S&P

Grand City Properties S.A. announces successful exchange and tender offer supporting credit metrics and FFO. Issuing new benchmark perpetual note.

Retrieved on: 
Mercoledì, Aprile 10, 2024
GCP, METRICS, S&P, FFO

Grand City Properties S.A. announces successful exchange and tender offer supporting credit metrics and FFO.

Key Points: 
  • Grand City Properties S.A. announces successful exchange and tender offer supporting credit metrics and FFO.
  • ANNOUNCES SUCCESSFUL EXCHANGE AND TENDER OFFER SUPPORTING CREDIT METRICS AND FFO.
  • Luxembourg, April 10, 2024 – Grand City Properties S.A. (“GCP” or the “Company”) announces the successful results of voluntary exchange offer of two of the Company’s perpetual notes (the “Offer”).
  • €410 million of new perpetual notes and simultaneously repurchase €34 million of existing perpetual notes via the tender offer (see detailed breakdown further below).

S&P confirms Helvetia's 'A+' rating

Retrieved on: 
Mercoledì, Aprile 10, 2024
Excellent, Insurance, S&P

The rating agency S&P has confirmed Helvetia Group's financial strength rating of "A+" with a stable outlook.

Key Points: 
  • The rating agency S&P has confirmed Helvetia Group's financial strength rating of "A+" with a stable outlook.
  • Standard & Poor's Global Ratings (S&P) has affirmed Helvetia Group's "A+" rating with a stable outlook.
  • As part of the update, S&P now rates Helvetia's financial risk profile with the highest rating of "Excellent".
  • "By confirming the rating, S&P recognises Helvetia's strong balance sheet and solid earnings power", explains Annelis Lüscher Hämmerli, Group CFO of Helvetia.

Aroundtown SA announces successful exchange and tender offer supporting credit metrics and FFO. Issuing new benchmark perpetual notes.

Retrieved on: 
Mercoledì, Aprile 10, 2024
Offers, Aroundtown SA, METRICS, S&P, FFO

Aroundtown SA announces successful exchange and tender offer supporting credit metrics and FFO.

Key Points: 
  • Aroundtown SA announces successful exchange and tender offer supporting credit metrics and FFO.
  • Issuing new benchmark perpetual notes.
  • Aroundtown (“the Company” or “AT”), announces the successful results of voluntary exchange and tender offers of four series of Aroundtown euro denominated perpetual notes and two series of its subsidiary Grand City Properties S.A. (“GCP”, together with AT the “Group”) euro denominated perpetual notes (together, the “Offers”).
  • €1.6 billion of new perpetual notes across three different series and simultaneously repurchase €136 million of perpetual notes via the tender offer (see detailed breakdown further below).

EQS-News: Grand City Properties S.A. announces successful exchange and tender offer supporting credit metrics and FFO. Issuing new benchmark perpetual note.

Retrieved on: 
Mercoledì, Aprile 10, 2024
GCP, METRICS, S&P, FFO

Grand City Properties S.A. announces successful exchange and tender offer supporting credit metrics and FFO.

Key Points: 
  • Grand City Properties S.A. announces successful exchange and tender offer supporting credit metrics and FFO.
  • ANNOUNCES SUCCESSFUL EXCHANGE AND TENDER OFFER SUPPORTING CREDIT METRICS AND FFO.
  • Luxembourg, April 10, 2024 – Grand City Properties S.A. (“GCP” or the “Company”) announces the successful results of voluntary exchange offer of two of the Company’s perpetual notes (the “Offer”).
  • €410 million of new perpetual notes and simultaneously repurchase €34 million of existing perpetual notes via the tender offer (see detailed breakdown further below).

Grand City Properties S.A. launches an exchange offer with 15% tender option to the holders of certain perpetual notes

Retrieved on: 
Mercoledì, Aprile 10, 2024
MTF, EUR, Exchange, City, S&P, MAR, Grand City Properties, Luxembourg Stock Exchange, Security (finance)

Luxembourg, 2 April 2024 - The Board of Directors of Grand City Properties S.A. (the "Company" and together with its subsidiaries “Grand City Properties”) has resolved today to launch a voluntary exchange and tender offer (the “Offer”) to the holders of two of its Euro dominated outstanding perpetual notes with the ISIN codes XS1491364953 and XS1811181566 (the "Existing Perpetual Notes").

Key Points: 
  • Luxembourg, 2 April 2024 - The Board of Directors of Grand City Properties S.A. (the "Company" and together with its subsidiaries “Grand City Properties”) has resolved today to launch a voluntary exchange and tender offer (the “Offer”) to the holders of two of its Euro dominated outstanding perpetual notes with the ISIN codes XS1491364953 and XS1811181566 (the "Existing Perpetual Notes").
  • Under the Offer, holders of the Existing Perpetual Notes will have the opportunity to exchange existing eligible holdings into either: (i) new perpetual notes at the relevant exchange ratio and a cash amount for participating in the exchange, or (ii) new perpetual notes at the relevant exchange ratio, a cash amount for participating in the exchange and a 15% redemption of their exchanged notes for cash.
  • The new undated subordinated notes will be issued by a subsidiary of the Company, Grand City Properties Finance S.à r.l.
  • Grand City Properties aims to recover the equity content under S&P rating methodology for the perpetual notes which have previously not been called on their respective first call dates.

EQS-News: Aroundtown SA announces successful exchange and tender offer supporting credit metrics and FFO. Issuing new benchmark perpetual notes.

Retrieved on: 
Mercoledì, Aprile 10, 2024
Offers, Aroundtown SA, METRICS, S&P, FFO

Aroundtown SA announces successful exchange and tender offer supporting credit metrics and FFO.

Key Points: 
  • Aroundtown SA announces successful exchange and tender offer supporting credit metrics and FFO.
  • Issuing new benchmark perpetual notes.
  • ISSUING NEW BENCHMARK PERPETUAL NOTES.
  • €1.6 billion of new perpetual notes across three different series and simultaneously repurchase €136 million of perpetual notes via the tender offer (see detailed breakdown further below).

Aroundtown SA launches exchange offer with 15% tender option to the holders of certain perpetual notes

Retrieved on: 
Mercoledì, Aprile 10, 2024
MTF, Exchange, S&P, MAR, Luxembourg Stock Exchange, Security (finance)

Luxembourg, 2 April 2024 - The Board of Directors of Aroundtown SA (the "Company" and together with its subsidiaries “Aroundtown”) has resolved today to launch a voluntary exchange and tender offer (the “Offer”) to the holders of four of its Euro denominated outstanding perpetual notes with the ISIN codes XS1508392625, XS2055106210, XS1752984440 and XS2027946610 ("Existing Perpetuals Notes").

Key Points: 
  • Luxembourg, 2 April 2024 - The Board of Directors of Aroundtown SA (the "Company" and together with its subsidiaries “Aroundtown”) has resolved today to launch a voluntary exchange and tender offer (the “Offer”) to the holders of four of its Euro denominated outstanding perpetual notes with the ISIN codes XS1508392625, XS2055106210, XS1752984440 and XS2027946610 ("Existing Perpetuals Notes").
  • Under the Offer, holders of the Existing Perpetual Notes will have the opportunity to exchange existing eligible holdings into either: (i) new perpetual notes at the relevant exchange ratio and a cash amount for participating in the exchange, or (ii) new perpetual notes at the relevant exchange ratio, a cash amount for participating in the exchange and a 15% redemption of their exchanged notes for cash.
  • Under the Offer, holders of the Existing Perpetual Notes with the ISIN code XS1508392625 and a current coupon of 7.078% and the ISIN code XS2055106210 and a current coupon of 3.375% (coupon of ca.
  • The details of the Offer will be made available in an Exchange and Tender Offer Memorandum.

Canadian General Investments: Investment Update - Unaudited

Retrieved on: 
Mercoledì, Aprile 3, 2024
S&P, TSX, CGI, NAV, Airline

TORONTO, Canada, April 03, 2024 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at March 31, 2024 was $62.80, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.4% and 22.2%, respectively.

Key Points: 
  • TORONTO, Canada, April 03, 2024 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at March 31, 2024 was $62.80, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.4% and 22.2%, respectively.
  • These compare with the 6.6% and 14.0% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
  • The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders.
  • The sector weightings of CGI’s investment portfolio at market as of March 31, 2024 were as follows:

Stifel Financial Earns Credit Upgrade

Retrieved on: 
Martedì, Aprile 2, 2024
Risk management, S&P Global Ratings, Eaton Partners, Broker-dealer, S&P, SF, Bookkeeping

ST. LOUIS, April 02, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced that S&P Global Ratings (S&P) has raised its long-term rating on Stifel, reflecting sound credit and interest rate risk management.

Key Points: 
  • ST. LOUIS, April 02, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced that S&P Global Ratings (S&P) has raised its long-term rating on Stifel, reflecting sound credit and interest rate risk management.
  • Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries.
  • Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited.
  • Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions.

Par Pacific Announces Expected Term Loan Repricing

Retrieved on: 
Giovedì, Marzo 28, 2024
Term loan, S&P, Par Pacific Holdings, Documentation, Term

HOUSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced it expects to reprice and allocate its existing term loan credit agreement due 2030 (the “Term Loan Facility”).

Key Points: 
  • HOUSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced it expects to reprice and allocate its existing term loan credit agreement due 2030 (the “Term Loan Facility”).
  • In addition, the amendment will eliminate the Term SOFR Adjustment of 10 basis points with respect to loans under the Term Loan Facility.
  • The amendment provides that if Par Pacific receives a further ratings upgrade from S&P, the annual interest rates under the Term Loan Facility will be reduced by an additional 0.25%.
  • “Our strong operating performance and record financial results over the past year have enabled us to reprice our term loan facility on improved terms,” said Shawn Flores, Chief Financial Officer of Par Pacific.