holy credit crunch batman, page-2

"Australian shares extended losses to more than 2 percent today, following a report that KKR Financial Holdings, the listed affiliate of the private equity group, had delayed repayment of billions of dollars of commercial paper for the second time.

Selling intensified across Asian markets after The Financial Times reported that KKR, the listed affiliate of private equity group Kohlberg Kravis Roberts & Co, had begun a new round of talks with creditors and deferred repayment of debt due last Friday. Japanese stocks fell 3 percent after the news was released."

KKR paid $29 bill USD for First Data, which owns Cashcard. I had also heard a rumour earlier this month that Cashcard maybe for sale.
I note that its the KKR leveraged finance arm that's in trouble and not the parent company. Nnevertheless, if cash is what they need to shore up the finances, then Cashcard could be an option for sale...