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(b GSA will use Governmentwide debt collection contracts to obtain debt collection services provided by private collection contractors.
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Trace cut the offer after it failed to obtain debt financing, citing deteriorating conditions in capital markets.
In April, a much-anticipated $2.5 billion plan to privatize Midway Airport in Chicago collapsed after a group of investors was unable to obtain debt financing.
The structure was a workaround to deal with a multitude of legal issues associated with the ability to close a tender offer as fast as normal and 3G's requirement to obtain debt financing for the deal.
Poland's Finance Minister, Leszek Balcerowicz, who has been here to attend the spring meetings of the I.M.F. and the World Bank, told reporters Tuesday that a failure to obtain debt relief would jeopardize Poland's program to privatize large sections of its economy, which is 80percentt state-owned.
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Waste Management's most recent offer, for $37 a share in cash, was dependent on the company's ability to raise financing — and obtaining debt has become more expensive.
Tsipras campaigned for a no vote, arguing that this was the best way to secure a better deal, keeping Greece in the euro while obtaining debt relief from its creditors.
But in a regulatory filing on Monday, the company cited "the difficulty of obtaining debt financing in the current retail environment" in the family's decision to suspend its plans.
In a regulatory filing on Monday, the company cited "the difficulty of obtaining debt financing in the current retail environment" in the family's decision to suspend its plans.
These findings validate the empirical predictions of Flannery's (1986) and Diamond's (1991) theoretical models: (1) firms with larger levels of information asymmetries and favorable private information are more likely to issue short-term debt because they can obtain this debt at a low interest rate and roll it over (Berger et al. 2005).
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