Note

KBRA Assigns Preliminary Ratings to RRE 8 Loan Management DAC

Retrieved on: 
Monday, August 23, 2021
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Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 8 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.

Key Points: 
  • Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 8 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.
  • RRE 8 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (RRAM UK or the collateral manager).
  • The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvestment overcollateralisation test.
  • The collateral in RRE 8 Loan Management DAC will mainly consist of broadly syndicated leveraged loans and bonds issued by corporate obligors diversified across sectors.

Century Communities Announces the Closing of its Private Offering of $500 Million of Senior Notes due 2029

Retrieved on: 
Monday, August 23, 2021
Other Construction & Property, Residential Building & Real Estate, Construction & Property, Company, Securities Act of 1933, Acquisition, CCS, Insurance, 21st Century Community Learning Centers, Note, Person, Century, Redemption, Forward-looking statement, NYSE, Senior, Community, Debt-to-GDP ratio, Sale, Annual report, Security (finance)

Century Communities, Inc. (NYSE: CCS), a leading national homebuilder, today announced that it has successfully closed its private offering of $500 million aggregate principal amount of its new 3.875% Senior Notes due 2029 (the Notes).

Key Points: 
  • Century Communities, Inc. (NYSE: CCS), a leading national homebuilder, today announced that it has successfully closed its private offering of $500 million aggregate principal amount of its new 3.875% Senior Notes due 2029 (the Notes).
  • The Company intends to use a portion of the net proceeds from the offering to redeem (the Redemption) all $400 million aggregate principal amount of its outstanding 5.875% Senior Notes due 2025 (the 2025 Senior Notes).
  • Following the Redemption of the 2025 Senior Notes, the Company intends to use the remaining net proceeds from the offering for general corporate purposes.
  • Forward-looking statements in this press release include statements relating to the intended use of proceeds from the offering of the Notes and the Redemption of the 2025 Senior Notes.

Ecolab Announces Early Participation Date Results for Exchange Offers and Extension of Deadline to Receive the Early Participation Amount

Retrieved on: 
Monday, August 23, 2021
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The Exchange Offers will expire at 11:59 p.m., New York City time, on September 3, 2021, unless extended.

Key Points: 
  • The Exchange Offers will expire at 11:59 p.m., New York City time, on September 3, 2021, unless extended.
  • Only holders who have duly completed and submitted an eligibility letter (which may be found at www.dfking.com/ecolab ) are authorized to receive the Exchange Offer Documents and participate in the Exchange Offers.
  • Consummation of the Exchange Offers is subject to a number of conditions as set forth in the confidential offering memorandum relating to the Exchange Offers.
  • King & Co., Inc. will act as the Information Agent and the Exchange Agent for the Exchange Offers.

Northrop Grumman Corporation Announces Results of Early Participation in Exchange Offers and Consent Solicitations

Retrieved on: 
Monday, August 23, 2021
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The Exchange Offers and Consent Solicitations will expire at 11:59 p.m., New York City time, on August 31, 2021, unless such date is extended (the Expiration Date).

Key Points: 
  • The Exchange Offers and Consent Solicitations will expire at 11:59 p.m., New York City time, on August 31, 2021, unless such date is extended (the Expiration Date).
  • Northrop Grumman currently expects settlement of the Exchange Offers to occur on September 2, 2021, unless the Expiration Date is extended.
  • The complete terms and conditions of the Exchange Offers and Consent Solicitations are described in the Offering Memorandum and Consent Solicitation Statement, a copy of which may be obtained by contacting D.F.
  • Forward-looking statements include, among other things, statements relating to the timing or consummation of the exchange offers and consent solicitations.

JPMorgan Chase & Co. Declares Quarterly Coupon on Alerian MLP Index ETN

Retrieved on: 
Friday, August 20, 2021
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The Current Yield is not indicative of future coupon payments, if any, on the Notes.

Key Points: 
  • The Current Yield is not indicative of future coupon payments, if any, on the Notes.
  • The Notes are senior, unsecured obligations of JPMorgan Chase & Co.
    About JPMorgan Chase & Co.
    JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (U.S.), with operations worldwide.
  • JPMorgan Chase had $3.7 trillion in assets and $286.4 billion in stockholders equity as of June 30, 2021.
  • JPMorgan Chase & Co. has filed a registration statement (including a prospectus) with the Securities and Exchange Commission, or SEC, for the offering to which this communication relates.

Southside Bancshares, Inc. Announces Call for Redemption of 5.50% Fixed-to-Floating Rate Subordinated Notes Due 2026

Retrieved on: 
Friday, August 20, 2021
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The Notes will be redeemed in full at 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the Redemption Date.

Key Points: 
  • The Notes will be redeemed in full at 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the Redemption Date.
  • Interest on the Notes will cease to accrue on and after the Redemption Date.
  • "Given the current interest rate environment, we have called for redemption of our 5.50% Subordinated Notes, which will lower our funding costs and be accretive to earnings," stated Lee R. Gibson, Chief Executive Officer of Southside Bancshares, Inc.
  • Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $7.18 billion in assets as of June 30, 2021, that wholly-owns Southside Bank.

Enstar Group Limited Announces Pricing For Its Cash Tender Offer

Retrieved on: 
Friday, August 20, 2021
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The Tender Offer is being made pursuant to the Offer to Purchase and the related Notice of Guaranteed Delivery (the Notice of Guaranteed Delivery, and together with the Offer to Purchase, the Offer Documents), which set forth the terms and conditions of the Tender Offer.

Key Points: 
  • The Tender Offer is being made pursuant to the Offer to Purchase and the related Notice of Guaranteed Delivery (the Notice of Guaranteed Delivery, and together with the Offer to Purchase, the Offer Documents), which set forth the terms and conditions of the Tender Offer.
  • Holders who validly tender their Notes may validly withdraw their tendered Notes when and in the manner described in the Offer to Purchase.
  • THE TENDER OFFER IS BEING MADE SOLELY PURSUANT TO THE OFFER DOCUMENTS, WHICH SET FORTH THE COMPLETE TERMS OF THE TENDER OFFER THAT HOLDERS OF THE NOTES SHOULD CAREFULLY READ PRIOR TO MAKING ANY DECISION.
  • NONE OF ENSTAR, ITS BOARD OF DIRECTORS, THE DEALER MANAGERS, THE INFORMATION AND TENDER AGENT OR ANY TRUSTEE FOR THE NOTES IS MAKING ANY RECOMMENDATION AS TO WHETHER HOLDERS SHOULD TENDER NOTES IN THE TENDER OFFER.

Hanmi Announces Closing of $110 Million Subordinated Debt Offering

Retrieved on: 
Friday, August 20, 2021
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LOS ANGELES, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC) (Hanmi), the holding company for Hanmi Bank, today announced the closing of its underwritten public offering of $110 million aggregate principal amount of its 3.750% Fixed-to-Floating Rate subordinated notes (the Notes) due 2031.

Key Points: 
  • LOS ANGELES, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC) (Hanmi), the holding company for Hanmi Bank, today announced the closing of its underwritten public offering of $110 million aggregate principal amount of its 3.750% Fixed-to-Floating Rate subordinated notes (the Notes) due 2031.
  • The Company plans to use the net proceeds from the Notes offering for general corporate purposes, which may include refinancing activities, including repayment of all or a portion of the outstanding principal amount of our outstanding subordinated notes and junior subordinated debentures.
  • Luse Gorman, PC acted as legal counsel to Hanmi and Holland & Knight LLP acted as legal counsel to the underwriters.
  • Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses.

KBRA Assigns Preliminary Ratings to RRE 8 Loan Management DAC

Retrieved on: 
Friday, August 20, 2021
Banking, Professional Services, Finance, Union, LLC, European Securities and Markets Authority, Insurance commissioner, European, U.S. Securities and Exchange Commission, European Union, KBRA, Jetivia SA v Bilta (UK) Limited (in liquidation), Note, CLO, Bond, National Association of Insurance Commissioners, LLP, Credit, Euro, CRA, Clos, Saint Augustine House, Prospectus, Class, RRE, National Association, ESG, Ontario Securities Commission, RRAM, Security (finance)

Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 8 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.

Key Points: 
  • Kroll Bond Rating Agency UK Limited (KBRA) assigns preliminary ratings to five classes of notes issued by RRE 8 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans and bonds.
  • RRE 8 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (RRAM UK or the collateral manager).
  • The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvestment overcollateralisation test.
  • The collateral in RRE 8 Loan Management DAC will mainly consist of broadly syndicated leveraged loans and bonds issued by corporate obligors diversified across sectors.

Stagwell Inc. (STGW) Announces Closing of Senior Notes Issuance to Refinance Existing Debt

Retrieved on: 
Friday, August 20, 2021
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A portion of the proceeds from the Offering was used to redeem all $870.3 million aggregate principal amount of the Issuer's outstanding 7.50% Senior Notes due 2024 (the "Existing Notes"), including accrued interest, related premiums, fees and expenses.

Key Points: 
  • A portion of the proceeds from the Offering was used to redeem all $870.3 million aggregate principal amount of the Issuer's outstanding 7.50% Senior Notes due 2024 (the "Existing Notes"), including accrued interest, related premiums, fees and expenses.
  • The Issuer intends to use the remaining proceeds of the Offering to reduce credit facility borrowings and for general corporate purposes.
  • Any offers of the Notes are being made only by means of a private offering circular.
  • This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.