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Bain Capital takes $450 million bridge loan to fund Axis deal

Bain Capital takes $450 million bridge loan to fund Axis deal

Finance
MUMBAI: Bain Capital has taken a $ 450 million bridge loan from JPMorgan Chase to finance its multi-billion bet on third-largest lender, Axis Bank, as the Boston, Massachusetts-headquartered alternative asset manager moves towards the last leg of concluding the largest private equity deal here. Bain Capital, which will be making the investments out of its $ 8-billion Bain Capital Fund XII and its $ 3 billion third Asia fund, has secured the debt facility with limited partner commitments as collateral, multiple sources close to the process told ET. The debt facility will be for up to 18 months and are also additionally secured with Axis Bank shares with guarantees from the US private equity giant, sources said. When contacted, both Bain and JP Morgan declined to comment. Last mont...
Non-life insurers' gross premium up 9 per cent at Rs 10,012 crore in November

Non-life insurers' gross premium up 9 per cent at Rs 10,012 crore in November

Finance
Non-life insurance companies' gross premium increased by 9 per cent to Rs 10,012.41 crore in November, according to data from Irdai. They had collected gross premium of Rs 9,179.84 crore during the same month of 2016-17. There are a total of 30 non-life insurance companies in the country, of which six are standalone health insurers, two are specialised and the rest general insurance firms. The 22 general insurance companies collected total premium of Rs 9,188.58 crore in November, up 8.5 per cent from a year ago. The gross premium of standalone health insurance companies jumped nearly 46 per cent from a year ago to Rs 610.34 crore in November 2017-18. However, premium of the specialised insurers -- AIC and ECGC -- fell 27 per cent to Rs 213.49 crore, showed the data from the ...
The biggest risk you face when choosing between a human and a robo-advisor

The biggest risk you face when choosing between a human and a robo-advisor

Finance
The choice you make for how you want to receive professional financial advice can make or break your portfolio.Investors today have four main choices for how they want to receive financial advice, Ron Carson, founder and CEO of the Carson Group, said in an interview with CNBC.com.You can either go the traditional route and work with a human financial advisor or opt to work exclusively with a robo-advisor. Or you can select a bionic offering, which is a combination of both, or choose to work with a financial advisor on a retainer-fee basis.More from Investor Toolkit:Advisors turn to life coaches and counselorsRetirees leave $ 100B in Social Security benefits on tableHow much those advisor fees are costing youThe decision you make should be based on your personal goals, needs and objectives,...
3 Dividend Stocks With Better Yields Than Johnson & Johnson

3 Dividend Stocks With Better Yields Than Johnson & Johnson

Finance
Shares of medical products veteran Johnson & Johnson (NYSE: JNJ) come with a household name, decades of proven success, and a 2.4% dividend yield. The stock is popular among income investors, and for good reason. But there are many alternatives on the market with even richer yields and equally unassailable business models.We asked a few of your fellow investors here at The Motley Fool to share dividend ideas that could offer better yields than Johnson & Johnson for the long haul. Read on to see why our panelists would prefer to put Archer Daniels Midland (NYSE: ADM) , Procter & Gamble (NYSE: PG) , or ExxonMobil (NYSE: XOM) in their dividend portfolios right now.With income stocks like these, it's easy to relax. Image source: Getty Imag...
For many, the rent is still too damn high

For many, the rent is still too damn high

Finance
Detroit makes housing affordable with tiny homesMillions of Americans can't afford their rent. Nearly half of all renter households -- almost 21 million -- were considered cost-burdened in 2016, according to a new report from Harvard's Joint Center for Housing Studies. That means they pay more than 30% of their income to cover their housing, which includes utilities. Some renters are in an even tighter jam: 25% of renter households pay more than half of their income for housing. The good news is that the number off cost-burdened rentersisdropping. In 2014, 21.3 million renters were shelling out more than 30% for housing. Losing such a big chunk of your paycheck to housing can have a long-term impact on savings and force tough spending decisions. It can also worsen inequality among rente...