latest news releases from the newsroom
Weil, Gotshal & Manges LLP
Weil, Gotshal & Manges Names Michael J. Lyle New Managing Partner for Washington, D.C. Office
WASHINGTON, Aug. 14, 2008 (PRIME NEWSWIRE) -- International law firm Weil, Gotshal & Manges LLP announced today the appointment of Michael J. Lyle as Managing Partner of its Washington, D.C. office. Lyle, who assumes the Managing Partner title on October 1, 2008, will continue to co-head the firm's Products Liability and Mass Tort litigation practice. He is replacing David R. Berz, a nationally recognized authority on U.S. and international environmental law, who is returning to full-time duty as head of the firm's Environmental practice. David also will be devoting more time to his pro bono work and an expanding role as head of the firm's Green Initiative.
Carolina Bank Holdings, Inc.
Carolina Bank Holdings, Inc. Announces Closing On Over $8,000,000 of New Capital for Carolina Bank
GREENSBORO, N.C., Aug. 14, 2008 (PRIME NEWSWIRE) -- Carolina Bank Holdings, Inc. (Nasdaq:CLBH), the holding company for Carolina Bank (the "Bank") announced today that the Bank has completed a private placement of $8.3 million of subordinated unsecured notes to qualified institutional buyers. The notes have a floating interest rate, which will be based on 3-month LIBOR plus 4.00%, which will be reset quarterly on the 15th of March, June, September and December of each year, beginning on September 15, 2008. The initial rate of interest is 6.80375%. The notes will mature on September 30, 2018, however, Carolina Bank may redeem some or all of the notes at any time on or after September 30, 2013 at a price equal to 100% of the principal amount of the redeemed notes, plus accrued but unpaid interest to the redemption date.
Sino Bioenergy Corp.
Sino Fibre Signs Term Sheet to Accept Investment From Singapore BarterXchange
HONG KONG and NEW YORK, Aug. 14, 2008 (PRIME NEWSWIRE) -- Sino Fibre Communications, Inc. (OTCBB:SFBE), a broadband and value added Internet services provider in China, announced that it has executed a "term sheet" to accept the investment from BarterXchange (S) Pte Ltd. ("Singapore BarterXchange") for a 15% stake in Sino Fibre's joint venture ("JV"), China Business Online Company Limited, to Singapore BarterXchange for US$6 million.