Debt

AM Best Assigns Issue Credit Ratings to The Allstate Corporation’s New Senior Unsecured Notes

Tuesday, November 24, 2020 - 3:11pm

AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of a to the recently issued $600 million 0.750% senior unsecured notes due 2025 and the $600 million 1.450% senior unsecured notes due 2030 of The Allstate Corporation (Allstate) (headquartered in Northbrook, IL).

Key Points: 
  • AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of a to the recently issued $600 million 0.750% senior unsecured notes due 2025 and the $600 million 1.450% senior unsecured notes due 2030 of The Allstate Corporation (Allstate) (headquartered in Northbrook, IL).
  • Following the debt issuance, AM Best expects Allstates financial leverage and interest coverage metrics to remain within the guidelines for its current ratings.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases .

Bad Credit Loan Provider Earns Top Award from TopConsumerReviews.com

Tuesday, November 24, 2020 - 3:00pm

For people with bad credit typically, with scores lower than 600 - getting a loan can feel like a paradox.

Key Points: 
  • For people with bad credit typically, with scores lower than 600 - getting a loan can feel like a paradox.
  • "Upstart takes a unique approach to Bad Credit Loans," explained Brian Dolezal of TopConsumerReviews.com, LLC.
  • To find out more about Upstart and other sources of Bad Credit Loans, including reviews and comparison rankings, please visit the Bad Credit Loans category of TopConsumerReviews.com at https://www.topconsumerreviews.com/bad-credit-loans/ .
  • From Bad Credit Loans to Debt Relief and Personal Loans, TopConsumerReviews.com delivers in-depth product evaluations in order to make purchasing decisions easier.

The Coalition of Argentine Provincial Bondholders Announces Statement of Principles and Calls for Coordinated Action on Debt Defaults

Tuesday, November 24, 2020 - 2:37pm

Such financing has promoted economic growth and inclusion and enhanced the productive capacity of provincial borrowers.

Key Points: 
  • Such financing has promoted economic growth and inclusion and enhanced the productive capacity of provincial borrowers.
  • Many of these provinces have historically maintained low levels of indebtedness and enjoyed access to debt capital markets based on their responsible approach to debt management, including during periods in which the national government has been in default.
  • Today, however, some provinces have opportunistically sought to escape these obligations through unilateral and opportunistic defaults.
  • Retail and institutional holders of Argentine provincial bonds are invited to contact the CAPB ( info@arg-prov-coalition.org ) or visit its website at www.arg-prov-coalition.org for up-to-date information and additional resources on specific processes and restructuring proposals.

The Coalition of Argentine Provincial Bondholders Announces Statement of Principles and Calls for Coordinated Action on Debt Defaults

Tuesday, November 24, 2020 - 2:22pm

Such financing has promoted economic growth and inclusion and enhanced the productive capacity of provincial borrowers.

Key Points: 
  • Such financing has promoted economic growth and inclusion and enhanced the productive capacity of provincial borrowers.
  • Many of these provinces have historically maintained low levels of indebtedness and enjoyed access to debt capital markets based on their responsible approach to debt management, including during periods in which the national government has been in default.
  • Today, however, some provinces have opportunistically sought to escape these obligations through unilateral and opportunistic defaults.
  • Retail and institutional holders of Argentine provincial bonds are invited to contact the CAPB ( info@arg-prov-coalition.org ) or visit its website at www.arg-prov-coalition.org for up-to-date information and additional resources on specific processes and restructuring proposals.

SunPower Announces Cash Tender Offer for Outstanding 0.875% Convertible Debentures due 2021

Tuesday, November 24, 2020 - 2:00pm

SAN JOSE, Calif., Nov. 24, 2020 /PRNewswire/ -- SunPower Corporation (NASDAQ:SPWR) (the "Company" or"SunPower") today announced a tender offer (the "Offer") to purchase any and all of its outstanding 0.875% Convertible Senior Debentures due 2021 (CUSIP No.

Key Points: 
  • SAN JOSE, Calif., Nov. 24, 2020 /PRNewswire/ -- SunPower Corporation (NASDAQ:SPWR) (the "Company" or"SunPower") today announced a tender offer (the "Offer") to purchase any and all of its outstanding 0.875% Convertible Senior Debentures due 2021 (CUSIP No.
  • 867652 AJ8) (the "Convertible Debentures").As of November 23, 2020, there were $301,583,000 aggregate principal amount of the Convertible Debentures outstanding.
  • The complete terms and conditions of the Offer are set forth in the Offer to Purchase and Letter of Transmittal that are being sent to holders of the Convertible Debentures.
  • Holders must make their own decision as to whether to tender their Convertible Debentures and, if so, the principal amount of Convertible Debentures to tender.

Business Reporter: Debt collection during the pandemic

Tuesday, November 24, 2020 - 12:31pm

"Because of the pandemic, non-performing loan ratios are rising massively, putting major stress on balance sheets.

Key Points: 
  • "Because of the pandemic, non-performing loan ratios are rising massively, putting major stress on balance sheets.
  • Along with this rise in bad debt, the business environment for banks has changed, with new regulatory frameworks and accounting regimes emerging around the world."
  • In addition, there is a need to manage customer expectations and experience in all channels and 24/7.
  • They can be used alongside configurable workflows and omnichannel communications to generate better business outcomes including substantial reductions in bad debt provision on balance sheets.

National Debt Relief Delivers Empathetic Customer Experiences By Leveraging Contact Center AI from Observe.AI

Tuesday, November 24, 2020 - 12:15pm

Observe.AI, a leader in Contact Center AI, today announced that its platform has enabled National Debt Relief (NDR) to improve customer experience, automate quality assurance, and provide better coaching to its front-line agents.

Key Points: 
  • Observe.AI, a leader in Contact Center AI, today announced that its platform has enabled National Debt Relief (NDR) to improve customer experience, automate quality assurance, and provide better coaching to its front-line agents.
  • NDR was founded in 2009 with a goal of helping people resolve debt problems without enduring bankruptcy.
  • Observe.AI, a leader in Contact Center AI, transforms customer experiences and improves agent performance by helping top brands analyze 100% of calls and streamline quality assurance workflows.
  • National Debt Relief is one of the countrys largest and one of the most reputable debt relief companies.

Bill.com to Offer $750.0 Million of Convertible Senior Notes due 2025

Monday, November 23, 2020 - 10:12pm

Bill.com Holdings, Inc. (NYSE: BILL) (Bill.com) today announced that it proposes to offer $750.0 million aggregate principal amount of convertible senior notes due 2025 (the notes), subject to market conditions and other factors.

Key Points: 
  • Bill.com Holdings, Inc. (NYSE: BILL) (Bill.com) today announced that it proposes to offer $750.0 million aggregate principal amount of convertible senior notes due 2025 (the notes), subject to market conditions and other factors.
  • The notes will be senior, unsecured obligations of Bill.com, and interest will be payable semiannually in arrears.
  • The notes will mature on December 1, 2025, unless earlier converted, redeemed or repurchased in accordance with the terms of the notes.
  • The interest rate, conversion rate, offering price and other terms are to be determined upon pricing of the notes.

Liberty Broadband Corporation Closes Private Offering of $825 Million of 1.25% Exchangeable Senior Debentures due 2050

Monday, November 23, 2020 - 9:15pm

A total of approximately 916,657 shares of Charter Class A common stock are attributable to the Debentures.

Key Points: 
  • A total of approximately 916,657 shares of Charter Class A common stock are attributable to the Debentures.
  • The Debentures may be redeemed by Liberty Broadband, in whole or in part, on or after October 5, 2023.
  • Holders of Debentures also have the right to require Liberty Broadband to purchase their Debentures on October 5, 2023.
  • Liberty Broadband intends to use the net proceeds of the offering for general corporate purposes, which may include the repayment of indebtedness and repurchases of shares of Liberty Broadband common stock.

IOU Financial Inc. Reports Third Quarter 2020 Financial Results

Monday, November 23, 2020 - 1:30pm

MONTRAL, Nov. 23,2020 /PRNewswire/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSX-V: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the three and nine-month period ended September 30, 2020.

Key Points: 
  • MONTRAL, Nov. 23,2020 /PRNewswire/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSX-V: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the three and nine-month period ended September 30, 2020.
  • In Q1 2020, the Company originated US$38.1 million in loans and then hit low ofUS$9.2 millioninQ2 2020 due to the COVID-19 pandemic.
  • However, in Q3 2020, loan originations increased to US$18.4 million as IOU gradually resumed lending to more businesses and geographical areas in the US.
  • IOU closed on its third quarter ended September 30, 2020 with adjusted net earnings of $1.7 million compared to adjusted net earnings of $0.8 million for the third quarter ended September 30, 2019.