMMRC

"Capital Stock of WMMRC the protected cell" as part of the assets included in the definitions of WMMRC- Related Asset of the definions in the recent. Please study and give opinions. Pg 32/47. Our patience will be rewarded IMO.

http://archive.fast-edgar.com//20140131/AQ2ZNG2CZW2RKZZ2222A2ZXPMVPQZZ223S62/

Why incorporated in Hawaii???

Check this...it is fairly interesting. Explains Protected Cells.
http://en.wikipedia.org/wiki/Cell_Captive

"Depending on the domicile of the core cell company its organizational structure may take on the characteristics of one or more of the following:"
This may answer my own question of WHY WMMRC is incorporated in Hawaii.

WMMRC is considered a "Captive ReInsurance Company".

3) Los que creen que se puede recibir $$$$$$$$ de 1 y 2.

Yo estoy seguro que el gran premio está en WMIH (salir intacto de una Bancarrota con unas acciones que se pueden apreciar sustancialmente en el momento que empiecen los M&A)

Si los Escrows son el "Tesoro oculto" lo desconozco... me encantaría que fuera así pero tambien puede ser una forma de distracción del personal. Para finales de 2014 saldremos de dudas.

Yo lo siento por los minoristas que invirtieron en WAHUQ (Besugo, Ptolomeo...) que tienen su inversión pillada sin posibilidades de acceder a ella hasta que WMILT no las libere tras las reclamaciones que se estan produciendo y a las que ya les han impuesto un CAP.

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