DPW Holdings eliminates all secured debt totaling approximately $ 5 million
Company positioned to attract more traditional financing to finance the order book, new orders and initiatives NEWPORT BEACH, Calif., October 26, 2020 (GLOBE NEWSWIRE) – DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW, “or the”Society“) announced that the Company has since February 2020 converted all of its secured debt, totaling just under …
Agreement aims to strengthen mobile money security
Dar es Salaam. A Global company RegTech (which deals with managing regulatory processes within the financial sector through technology) has established its mobile money compliance platform in Tanzania as part of a deliberate effort to further strengthen the security of the country’s mobile money transactions. Global Voice Group (GVG) has set up its M3 platform …
Ertugrul series, propaganda, money – security agencies report Turkey’s growing influence in Kashmir
A file photo of Turkish President Recep Tayyip Erdogan. | Photo: Jeenah Moon / Bloomberg Text size: A- A + Srinagar: Security forces and agencies have signaled Turkey’s growing influence in Kashmir and are closely monitoring money coming from the West Asian country which has become more focused on the region, ThePrint has learned. Sources …
Moody’s downgrades IIFL Finance’s secured debt rating and changes outlook to stable
Moody’s downgraded the corporate family (CFR) rating of IIFL Finance Ltd and guaranteed debt from “B1†to “B2†due to the prospect of deteriorating asset quality and profitability due to ‘an increase in payment defaults and payment defaults. The rating outlook has changed from the rating under review to stable. Today’s rating action concludes the …
ViableX Boosts Agribusiness With Online Platform Where Farmers Get Instant Loan And Sell Products
Farm4me, an agribusiness company, recently boosted farming activity with the launch of its revolutionary online platform that allows farmers to sell farm produce and get loans. The website www.viablex.com also offers commercial farmers the opportunity to buy produce and store it online until the prices are high and they can trade and make a profit. …
Valens enters into $ 40 million secured debt facility with CIBC and ATB – New Cannabis Ventures
Valens Company Closes $ 40 Million Credit Facility KELOWNA, BC, June 1, 2020 / PRNewswire / –Valens GroWorks Corp. (TSX: VLNS) (OTCQX: VLNCF) (the “Company†or “The Valens Companyâ€), a global leader in the end-to-end development and manufacture of innovative cannabinoid products, today announced it has concluded a syndicated credit facility (the “Credit Facilityâ€) with …
The default of certain NBFCs on guaranteed debt pushes SEBI to opt for reforms
A series of failures by some NBFCs has forced capital market regulator SEBI to come up with a new set of measures to secure the interests of bondholders and boost their confidence in the regulatory mechanism to verify any wrongdoing. In a new consultation paper, the Securities and Exchange Board of India has offered a …
Sallie Mae Student Loan Sale Makes Accounting Overhaul
Student loan giant SLM Corp., known as Sallie Mae, warned investors last year that the new accounting rules for bad loans would skew its balance sheet so much that it would have to resort to unofficial action to pass his financial health. The company reversed course on Thursday, saying it would introduce official accounting measures, …
Phillips Edison & Company Secures $ 200 Million 10 Year Secured Credit Facility
CINCINNATI – (COMMERCIAL THREAD) – Phillips Edison & Company, Inc. (PECO or the Company), an internally managed real estate investment trust (REIT) and one of the world’s largest owners and operators of grocery store anchored malls, announced today hui having secured a 10-year, $ 200 million secured debt facility through Hartford Investment Management Company (HIMCO). …
Castor announces senior secured debt of $ 11.0 million
LIMASSOL, Cyprus, November 25, 2019 (GLOBE NEWSWIRE) – Castor Maritime Inc. (NASDAQ: CTRM), (“Castor†or the “Companyâ€), a global shipping company specializing in the ownership of dry bulk vessels, today ‘ hui announced the closing, through two of its shipowner subsidiaries, of an $ 11.0 million guaranteed term loan facility with Alpha Bank SA (“the …
Uniform Commercial Code Protections Affecting Vendor Claims: Purchase Price Collateral and Claims | Foley & Lardner srl
Dealing with a client in financial difficulty requires both vigilance and creativity. Vigilance is essential, as close monitoring of a customer’s payment history and overall financial position will indicate whether a supplier needs to take additional steps to protect themselves. Creativity comes into play in deciding what kinds of protections are possible and appropriate in …
Loan sales help NBFCs and HFCs increase Rs 2.4 lakh crore in one year: Icra
As a result, the share of mortgages in total volumes was also reduced to 30% of total volumes in S1FY20, compared to around 45-50% of total volumes in FY18 and FY19. Sales of loan pools have become the main source of funds for non-bank lenders. Since the IL&FS crisis in September 2018, non-bank finance companies …
Integrated CBD Raises $ 50 Million in Senior Secured Debt and Series A Equity
SCOTTSDALE, Arizona., October 9, 2019 / PRNewswire / – Integrated CBD, an institutional and quality supply chain leader for organic hemp-derived CBD, today announced the closing of $ 50 million in senior secured debt and a Series A funding round in a combination of debt and equity financing. Senior debt is managed by a new …
VIVUS begins repayment of guaranteed debt and announces
-The reduction of $ 48.6 million in secured debt will result in total interest savings of $ 10.5 million–Organizational change streamlines business operations- CAMPBELL, Calif., Oct. 03, 2019 (GLOBE NEWSWIRE) – VIVUS, Inc. (Nasdaq: VVUS) (the “Company”), a biopharmaceutical company, today announced that it has repaid $ 48.6 million in its notes Senior collateral maturing …
Ginnie Mae looks at secured debt ratios of mortgage-backed securities issuers
Ginnie Mae will take a closer look at issuers of mortgage-backed securities with higher ratios of secured debt to gross tangible assets. Single-family issuers with a ratio greater than 60% “may, at Ginnie Mae’s sole discretion, be subject to additional financial and operational requirements before receiving approvals for various transactions,” according to the government agency. …
iAnthus Raises $ 50 Million Through Secured Debt
This morning, iAnthus (CSE: IAN) announced that it is negotiating a definitive agreement for a senior secured term loan of up to US $ 50 million with Torian Capital Partners. The term loan is expected to be made available in two tranches of US $ 25 million, each with substantially similar terms. The press release …
Files Stearns Ch. 11 To reduce $183 million in secured debt
By Ryan Boysen (July 9, 2019, 4:45 p.m. EDT) — Stearns Holdings LLC filed Chapter 11 in New York bankruptcy court on Tuesday, with a plan that calls on majority owner Blackstone to inject $60 million in cash into the residential mortgage lender so it can pay off some of its $183 million secured debt. …
How much money security guards are paid in South Africa – and why the government is watching them
The Ministry of Employment and Labor will organize a seminar on the private security sector next week (June 26), as it has identified the sector as “high risk” with regard to compliance with labor laws. . The department noted that the industry has experienced “unprecedented growth” in recent years due to high levels of crime. …
Canopy Growth Considers REIT, Secured Debt to Fund Global Expansion
Breadcrumb Links Cannabis business Cannabis Canopy is focused on research and development, global expansion and profitability of its Canadian business, says new CFO Author of the article: Bloomberg News Esteban Duarte and Kristine Owram Canopy Growth workers at company operations in Aldergrove, BC Photo by Mark Yuen/Postmedia Content of the article Canopy Growth Corp. is …
Social security asset reserves will be gone by 2035: here’s what that means for you
Social security is in big trouble at 16. That’s the rough message of the 2019 Social Security Board of Directors report, which came out months before its regular release. Social Security, which currently pays benefits to 63 million Americans and is responsible for at least half of the monthly income of more than 3 in …
Petro-Victory Energy Corp. Announces $ 10,000,000 Senior Secured Debt Financing and Company Update
/ NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION IN UNITED STATES. ANY NON-COMPLIANCE WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF US SECURITIES LAWS. / CALGARY, August 30, 2018 / CNW / – Petro-Victory Energy (TSX-V: VRY), (“Petro-Victory” or the “Company”), is pleased to provide the following updates. Funding The Company finalized …
Abraaj expects secured debt deal, Kuwaiti creditor resists
DUBAI: Private equity firm Abraaj said on Monday it hoped to reach an agreement with its secured creditors, although sources said a Kuwaiti unsecured creditor was resisting, which could block the sale of its investment management. Dubai-based Abraaj Holdings is trying to sell Abraaj Investment Management to New York-based Cerberus Capital Management as it tries …
IW Capital launches the first secured debt fund
Alternative loans The company is expanding its SME loan proposition with the new portfolio. IW Capital, an investment firm specializing in debt, stocks and EIS, has launched its first secured debt fund raising £ 4.5million. The fund will be the first in a series of diversified investment vehicles that IW Capital plans to launch in …
NanoMech, Inc. closes $ 7 million senior secured, non-convertible debt financing
SPRINGDALE, Arch .– (COMMERCIAL THREAD) – NanoMech, Inc., a specialty materials company with patented technology in nano-engineered lubricants, chemicals, coatings and finishes, today announced completion of funding $ 7 million non-convertible senior secured debt and equity with Michaelson Capital Special Finance Fund II, LP “We continue to strengthen our balance sheet to position NanoMech for …
INAP successfully completes refinancing of $300 million of senior secured debt
ATLANTE, April 6, 2017 /PRNewswire/ — Internap Corporation (NASDAQ: INAP), (“INAP” or the “Company”), a provider of high-performance Internet infrastructure comprising colocation, cloud and network services, today announced that he closed the $325 million into new credit facilities to complete the refinancing of its senior secured debt in an oversubscribed transaction. The new facility provides …
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Definition of guaranteed interest on the purchase price (PMSI)
What is Purchase Price Guarantee Interest (PMSI)? The term purchase guarantee (PMSI) refers to a legal claim that allows a lender to either repossess property financed with their loan, or to demand repayment in cash if the borrower defaults. It gives priority to the lender over claims made by other creditors. In simpler terms, a …
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Definition of secured debt
What is secured debt? Secured debt is backed by debt or secured by collateral to reduce the risk associated with the loan. If the borrower on a loan defaults, the bank seizes the collateral, sells it, and uses the proceeds to pay off the debt. Assets backed by a debt or debt instrument are considered …
Senior Secured Debt Can Be Profitable For Investors Invest
It was 2009 and General Motors Co. (ticker: GM) had just declared bankruptcy. Financial carnage ensued. GM shares fell to zero. The people who owned it lost everything. Those who invested in regular GM bonds tried to collect something and pocketed a few cents – about 20 cents on the dollar. Even when the company …
Opinion: US Carrier Force is a profitable national security asset
A sailor watches the flight deck of the Nimitz-class aircraft carrier USS Carl Vinson (CVN-70). US Navy Photo “What kind of navy do the Americans want? Columnist George F. Will asked in a Washington post remark. “The answer will determine whether the American power can, in [Chief of Naval Operations Adm. Jonathan] Greenert’s formulation, “be …
Air Lease Corporation (NYSE: AL) – Air Lease Corporation improves terms of $ 170 million secured debt
Following Air Lease Corporation’s (NYSE: AL) quality ratings and strengthened credit profile, the company today announced that one of its banks has agreed to review and improve terms by approximately 170 million dollars of secured debt related to the financing of six ALC aircraft. Under the agreement, the bank pledged to reduce the interest rate, …
Today’s Student Loan Runoff is just the tip of the iceberg | The independent
Today the government sold student loans worth £ 900million to a private debt collector for the bargain price of £ 160million, in a deal that includes all student loans taken out before 1998. But this outrageous move is likely to be right around one of the “Great Student Loan Giveawaysâ€. In today’s story, the government …
Banks’ infrastructure loan sales attract Danish pension fund
Birmingham’s new hospital built on a PFI scheme – loans to government-backed infrastructure projects such as this make up the debt purchased by the Danish pension fund Institutional investors are starting to turn to infrastructure loans, which banks are expected to start selling, along with other assets, to meet the capital requirements of future Basel …
Online Resources Modify and Extend Senior Secured Debt
CHANTILLY, Virginia – (COMMERCIAL THREAD) – Online Resources Corporation (NASDAQ: ORCC), a leading provider of online financial services, today announced that effective September 29, 2011, it has amended and extended its premier secured credit facilities. rank until February 21, 2013. The Company has requested this extension. to support the continued execution of its strategic growth …
MHI Hospitality Corporation closes $ 7.5 million (5.25%) secured debt financing
WILLIAMSBURG, Virginia – (BUSINESS WIRE) – MHI Host Company (NASDAQ: MDH) (the “Company”) announced today that it has successfully executed a new secured loan of $ 7.5 million from the Bank of Georgetown, secured by a first mortgage on the Holiday Inn Laurel hotel. West in Laurel, Maryland. The loan has a ten-year term, with …
El Dorado Communications: Applying technological responses to security, to the challenges of asset management
A local wireless communications security service provider seeks to partner with public and private sector agencies to help improve the ability to protect assets and respond in a timely manner to potential security compromises that threaten assets. value by infusing an enhanced level of wireless technology into asset protection measures. Member of the Board of …