Syndicated loan

Special Purpose Vehicle Management Platform Launches to Simplify and Accelerate Investment Deals

Retrieved on: 
Tuesday, March 15, 2022
Irish Section 110 Special Purpose Vehicle (SPV), SPV, Treasury, Frustration, Risk, Special-purpose entity, Company, LinkedIn, McKinsey & Company, Financial services, Syndicated loan

MANCHESTER, N.H., March 15, 2022 /PRNewswire-PRWeb/ -- Syndicately, the Special Purpose Vehicle (SPV) management solution for family offices, venture capitalists, angel investors, and entrepreneurs, today unveils Syndicately.com , a tech-enabled platform that simplifies, secures, and accelerates investment deals.

Key Points: 
  • MANCHESTER, N.H., March 15, 2022 /PRNewswire-PRWeb/ -- Syndicately, the Special Purpose Vehicle (SPV) management solution for family offices, venture capitalists, angel investors, and entrepreneurs, today unveils Syndicately.com , a tech-enabled platform that simplifies, secures, and accelerates investment deals.
  • With this launch, Syndicately enters the private investment market to empower the next generation of investors with a seamless, transparent method of pooling and deploying capital.
  • "From onboarding to exit, Syndicately delivers a hassle-free method of setting up and managing investment deals that is easy to personalize and repeat."
  • "Syndicately is on a mission to make private investment deals more straightforward and efficient than ever before," added Ross Andrews, Company Co-Founder.

DGAP-News: CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities

Retrieved on: 
Friday, July 30, 2021
Finance, Money, Credit, Economy, Loans, Ceconomy, Syndicated loan, KfW, Revolving credit, Loan agreement

CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities

Key Points: 
  • CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities
    The issuer is solely responsible for the content of this announcement.
  • CECONOMY AG settles post-pandemic financing structure: Existing KfW syndicated loan agreement replaced by ESG-linked syndicated credit facilities
    Dsseldorf, 30 July 2021 - CECONOMY AG ("CECONOMY") has settled its post-pandemic financing structure with the termination of its syndicated revolving loan agreement with the participation of KfW and implementation of its new ESG-linked syndicated revolving credit facilities.
  • The 1.7 billion loan facility of the existing syndicated loan agreement with the participation of KfW was concluded in mid-May 2020 during the first wave of the COVID-19 pandemic and complemented CECONOMY's existing credit facilities of 980 million at that time.
  • Following the recent issuance of the 5-year senior unsecured bond, CECONOMY now concludes its post-pandemic financing structure with the implementation of the new ESG-linked syndicated revolving credit facilities.

R.E.A. Holdings plc: Statement re bank financing

Retrieved on: 
Thursday, June 24, 2021
Credit, Loans, Mortgage industry of the United States, Financial law, Syndicated loan

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • Completion of this agreement remains subject to satisfaction of a number of technical conditions and is expected to occur within a few weeks.
  • The working capital facility will be reduced from Rp 70 million ($4.9 million) to Rp 30 million ($2.1 million).
  • Security for the new loans and working capital facility will be similar to that for the existing loan and working capital facility (and will include a continuing guarantee from REA).

Altisource Signs Revolving Line of Credit Agreement

Retrieved on: 
Wednesday, June 23, 2021
Money, Finance, Economy, Credit, Personal finance, Debt, Revolving credit, Loans, Financial law, Syndicated loan

(Altisource) signed an agreement withSTS Mater Fund, Ltd. (the Lender), an investment fund managed by Deer Park Road Management Company, LP (Deer Park), on June22, 2021 providing Altisource with a revolving line of credit for general corporate purposes (the Credit Agreement).

Key Points: 
  • (Altisource) signed an agreement withSTS Mater Fund, Ltd. (the Lender), an investment fund managed by Deer Park Road Management Company, LP (Deer Park), on June22, 2021 providing Altisource with a revolving line of credit for general corporate purposes (the Credit Agreement).
  • The term of the Credit Agreement is three years.
  • Under the terms of the Credit Agreement, the Lender will make loans to Altisource from time to time, in amounts requested by Altisource and Altisource may voluntarily prepay all or any portion of the outstanding loans.
  • The Credit Agreement provides Altisource the ability to borrow up to $20 million through June 22, 2022, up to $15 million through June22, 2023, and up to $10 million until the end of the term.

ING Closes First of its Kind Green Incentive Loan for Energy Efficient Property Retrofits

Retrieved on: 
Monday, June 21, 2021
Finance, Money, Economy, Loans, Loan Syndications and Trading Association, Syndicated loan, Forest certification, Loan Market Association, ING Group, Sustainable forest management

The Green Incentive Loan is structured in line with the Green Loan Principles issued by the Loan Market Association ("LMA"), the Loan Syndications and Trading Association ("LSTA") and the Asia Pacific Loan Market Association ("APLMA").

Key Points: 
  • The Green Incentive Loan is structured in line with the Green Loan Principles issued by the Loan Market Association ("LMA"), the Loan Syndications and Trading Association ("LSTA") and the Asia Pacific Loan Market Association ("APLMA").
  • It is unique in that it contains financial incentives for LMC to pursue a green certification for the property.
  • ING developed this sustainable finance product to incentivize building owners to invest in green projects and help them to meet their own sustainability goals.
  • "ING hopes to offer the Green Incentive Loan to more of our clients in the US over the coming months," Bender said.

Douglas Dynamics Finalizes New Term Loan A and Revolving Credit Facilities

Retrieved on: 
Monday, June 14, 2021
Money, Finance, Credit, Economy, Revolving credit, Line of credit, Syndicated loan

The proceeds from the borrowings under the new Term Loan A facility and senior secured revolving credit facility will be used for general corporate purposes, including repaying the entirety of the borrowings under the companys prior $275 million Term Loan B facility due 2026 and its prior $100 million senior secured revolving credit facility.

Key Points: 
  • The proceeds from the borrowings under the new Term Loan A facility and senior secured revolving credit facility will be used for general corporate purposes, including repaying the entirety of the borrowings under the companys prior $275 million Term Loan B facility due 2026 and its prior $100 million senior secured revolving credit facility.
  • The new credit agreement provides for a Term Loan A facility in the amount of $225 million and a senior secured revolving credit facility in the amount of $100 million.
  • The company may also request increases to the revolving commitments and/or incremental term loans in an aggregate amount not in excess of $175 million.
  • The Term Loan A facility will bear interest at LIBOR plus a margin ranging from 1.375% to 2.00%, depending on the companys leverage ratio, as defined in the credit agreement.

The Very Good Food Company Inc. Closes C$70 Million Credit Facility With Waygar Capital and Ninepoint Partners

Retrieved on: 
Monday, June 7, 2021
Money, Finance, Economy, Credit, Loans, Personal finance, Debt, Line of credit, Revolving credit, Syndicated loan

The Credit Facility consists of a C$20 million revolving line of credit and a C$50 million term loan.

Key Points: 
  • The Credit Facility consists of a C$20 million revolving line of credit and a C$50 million term loan.
  • C$70 million Credit Facility comprises a C$20 million revolving line of credit and C$50 million senior secured asset backed term loan.
  • Strategic business partnership with a leading institutional lender, Waygar Capital, representing Ninepoint Partners, indicating strong confidence in VERY GOOD's management team, product portfolio and long-term strategy.
  • The Very Good Food Company Inc. is an emerging plant-based food technology company that produces plant-based meat and other food products that are delicious while maintaining a wholesome nutritional profile.

BRP Group, Inc. Announces Upsize and Successful Repricing of Senior Secured Term Loan Facility

Retrieved on: 
Friday, May 28, 2021
Money, Finance, Economy, Financial law, Loans, Banking, Credit, Syndicated loan, Libor

TAMPA, Fla., May 28, 2021 (GLOBE NEWSWIRE) -- BRP Group, Inc. (BRP Group or the Company) (NASDAQ: BRP) today announced that its subsidiary Baldwin Risk Partners, LLC (BRP LLC) priced a loan syndication for an upsized, new $500 million senior secured first lien term loan facility maturing in 2027 (the New Term Loan B), which represents a $100 million increase in the aggregate principal amount of its existing senior secured first lien term loan facility (the Existing Term Loan B).

Key Points: 
  • TAMPA, Fla., May 28, 2021 (GLOBE NEWSWIRE) -- BRP Group, Inc. (BRP Group or the Company) (NASDAQ: BRP) today announced that its subsidiary Baldwin Risk Partners, LLC (BRP LLC) priced a loan syndication for an upsized, new $500 million senior secured first lien term loan facility maturing in 2027 (the New Term Loan B), which represents a $100 million increase in the aggregate principal amount of its existing senior secured first lien term loan facility (the Existing Term Loan B).
  • The New Term Loan B will bear interest at LIBOR plus 350 basis points (bps), which is an improvement of 50 bps from BRP LLCs Existing Term Loan B, and is subject to a LIBOR floor of 50 bps (25 bps lower than the LIBOR floor for the Existing Term Loan B).
  • We believe the outcome reflects the strong performance of the business and our increased scale and capabilities since our initial Term Loan execution last October.
  • BRP LLC intends to use the net proceeds of the New Term Loan B to refinance BRP LLCs Existing Term Loan B and for general corporate purposes, including acquisitions and investments permitted under the New Term Loan B.
    BRP LLC expects the New Term Loan B to close on or about June 2, 2021, subject to customary closing conditions.

Turkiye Garanti Bankasi A.S.: Announcement regarding Syndicated Loan Agreement

Retrieved on: 
Wednesday, May 26, 2021
Money, Finance, Economy, Interest rates, United States housing bubble, Financial law, Swaps, Fixed-income securities, Syndicated loan, Euribor, Libor, Tranche

The issuer is solely responsible for the content of this announcement.

Key Points: 
  • The issuer is solely responsible for the content of this announcement.
  • On 25.05.2021 our Bank has signed a syndicated loan agreement with 367 days maturity in the amount of US $ 279.000.000 and 294.000.000 comprising of two separate tranches.
  • The loan which will be used for trade finance purposes has been executed with commitments received from 34 financial institutions from 18 countries.
  • The all-in cost for USD and EUR tranches have been realized as Libor + 2.50% and Euribor + 2.25% respectively.

30% of Mid-Market Lenders dropped rates to compete for borrowers in 1Q21

Retrieved on: 
Thursday, May 6, 2021
Money, Finance, Economy, Credit, Weemba, Syndicated loan

33% of commercial bank lenders saw an increase in loan inquiries from potential borrowers.

Key Points: 
  • 33% of commercial bank lenders saw an increase in loan inquiries from potential borrowers.
  • The majority of Commercial Banks (64%) reported that switching lenders was not a factor for their borrower demand increases.
  • One possible reason for this trend is the increase in commercial bank borrowers choosing to include non-bank lenders in their credit search processes.
  • Working with finance and technology experts, Cerebro has created a holistic corporate loan management solution designed to revolutionize the way borrowers, lenders, intermediaries, and stakeholders manage corporate debt.