Syndicated loan

OFS Credit Company Announces Third Quarter 2019 Net Asset Value and Selected Financial Results

Retrieved on: 
Friday, September 13, 2019
Banking, Professional services, Finance, Economy, Finance, Money, Corporate taxation, Financial law, National accounts, Funds, Investment, NET, Depreciation, Debits and credits, Syndicated loan

OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) debt and subordinated securities, today announced its net asset value and selected financial results for the fiscal quarter ended July 31, 2019.

Key Points: 
  • OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) debt and subordinated securities, today announced its net asset value and selected financial results for the fiscal quarter ended July 31, 2019.
  • Net investment income ("NII") of $1.15 million, or $0.46 per common share for the fiscal quarter ended July 31, 2019.
  • Net asset value of $17.44 per common share as of July 31, 2019, a decrease from $18.95 as of April 30, 2019.
  • Our net asset value declined from the prior quarter due to unrealized depreciation of the portfolio, resulting from declines in the broadly syndicated loan market.

CytoSorbents Announces Amendment to Loan Agreement with Bridge Bank, Receives an Additional $5 Million Cash from New Term Loan

Retrieved on: 
Monday, August 5, 2019
Economy, Money, Finance, Loans, Term loan, Syndicated loan, Bridge loan

On July 31, 2019 (the Settlement Date"), the Company entered into the First Amendment to the 2018 Amended and Restated Loan and Security Agreement with Bridge Bank.

Key Points: 
  • On July 31, 2019 (the Settlement Date"), the Company entered into the First Amendment to the 2018 Amended and Restated Loan and Security Agreement with Bridge Bank.
  • This amendment provided the Company with $5 million of cash proceeds from an additional term loan (Term Loan B) and extended the interest-only period for the original $10 million loan (Term Loan A) and Term Loan B through April 2020, with the ability to further extend the interest-only period through October 2020, provided that certain conditions are met.
  • "We are pleased to expand our excellent relationship with Bridge Bank, a premier lending institution with a broad scope of financial services."
  • "We are pleased to contribute to the success and evolution of the Company with attractive growth capital and flexible payment terms."

Rubicon Organics to Hold Annual General and Special Meeting; Secures Loan and Grants Stock Options

Retrieved on: 
Sunday, July 14, 2019
Money, Economy, Finance, Loans, Corporate finance, Options, Warrant, Credit, Syndicated loan, Payday loans in the United States

The Company has entered into a term loan agreement (the "Loan") pursuant to which it has borrowed $500,010 from certain lenders (the "Lenders").

Key Points: 
  • The Company has entered into a term loan agreement (the "Loan") pursuant to which it has borrowed $500,010 from certain lenders (the "Lenders").
  • The Loan is for a term of 24 months and bears interest at a rate of 12% per annum.
  • In connection with the Loan, the Company issued the Lenders a total of 100,002 common share purchase warrants ("Warrants").
  • The stock options are exercisable at $3.25 per share for a period of five years from the date of grant.

JinkoSolar Announces Upsized JPY6.7 Billion Syndicated Loan Agreement with Japanese Bank Consortium Led by SMBC

Retrieved on: 
Tuesday, July 2, 2019
Economic history of Japan, Finance, Companies, Sumitomo Mitsui Financial Group, Keiretsu, Zaibatsu, Sumitomo Group, Sumitomo Mitsui Banking Corporation, Mitsui, SMBC, Syndicated loan

("JinkoSolar Japan"), a subsidiary of the Company, has upsized a two-year JPY5.3 billion syndicated loan signed in June 2018 to JPY6.7 billion during its annual review in June 2019.

Key Points: 
  • ("JinkoSolar Japan"), a subsidiary of the Company, has upsized a two-year JPY5.3 billion syndicated loan signed in June 2018 to JPY6.7 billion during its annual review in June 2019.
  • The upsized syndicated loan agreement was signed with a bank consortium led by Sumitomo Mitsui Banking Corporation ("SMBC").
  • The financing will be used to expand JinkoSolar Japan's business and to supplement working capital.
  • "Upsizing our syndicated loan agreement is a vote of confidence by the bank consortium in our future business prospects and long-term growth trajectory, as well as the recognition of Jinko's financial health and operation compliance," commented Mr.Charlie Cao,JinkoSolar'sChief Financial Officer.

Deutsche Bank Appointed as Depositary Bank for the Sponsored American Depositary Receipt Program of GSX Techedu Inc.

Retrieved on: 
Monday, June 10, 2019
Professional services, Banking, Finance, Finance, Money, Economy, Depositary receipts, Banking, Equity securities, Legal entities, Deutsche Bank, American depositary receipt, DR, Syndicated loan, Bank

*

Key Points: 
  • *
    The appointment of Deutsche Bank as depositary bank for the GSX Techedu American Depositary Receipt program demonstrates our ongoing commitment to the Chinese market, said Brian Studdert, Global Head of Depositary Receipts at Deutsche Bank.
  • Deutsche Bank offers a very broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings.
  • Deutsche Bank is Germanys leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
  • No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank.

KBRA Assigns Preliminary Ratings to THL Credit Wind River 2019-3 CLO Secured Note Ltd.

Retrieved on: 
Wednesday, May 8, 2019
Professional services, Banking, Finance, Economy, Money, Finance, Loans, Financial law, THL, Collateralized loan obligation, Syndicated loan, Kroll Bond Rating Agency, CLO

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to one class of notes (Secured Notes) issued by THL Credit Wind River 2019-3 Secured Note Ltd. (THL 2019-3 Secured Note).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to one class of notes (Secured Notes) issued by THL Credit Wind River 2019-3 Secured Note Ltd. (THL 2019-3 Secured Note).
  • The Secured Notes hold $5.00m of Class B, $10.00m of Class C, $5.00m of Class D, and $5.0m of the Subordinated Notes from THL Credit Wind River 2019-3 CLO Ltd., (THL 2019-3 CLO), a cash flow collateralized loan obligation (CLO) managed by THL Credit Advisors LLC (THL).
  • THL 2019-3 CLO will have a five-year reinvestment period and the legal final maturity is on April 15, 2031.
  • THL Credit has a multi-faceted alternative credit product suite across direct lending, broadly syndicated loans, and the CLO platform.

LendingHome Announces First Issuance and Closing of $219 Million Revolving Asset-Backed Securitization

Retrieved on: 
Tuesday, March 26, 2019
Technology, Internet, Professional services, Finance, Construction & Property, Residential Building & Real Estate, Finance, Money, Economy, Structured finance, Debt, Financial law, United States housing bubble, Corporate finance, Securitization, Asset-backed security, Mezzanine capital, Syndicated loan

1 lender today announced it has completed its first syndicated, revolving securitization of residential transition loans, issuing approximately $208 million of non-rated, asset-backed securities.

Key Points: 
  • 1 lender today announced it has completed its first syndicated, revolving securitization of residential transition loans, issuing approximately $208 million of non-rated, asset-backed securities.
  • LendingHome Funding Corporation a wholly owned subsidiary of LendingHome Corporation acted as sponsor for the transaction and originated 100% of the loans in the transaction.
  • The transaction, which totaled approximately $219 million in aggregate, was structured with a two-year revolving period during which principal payoffs can be reinvested in newly originated loans.
  • The securitization is structured as approximately $208 million of senior- and mezzanine-class offered certificates and approximately $11 million of subordinate-class, non-offered certificates for a total deal size of approximately $219 million.

Sunil W. Savkar Joins Debevoise's Finance Group

Retrieved on: 
Monday, March 18, 2019
Finance, Money, Economy, Private equity, Corporate finance, Debevoise & Plimpton, Leveraged buyout, Syndicated loan, Mezzanine capital, Project finance

NEW YORK, March 18, 2019 /PRNewswire/ --Debevoise & Plimpton LLP today announced that Sunil W. Savkar, a highly regarded finance lawyer, has joined the firm's corporate department as partner and member of the firm's Finance Group and Private Equity Group.

Key Points: 
  • NEW YORK, March 18, 2019 /PRNewswire/ --Debevoise & Plimpton LLP today announced that Sunil W. Savkar, a highly regarded finance lawyer, has joined the firm's corporate department as partner and member of the firm's Finance Group and Private Equity Group.
  • "Sunil's nearly 20 years of broad-gauged finance experience aligns perfectly with our leveraged finance practice.
  • Sunil brings a valuable perspective on complex finance issues that will make him particularly attractive to our clients, and further enhance our finance team."
  • The Finance Group spans the firm's global offices, representing a wide spectrum of clients, including issuers, private equity sponsors, project sponsors and companies, private credit lenders, institutional investors, airlines, lessors and lessees whose needs involve acquisition finance, project finance, equipment finance, structured finance and derivatives, syndicated loans, high-yield bond offerings, mezzanine finance and private placements.

Loan Ecosystem Online Enhances Loan Agency Operations with Integrated Tickler System

Retrieved on: 
Tuesday, March 5, 2019
Technology, Data management, Software, Security, Professional services, Banking, Finance, Loans, Credit, Financial law, Syndicated loan, Tickler

Loan Ecosystem Online (LEO), a financial technology platform that streamlines the syndicated loan process, has integrated a tickler system, allowing an agent to track time-sensitive tasks under a credit agreement for the borrower, loan operations, and the agent.

Key Points: 
  • Loan Ecosystem Online (LEO), a financial technology platform that streamlines the syndicated loan process, has integrated a tickler system, allowing an agent to track time-sensitive tasks under a credit agreement for the borrower, loan operations, and the agent.
  • The new tickler system can be used to set up a task as a one-time event or follow specified recurrence rules.
  • An industry first, the ticklers are deeply integrated with the LEO data room, allowing documents attached to the tickler to be directly posted and messaged to lenders.
  • Whether originating club or broadly syndicated loan deals, LEO captures all data touch points, in real time, for each originator.

Monroe Capital Selected as the 2018 Lower Mid-Market Lender of the Year by Private Debt Investor

Retrieved on: 
Tuesday, March 5, 2019
Small business, Professional services, Banking, Finance, Economy, Finance, Money, Credit, Financial law, Corporate finance, Investment, Private equity, Debt, Direct lending, Golub Capital, Syndicated loan

Monroe Capital LLC was selected again as the recipient of the 2018 Lower Mid-Market Lender of the Year Award in the Americas region by Private Debt Investor, a global independent publication based in London covering the private debt and private equity industries.

Key Points: 
  • Monroe Capital LLC was selected again as the recipient of the 2018 Lower Mid-Market Lender of the Year Award in the Americas region by Private Debt Investor, a global independent publication based in London covering the private debt and private equity industries.
  • Monroe Capital is a private credit asset management firm specializing in direct lending and opportunistic private credit, providing senior and junior debt financing to businesses, special situation borrowers, and private equity sponsors.
  • Winners were selected by eligible voters among the private debt, private equity and institutional investor communities.
  • "Private Debt Investor congratulates the Monroe Capital team on its award in what was a very competitive category.