DBRS | Jotup

Hercules Capital Celebrates 20th Anniversary with $20.0 Billion in Cumulative Originations

Retrieved on:

onsdag, april 24, 2024

Professional Services, Finance, Capital, Woman, KBRA, DBRS, Growth, Management

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), is celebrating its 20th year of originations activity by reaching the $20.0 billion milestone in total debt commitments.

Key Points:

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), is celebrating its 20th year of originations activity by reaching the $20.0 billion milestone in total debt commitments.
Today, Hercules Capital is the largest and leading specialty financing provider to innovative venture, growth and established stage companies, having partnered with over 650 technology and life sciences portfolio companies and more than 1,000 venture capital and private equity firms.
“2024 marks our 20th year investing in the venture and growth stage asset class over which time we’ve committed more than $20.0 billion in capital, representing a remarkable milestone for our Company,” stated Scott Bluestein, chief executive officer and chief investment officer of Hercules.
As an internally managed platform, we offer solutions, strategic agility and shareholder alignment that differentiate us from the broader industry.

Hercules Capital Receives Confirmed BBB Investment Grade Rating with Revised Outlook to Positive from Morningstar DBRS

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torsdag, mars 21, 2024

Professional Services, Finance, Capital, Growth, DBRS, Ecosystem, BBB, Financial services

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Morningstar DBRS (“DBRS”) has confirmed Hercules’ investment grade credit and corporate rating of BBB with a trend revision from Stable to Positive, as well as its underlying analysis.

Key Points:

Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”), the largest and leading specialty financing provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that Morningstar DBRS (“DBRS”) has confirmed Hercules’ investment grade credit and corporate rating of BBB with a trend revision from Stable to Positive, as well as its underlying analysis.
“We are very pleased that DBRS has confirmed our BBB investment grade credit and corporate rating and revised the outlook to positive,” stated Seth Meyer, chief financial officer of Hercules.
Historical credit performance has been strong, underpinned by a well-designed risk management framework, and demonstrated solid underwriting and portfolio monitoring performance across multiple economic cycles.
The Company also has a broad, diversified funding profile and conservative regulatory leverage.

Achieve announces close of $200.6 million, AAA-rated personal loan securitization

Retrieved on:

onsdag, mars 20, 2024

Employment, SAN, Jules Kroll, FCCF, Regulation, Sale, Class D, KBRA, Morgan Stanley, ABS, CRB, ATLAS, AAA, DBRS, Barclays, Security (finance)

SAN MATEO, Calif., March 20, 2024 /PRNewswire/ -- Achieve, the leader in digital personal finance, announces the March 18 close of an offering of $200.63 million in rated notes backed by Achieve Personal Loans.

Key Points:

SAN MATEO, Calif., March 20, 2024 /PRNewswire/ -- Achieve , the leader in digital personal finance, announces the March 18 close of an offering of $200.63 million in rated notes backed by Achieve Personal Loans.
The securitization, ACHV ABS Trust 2024-1PL, includes four classes of rated notes and is backed by 10,757 unsecured consumer personal loans.
Achieve Personal Loans help individuals responsibly manage high-interest debt by consolidating revolving accounts into easy to manage, more consumer-friendly installment loans.
Cumulative issuances across all FCCF-sponsored securitizations total over $5.5 billion and total loan originations through the Achieve Personal Loans platform and Achieve Home Loans is approximately $11 billion.

TriplePoint Venture Growth BDC Corp. Announces Fourth Quarter and Fiscal Year 2023 Financial Results

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onsdag, mars 6, 2024

Professional Services, Finance, BBB, SP Plus Corporation, TPC, Investment, Veritas Technologies, Cohesity, DBRS, Financial services

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2023 and the declaration by its Board of Directors of its first quarter 2024 distribution of $0.40 per share.

Key Points:

TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company,” “TPVG,” “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2023 and the declaration by its Board of Directors of its first quarter 2024 distribution of $0.40 per share.
”Venture capital markets continued to be challenging in the fourth quarter,” said Jim Labe, chairman and chief executive officer of TPVG.
The return on average equity for the fourth quarter was 18.3% based on net investment income.
The following table shows the total portfolio investment activity for the three months and years ended December 31, 2023 and 2022:

Brookfield Corporation Update on Initiatives for 2023

Retrieved on:

fredag, december 22, 2023

BROOKFIELD, NEWS, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today released a summary of recent highlights to close out 2023, which is appended and posted on our website.

Key Points:

BROOKFIELD, NEWS, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today released a summary of recent highlights to close out 2023, which is appended and posted on our website.
All told, almost $100 billion of financings were arranged across our businesses and access to capital continues to be very strong.
Our Brookfield Corporation (BN) credit rating was upgraded to A by DBRS, and on the back of the upgrade, earlier this month we issued $700 million of 10-year debt at 6.35%.
We all wish to take this opportunity to thank you for your interest in Brookfield, and we wish you and your families all the best for 2024.

Brookfield Corporation Announces Credit Rating Upgrade to “A”

Retrieved on:

onsdag, november 22, 2023

Growth, NEWS, TSX, Insurance, DBRS, Bank

BROOKFIELD, NEWS, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) (“Brookfield”) today announced that it has received an upgrade to its senior unsecured debt rating from DBRS to “A” from A (low).

Key Points:

BROOKFIELD, NEWS, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (NYSE: BN, TSX: BN) (“Brookfield”) today announced that it has received an upgrade to its senior unsecured debt rating from DBRS to “A” from A (low).
The upgrade reflects the continued growth in the earnings and cashflows of the business, underpinned by a conservatively capitalized balance sheet.
Nicholas Goodman, President of Brookfield Corporation, stated “We are pleased with the credit rating upgrade, which reflects the strength of our franchise through cycles—including the growing scale and diversity of our business, the quality of our cashflows and our fortress balance sheet.
The upgrade is further recognition of our longstanding commitment to conservative financing principles and our differentiated perpetual capital base of $140 billion.”

Canadian Banc Corp. Announces Overnight Offering of Preferred Shares

Retrieved on:

onsdag, november 15, 2023

Sale, EST, Alberta Securities Commission, Associated Banc-Corp, TSX, National bank, DBRS, Airline, Financial adviser

TORONTO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) of the Company.

Key Points:

TORONTO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Canadian Banc Corp. (the “Company’) is pleased to announce it will undertake an offering of Preferred Shares (TSX: BK.PR.A) of the Company.
The sales period of this overnight offering will end at 9:00 a.m. EST on November 16, 2023.
Since the inception of the Company, 219 consecutive dividends have been declared for the Preferred shares.
The Company has been advised by DBRS that effective November 17, 2023, the rating on the Preferred shares will be Pfd-3 (low).

Achieve announces close of $157.5 million, AAA-rated personal loan securitization

Retrieved on:

torsdag, november 2, 2023

Sale, Jules Kroll, DBRS, Class D, Regulation, CRB, KBRA, BB, FCCF, SEC Rule 144A, AAA, BBB, ATLAS, Employment, Jefferies, SAN, Bank, Security (finance), AA

SAN MATEO, Calif., Nov. 2, 2023 /PRNewswire/ -- Achieve, the digital personal finance company, announces the Oct. 27 close of an offering of $157.52 million in rated notes backed by Consolidation Plus loans.

Key Points:

SAN MATEO, Calif., Nov. 2, 2023 /PRNewswire/ -- Achieve , the digital personal finance company, announces the Oct. 27 close of an offering of $157.52 million in rated notes backed by Consolidation Plus loans.
The securitization, ACHV ABS Trust 2023-4CP, includes five classes of rated notes and is backed by 14,141 unsecured consumer personal loans.
It is the eighth personal loan securitization from FCCF and FFAM to receive a AAA rating from DBRS Morningstar and the 10th to receive a AAA rating from Kroll Bond Rating Agency (KBRA).
Cumulative issuances across all FCCF-sponsored securitizations total over $5.3 billion and total loan originations through the Achieve Personal Loans platform and Achieve Home Loans is approximately $11 billion.

Morningstar, Inc. Reports Third-Quarter 2023 Financial Results

Retrieved on:

onsdag, oktober 25, 2023

Starting with the Company's Form 10-Q for the quarter ended Sept. 30, 2023, the Company will begin to report multiple segments.

Key Points:

Starting with the Company's Form 10-Q for the quarter ended Sept. 30, 2023, the Company will begin to report multiple segments.
The Company's quarterly shareholder letter provides more context on its quarterly results and business and can be found at shareholders.morningstar.com.
Headcount as of Sept. 30, 2023 decreased 1.3% compared to Sept. 30, 2022, and 4.6% sequentially from June 30, 2023 to 11,566.
Going forward, the Company is also evaluating how best to communicate to investors under the new segment reporting framework in future press releases reporting financial results.

Radian Announces Closing of $353 Million Mortgage Insurance-Linked Notes Transaction

Retrieved on:

torsdag, oktober 5, 2023

Commercial Building & Real Estate, Construction & Property, Insurance, Finance, Asset Management, Banking, Professional Services, Residential Building & Real Estate, NYSE, DBRS, Note, Bermuda, Lacos Land Co v. Arden Group Inc, Radian Group, RDN, ILN, BBB

Radian Group Inc. (NYSE: RDN) today announced that its wholly owned subsidiary, Radian Guaranty Inc. has obtained $353 million of fully collateralized excess of loss reinsurance coverage from Eagle Re 2023-1 Ltd. (Eagle Re).

Key Points:

Radian Group Inc. (NYSE: RDN) today announced that its wholly owned subsidiary, Radian Guaranty Inc. has obtained $353 million of fully collateralized excess of loss reinsurance coverage from Eagle Re 2023-1 Ltd. (Eagle Re).
The excess of loss reinsurance covers eligible mortgage insurance policies written by Radian Guaranty from April 1 to December 31, 2022.
Eagle Re is a newly formed Bermuda special purpose insurer and is not a subsidiary or affiliate of Radian Guaranty.
The ILNs issued by Eagle Re consist of the following four classes:
After closing, investors have the option to exchange their M-1B Notes for proportionate interests in Class M-1B-1 Notes, Class M-1B-2 Notes and Class M-1B-3 Notes (Exchangeable Notes), and the Exchangeable Notes may be exchanged for Class M-1B Notes with the same proportionate interest.