Applicable margin reset

GoDaddy Inc. Completes Refinancing of Existing Amendment No. 6 Term Loans

Retrieved on: 
Wednesday, July 19, 2023
Royal Bank of Canada, Letter, Eighth Amendment to the Constitution of Pakistan, Applicable margin reset, Credit agreements in South Africa, Eighth Amendment, SOFR, Eighth, Ninety-second Amendment of the Constitution of India, Securities and Exchange Commission (Philippines), NYSE, Term loan, Security (finance), GoDaddy, The Borrowers, Credit, News

The Eighth Amendment provides for a new $1,761 million tranche of term loans maturing in 2029 (the "Replacement Term Loans"), the proceeds of which were used to refinance all outstanding Existing Amendment No.

Key Points: 
  • The Eighth Amendment provides for a new $1,761 million tranche of term loans maturing in 2029 (the "Replacement Term Loans"), the proceeds of which were used to refinance all outstanding Existing Amendment No.
  • 6 Term Loans.
  • The amortization rate for the Replacement Term Loans is 1.00% per annum and the first installment shall be payable on or about September 30, 2023.
  • Pursuant to the Eighth Amendment, the Applicable Margin is (i) 2.50% for the Replacement Term Loans that are SOFR Loans and (ii) 1.50% for the Replacement Term Loans that are ABR Loans.

Chicago Atlantic Real Estate Finance Amends its Revolving Credit Facility to Extend Maturity to December 2024

Retrieved on: 
Tuesday, February 28, 2023
Prime rate, First, Security, Lincoln, Applicable margin reset, Constitutional right, FDIC, Casino

CHICAGO, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) ("Chicago Atlantic" or the “Company”), a commercial real estate finance company, today announced that Chicago Atlantic Lincoln, LLC (“Chicago Atlantic Lincoln”), its wholly-owned financing subsidiary, entered into the First Amendment to the Third Amended and Restated Loan and Security Agreement by and among Chicago Atlantic Lincoln and six FDIC-insured financial institutions to extend the maturity of its $92.5 million secured revolving credit facility (the “Revolving Loan”).

Key Points: 
  • CHICAGO, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) ("Chicago Atlantic" or the “Company”), a commercial real estate finance company, today announced that Chicago Atlantic Lincoln, LLC (“Chicago Atlantic Lincoln”), its wholly-owned financing subsidiary, entered into the First Amendment to the Third Amended and Restated Loan and Security Agreement by and among Chicago Atlantic Lincoln and six FDIC-insured financial institutions to extend the maturity of its $92.5 million secured revolving credit facility (the “Revolving Loan”).
  • The Company extended the maturity date from December 16, 2023 to December 16, 2024 and retained the one-year extension option, subject to customary conditions.
  • The Revolving Loan bears interest at the Prime Rate plus an Applicable Margin, based upon Chicago Atlantic Lincoln’s leverage ratio.
  • The Applicable Margin ranges from 0% to 1.25% over the Prime Rate, subject to a 3.25% Prime Rate floor.

Torex Gold Announces Increased and Extended Credit Facilities

Retrieved on: 
Thursday, August 18, 2022
GLOBE, Applicable margin reset, TSX, Credit, ESG, Media Luna, Credit agreements in South Africa, National bank, National Bank of Canada, Company, Technical report, Scotiabank, Société Générale, Gold, Guerrero Gold Belt, Bank of Montreal, ELG, Bank, SEDAR

TORONTO, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces the Company has finalized a credit agreement with a syndicate of Banks which increases the amount of credit available to $250 million from $150 million and extends the maturity of the facilities into 2025 from 2023.

Key Points: 
  • Dollars unless otherwise stated)
    TORONTO, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the Company or Torex) (TSX: TXG)announces the Company has finalized a credit agreement with a syndicate of Banks which increases the amount of credit available to $250 million from $150 million and extends the maturity of the facilities into 2025 from 2023.
  • We are pleased to increase the capacity and extend the maturity of our credit facilities with a syndicate of supportive lenders.
  • The amended credit agreement represents another key de-risking milestone in the development of the Media Luna Project.
  • ABOUT TOREX GOLD RESOURCES INC.
    Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City.

Stoneway Obtains Interim Order in Connection with Restructuring Transaction

Retrieved on: 
Thursday, March 24, 2022
Final, Title 11 of the United States Code, Note, US, Interim order, Debt-to-GDP ratio, Solicitation, SCC, United States bankruptcy court, Chapter 11, Title 11, United States Code, Sale, Debtor, Court, Senior, Industry, Final order, Ontario Superior Court of Justice, Hearing, List, Bankruptcy, Forward-looking statement, Ownership, Applicable margin reset, Promissory note, Conference proceeding, Partnership, Canada Business Corporations Act, Eastern Time Zone, CBCA, Term loan, Seventh Generation Inc., Disclosure, News, DIP, Bankruptcy Code, Plan, Information disclosure statement, Property management, Security (finance), Bank, Online shopping, New, Procurement, Arrangement

Subject to the receipt of all requisite approvals and the satisfaction or waiver of the other conditions to completion of the Restructuring Transaction, the Stoneway Group is working towards completing the Restructuring Transaction in May 2022.

Key Points: 
  • Subject to the receipt of all requisite approvals and the satisfaction or waiver of the other conditions to completion of the Restructuring Transaction, the Stoneway Group is working towards completing the Restructuring Transaction in May 2022.
  • Additional information in connection with the implementation of the Restructuring Transaction, the CBCA Proceedings and the Chapter 11 Proceedings will be made available on the Prime Clerk Website.
  • The Stoneway Group's principal business is the construction, ownership and operation of power generation facilities located in Argentina.
  • The Stoneway Group does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.

Group of Debentureholders Commences Lawsuit Against GPI Finco (Canada) Inc. and Odyssey Trust Company

Retrieved on: 
Wednesday, March 16, 2022
Odyssey, GLOBE, Ontario Superior Court of Justice, Applicable margin reset, LLC, GPI, Lawsuit, Warrant, Contract, Consumer, LP, Security (finance)

TORONTO, March 16, 2022 (GLOBE NEWSWIRE) -- Entities related to Granite Point Capital Management, LP, E Squared Capital, Cohen Capital, and Hadron Capital1 along with several other debentureholders (the Applicants) announced today that they have commenced litigation against GPI Finco (Canada) Inc. (GPI) and Odyssey Trust Company (Odyssey) in the Ontario Superior Court of Justice (the Lawsuit).

Key Points: 
  • TORONTO, March 16, 2022 (GLOBE NEWSWIRE) -- Entities related to Granite Point Capital Management, LP, E Squared Capital, Cohen Capital, and Hadron Capital1 along with several other debentureholders (the Applicants) announced today that they have commenced litigation against GPI Finco (Canada) Inc. (GPI) and Odyssey Trust Company (Odyssey) in the Ontario Superior Court of Justice (the Lawsuit).
  • Each of the Applicants held debentures issued by GPI.
  • The Lawsuit concerns GPIs refusal to issue certain share purchase warrants (the Warrants) to the Applicants, allegedly in breach of the Applicants contracts with GPI.
  • The Lawsuit seeks a Court Order requiring GPI to issue the Warrants to the Applicants.

Berkshire Bancorp Inc. Reports Bank Regulators' Receipt of Applications in Connection with Potential Transaction

Retrieved on: 
Thursday, February 3, 2022
Berkshire Bank, Karl Marx, Financial services, OTCQB, Federal Reserve Bank of New York, Federal Reserve Bank, Family, Investment, Applicable margin reset, Asset

Whether and when the potential transaction would occur and the terms thereof will be determined solely by the Applicants, subject to regulatory approval.

Key Points: 
  • Whether and when the potential transaction would occur and the terms thereof will be determined solely by the Applicants, subject to regulatory approval.
  • BERK is not (and does not expect to become) a party to any definitive agreements for the potential transaction.
  • Berkshire Bancorp Inc. is a bank holding company headquartered in New York City.
  • Berkshire Bancorp has one banking subsidiary, The Berkshire Bank, a New York State chartered commercial bank.

KopenTech appoints Jill Scalisi as Chief Engagement Officer

Retrieved on: 
Tuesday, August 3, 2021
Finance, Money, Financial markets, Loans, Applicable margin reset, Brokerage firms, United States securities law, Financial Industry Regulatory Authority, Broker-dealer

LOS ANGELES, Aug. 3, 2021 /PRNewswire/ -- KopenTech, the online trading and analytics platform for structured products, and its wholly-owned subsidiary KopenTech Capital Markets LLC, a FINRA-registered broker-dealer and SEC-registered ATS, announced today the appointment of Jill Scalisi as Chief Engagement Officer.

Key Points: 
  • LOS ANGELES, Aug. 3, 2021 /PRNewswire/ -- KopenTech, the online trading and analytics platform for structured products, and its wholly-owned subsidiary KopenTech Capital Markets LLC, a FINRA-registered broker-dealer and SEC-registered ATS, announced today the appointment of Jill Scalisi as Chief Engagement Officer.
  • "We are excited to welcome Jill to the team as KopenTech strives to improve the market structure for CLO trading."
  • KopenTech is known for two platforms: KopenTech BWIC, the first electronic trading and analytics platform for CLOs, and KopenTech AMR, which hosts Applicable Margin Reset CLO refinancing auctions.
  • KopenTech is the largest online CLO trading network, and the company is planning several new product releases in 2021 -2022.

KBRA Assigns Preliminary Ratings to Diameter Capital CLO 1 Ltd

Retrieved on: 
Friday, July 9, 2021
Professional services, Finance, Loans, Collateralized loan obligation, Mortgage, CLO, Economy, Financial law, Financial services, Applicable margin reset

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Diameter Capital CLO 1 Ltd (Diameter CLO 1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Diameter Capital CLO 1 Ltd (Diameter CLO 1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.
  • Diameter CLO 1 is managed by Diameter CLO Advisors LLC (Diameter or the collateral manager) and will have a five-year reinvestment period.
  • The collateral in Diameter CLO 1 will mainly consist of broadly syndicated leveraged loans issued by corporate obligors diversified across sectors.
  • Diameter CLO Advisors LLC is the CLO platform of Diameter Capital Partners LP (DCP), an alternative asset management firm established in 2017.

Orchard Global Recruits Top Talent to Manage Growing CLO Portfolio

Retrieved on: 
Thursday, July 8, 2021
Loans, Finance, Money, Collateralized loan obligation, Mortgage, Structured finance, United States housing bubble, CLO, Mortgage-backed security, Economy, Applicable margin reset

LONDON, July 8, 2021 /PRNewswire/ -- Orchard Global, a leading alternative assets manager, today announced that Rachit Prasad is joining as a Portfolio Manager focused on advancing the firm's strategies in the collateralized loan obligation (CLO) space.

Key Points: 
  • LONDON, July 8, 2021 /PRNewswire/ -- Orchard Global, a leading alternative assets manager, today announced that Rachit Prasad is joining as a Portfolio Manager focused on advancing the firm's strategies in the collateralized loan obligation (CLO) space.
  • Mr. Prasad comes to Orchard Global from Deutsche Bank, where he served as a Director on the highly regarded European ABS research desk covering leveraged loan CLOs and residential mortgage-backed securities.
  • "In both current and prior roles, our leadership team at Orchard Global has been instrumental in establishing the modern CLO market, and we are proud of our firm's strong CLO track record going back over 15 years," said John R. Young, Chief Investment Officer.
  • "Orchard has built a distinctive approach to identifying and capturing opportunities in the CLO market as well as offering strategic risk retention solutions to global CLO managers," said Mr. Prasad.

Orchard Global Recruits Top Talent to Manage Growing CLO Portfolio

Retrieved on: 
Thursday, July 8, 2021
Loans, Finance, Money, Collateralized loan obligation, Mortgage, Structured finance, United States housing bubble, CLO, Mortgage-backed security, Economy, Applicable margin reset

LONDON, July 8, 2021 /PRNewswire/ -- Orchard Global, a leading alternative assets manager, today announced that Rachit Prasad is joining as a Portfolio Manager focused on advancing the firm's strategies in the collateralized loan obligation (CLO) space.

Key Points: 
  • LONDON, July 8, 2021 /PRNewswire/ -- Orchard Global, a leading alternative assets manager, today announced that Rachit Prasad is joining as a Portfolio Manager focused on advancing the firm's strategies in the collateralized loan obligation (CLO) space.
  • Mr. Prasad comes to Orchard Global from Deutsche Bank, where he served as a Director on the highly regarded European ABS research desk covering leveraged loan CLOs and residential mortgage-backed securities.
  • "In both current and prior roles, our leadership team at Orchard Global has been instrumental in establishing the modern CLO market, and we are proud of our firm's strong CLO track record going back over 15 years," said John R. Young, Chief Investment Officer.
  • "Orchard has built a distinctive approach to identifying and capturing opportunities in the CLO market as well as offering strategic risk retention solutions to global CLO managers," said Mr. Prasad.