Debtor | Jotup

Sotherly Hotels Inc. Announces Refinancing and Renovation Plans for Philadelphia Hotel

Retrieved on:

Freitag, Mai 3, 2024

SOHO, Toronto-Dominion Bank, Debtor, Food, DoubleTree, Hilton Worldwide

The interest-only loan, which has been reduced by $3.0 million to $35.9 million, matures in April 2026 and carries a floating interest rate based on SOFR plus 3.5%.

Key Points:

The interest-only loan, which has been reduced by $3.0 million to $35.9 million, matures in April 2026 and carries a floating interest rate based on SOFR plus 3.5%.
As part of the transaction, the Borrower purchased an Interest Rate Cap capping SOFR at 3.0%.
The Company also announced that it has entered into a new 10-year franchise agreement with Hilton Worldwide to relicense the hotel under the DoubleTree by Hilton flag.
Renovation plans for the property to include upgrades to guestrooms, public spaces, food and beverage spaces, and building exterior.

Global Blue Announces Repricing of Term Loan and Revolving facility

Retrieved on:

Freitag, Mai 3, 2024

Data Management, Lodging, Consumer Electronics, Technology, Travel, Professional Services, Payments, Electronic Commerce, Apps, Applications, Data Analytics, Software, Debtor, Term loan

In light of this ongoing recovery and deleveraging trajectory, the Company launched a repricing of its seven year €610 million senior secured term loan (“Term Loan”) and €97.5 million senior secured revolving credit facility (“Revolving Facility”).

Key Points:

In light of this ongoing recovery and deleveraging trajectory, the Company launched a repricing of its seven year €610 million senior secured term loan (“Term Loan”) and €97.5 million senior secured revolving credit facility (“Revolving Facility”).
The Company today announced that its subsidiary Global Blue Acquisition B.V. (the “Borrower”) has successfully allocated the repricing of Term Loan and Revolving Facility.
The repricing is expected to close on or prior to 30 June 2024 and upon closing will reduce the interest rate margin applicable to the Borrower under the Term Loan by 100 basis points from 5.00% p.a.
and the Revolving Facility by 100 basis points from 4.50% to 3.50%, in each case subject to further reduction pursuant to a margin ratchet based on leverage.

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for May

Retrieved on:

Montag, April 22, 2024

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on May 15, 2024, to shareholders of record as of May 2, 2024.

Key Points:

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on May 15, 2024, to shareholders of record as of May 2, 2024.
The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically.
The Fund pursues these investment objectives by investing primarily in senior secured floating-rate corporate loans.
Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in lower grade debt instruments.

Survivors Overwhelmingly Reject The Roman Catholic Diocese of Rockville Centre's Plan Of Reorganization

Retrieved on:

Samstag, April 13, 2024

Rockville Centre, New York, Hearing, Creditor, Bankruptcy, The Survivor, Suggestion, History, Survivor, Debtor, Court, Committee, Burns, Child, Disclosure, Life insurance

NEW YORK, April 12, 2024 /PRNewswire/ -- Today, in a landmark victory for victims of sex abuse ("Survivors"), the Roman Catholic Diocese of Rockville Centre ("Diocese") announced that Survivors overwhelmingly rejected its reorganization plan, which was opposed by the Creditors' Committee.

Key Points:

NEW YORK, April 12, 2024 /PRNewswire/ -- Today, in a landmark victory for victims of sex abuse ("Survivors"), the Roman Catholic Diocese of Rockville Centre ("Diocese") announced that Survivors overwhelmingly rejected its reorganization plan, which was opposed by the Creditors' Committee.
According to the Diocese, a "supermajority" of Survivors rejected the Diocese's reorganization plan.
On April 12, the Diocese filed a motion to dismiss its own bankruptcy because the Survivors rejected its plan.
In rejecting the plan, Survivors demonstrated strength and unity and demonstrated that they would not be intimidated by the Diocese.

VERSES Names Analog CEO Alex Kipman as Strategic Advisor & Closes US$2M Investment

Retrieved on:

Montag, März 18, 2024

VANCOUVER, British Columbia, March 18, 2024 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF) (“VERSES” or the “Company”), a cognitive computing company developing next-generation intelligent software systems, announces that Alex Kipman, CEO and Founder of Analog AI has joined as a Strategic Advisor.

Key Points:

VANCOUVER, British Columbia, March 18, 2024 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF) (“VERSES” or the “Company”), a cognitive computing company developing next-generation intelligent software systems, announces that Alex Kipman, CEO and Founder of Analog AI has joined as a Strategic Advisor.
Mr. Kipman spent over two decades at Microsoft, most recently in the role of Corporate Vice President/Technical Fellow, Mixed Reality and Artificial intelligence.
In doing so, Mr. Kipman helped shape the go-to-market strategy and curated an ecosystem of partners to manage the system from development, to manufacturing, to distribution.
“We are excited to engage Alex as an advisor and to leverage his relationships and years of experience,” said Gabriel René, founder and CEO of VERSES.

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for April

Retrieved on:

Mittwoch, März 20, 2024

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points:

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically.
The Fund pursues these investment objectives by investing primarily in senior secured floating-rate corporate loans.
Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in lower grade debt instruments.

Allison Transmission Announces Closing of Amend and Extend of its Revolving Credit Facility and Term Loan Debt

Retrieved on:

Montag, März 18, 2024

Allison Transmission Holdings Inc. (NYSE: ALSN) (“Allison” or the “Company”) announced today that, on March 13, 2024, its wholly owned subsidiary, Allison Transmission, Inc. (the “Borrower”), entered into a fourth amendment to its credit agreement (the “Amendment”).

Key Points:

Allison Transmission Holdings Inc. (NYSE: ALSN) (“Allison” or the “Company”) announced today that, on March 13, 2024, its wholly owned subsidiary, Allison Transmission, Inc. (the “Borrower”), entered into a fourth amendment to its credit agreement (the “Amendment”).
Pursuant to the Amendment, the Borrower increased its commitments under its revolving credit facility from $650 million to an aggregate principal amount of $750 million, extended the maturity date thereof from 2025 to March 13, 2029, and removed a 0.10% credit spread adjustment to the SOFR benchmark for all available interest periods.
Also pursuant to the Amendment, the Borrower refinanced $518 million of term loan debt, paid down approximately $100 million of existing term loan debt, extended the maturity date thereof from 2026 to March 13, 2031, and removed a 0.10% credit spread adjustment to the SOFR benchmark for all available interest periods, while maintaining the SOFR plus 175 interest rate.
“As a result of this offering, we were able to increase the capacity under our revolving credit facility and reduce the effective interest rate on our term loan debt, while extending out maturities so that our earliest maturity on our long-term debt is now in 2027.”

Aegros Limited proposes to issue debentures in a series of tranches up to an aggregate face value of AUD25 million for subscription by investors

Retrieved on:

Dienstag, März 12, 2024

Facility, Tax, Equipment, Debtor, NSW, Accounting, Plant, GSA, The Borrowers, Valuation, Business, Tranche, Commercial property

The existing Investors will have 4 weeks to provide credit approvals to the Borrower.

Key Points:

The existing Investors will have 4 weeks to provide credit approvals to the Borrower.
If Investors do not provide approvals within this timeframe, the Borrower may approach new Investors to provide the facility
Availability is subject to the Borrowing Base calculated as follows:
A = 85% of the non-equipment R&DTOR which has been accrued but not yet received as detailed in the Review Letter.
C = Any clawback amount advised by the ATO or taxes otherwise due to the ATO.
D = Orderly Liquidation Value of Property, Plant & Equipment per the Valuation Report
The Borrower may repay the Facility upon giving no less than 2 Business Days' notice.

Venture West Funding Facilitates $14.68 Million Loan for Van Nuys Luxury Apartment Building Refinance

Retrieved on:

Mittwoch, Februar 28, 2024

Interior Design, Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, First Citizens BancShares, Debtor, Suite, Treasury, Financial services

Venture West Funding, a leading commercial mortgage brokerage firm headquartered in El Segundo, CA, proudly announces the successful arrangement of a $14,680,000 refinance of a luxury apartment building located in Van Nuys, CA.

Key Points:

Venture West Funding, a leading commercial mortgage brokerage firm headquartered in El Segundo, CA, proudly announces the successful arrangement of a $14,680,000 refinance of a luxury apartment building located in Van Nuys, CA.
The upscale apartment building features a blend of high-end studio, one, two, and three-bedroom units designed with modern elegance.
Principal of Venture West Funding Matt Douglas successfully orchestrated the financing arrangement with First Citizens Bank.
The Venture West team demonstrated unwavering dedication, working seamlessly with both the Borrower and lender to ensure a smooth and successful loan closing.

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for March

Retrieved on:

Dienstag, Februar 20, 2024

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on March 15, 2024, to shareholders of record as of March 4, 2024.

Key Points:

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on March 15, 2024, to shareholders of record as of March 4, 2024.
The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically.
The Fund pursues these investment objectives by investing primarily in senior secured floating-rate corporate loans.
Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in lower grade debt instruments.