Credit

VEON Pays Back Outstanding Balance and Cancels its Revolving Credit Facility

Retrieved on: 
Thursday, March 28, 2024
RCF, VEON, Euronext Amsterdam, Credit

Amsterdam, 28 March 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), announces that it has repaid in full the outstanding balance of USD 805 million (principal, excluding accrued interest) under its revolving credit facility (“RCF”) and cancelled the RCF.

Key Points: 
  • Amsterdam, 28 March 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), announces that it has repaid in full the outstanding balance of USD 805 million (principal, excluding accrued interest) under its revolving credit facility (“RCF”) and cancelled the RCF.
  • The repayment of the outstanding amount and the cancellation of the RCF will reduce VEON’s interest expenses, in line with our effective cash and balance sheet management practices.
  • Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No.
  • 596/2014.

Kane Biotech Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Tuesday, March 26, 2024
Diabetic foot, Financial statement, PIN, Ulcer, Symposium, Sale, KNE, Pivot, Credit, Leg, SAWC, US FDA, Patent, FDA, Government, Food

WINNIPEG, Manitoba, March 26, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (the “Company” or “Kane Biotech”) today announces its fourth quarter and full year 2023 financial results.

Key Points: 
  • WINNIPEG, Manitoba, March 26, 2024 (GLOBE NEWSWIRE) -- Kane Biotech Inc. (TSX- V:KNE; OTCQB:KNBIF) (the “Company” or “Kane Biotech”) today announces its fourth quarter and full year 2023 financial results.
  • On December 20, 2023, Kane Biotech announced that it received a non-binding offer for its interest in STEM Animal Health.
  • Gross profit for the fourth quarter of 2023 was $398,234, an increase of 24% compared to $320,653 for the fourth quarter ended December 31, 2022.
  • Loss for the fourth quarter of 2023 was ($1,611,894), an increase of 92% compared to ($838,150) for the quarter ended December 31, 2022.

Hillman Successfully Reprices Senior Term Loan Lowering Interest Expense

Retrieved on: 
Tuesday, March 26, 2024
S&P, Term loan, Fitch, Credit

CINCINNATI, March 26, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. ( Nasdaq: HLMN ) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, successfully repriced its existing $752 million Term Loan due July 14, 2028.

Key Points: 
  • CINCINNATI, March 26, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. ( Nasdaq: HLMN ) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, successfully repriced its existing $752 million Term Loan due July 14, 2028.
  • The repricing reduces Hillman’s interest rate margin by 25 basis points to SOFR + 250 basis point and successfully removes the Credit Spread Adjustment (“CSA”) of 11 basis points, based on current leverage and elections.
  • The expected annualized interest savings are approximately $2.6 million, before one-time fees of approximately $1.4 million.
  • During December 2023, Hillman entered into new swap agreements fixing $360 million of the term note at approximately 3.69 percent plus the interest rate spread.

Lender Compliance Technologies Announces Partnership with AKUVO

Retrieved on: 
Tuesday, April 9, 2024
Recreational Vehicles, Software, Sports, Powerboating, Professional Services, Fintech, General Automotive, Technology, Aftermarket, Automotive, Artificial Intelligence, Insurance, Finance, NCUA, Partnership, Credit, LCT, GAP

Lender Compliance Technologies, an emerging leader in compliance solutions for managing finance and insurance (F&I) product refunds, is proud to announce a new partnership with AKUVO, a technology organization that specializes in collections and credit risk.

Key Points: 
  • Lender Compliance Technologies, an emerging leader in compliance solutions for managing finance and insurance (F&I) product refunds, is proud to announce a new partnership with AKUVO, a technology organization that specializes in collections and credit risk.
  • Specifically, regulators want to ensure borrowers are refunded when F&I products are cancelled due to repossessions, early payoffs and total losses.
  • “We’re thrilled to add value to the AKUVO Platform with LCT’s regulatory solution,” said Mike Ruggiero, AKUVO’s SVP of Relationships.
  • “With this integration, requesting cancellations and refunds will become a seamless part of our customers’ collection process.”

Planet Home Lending to Use FICO Score 10 T for Deeper Insights into Mortgage Origination and Servicing Credit Performance

Retrieved on: 
Tuesday, April 9, 2024
Software, Data Analytics, Finance, Banking, Data Management, Professional Services, Technology, Fintech, 2022–23 Feyenoord season, Capital market, Organization, Government, Growth, Mortgage assumption, Credit

Planet will also employ FICO Score 10 T to further enhance retention and recapture analysis.

Key Points: 
  • Planet will also employ FICO Score 10 T to further enhance retention and recapture analysis.
  • Lenders including Cardinal Financial , Primis Mortgage , Premier Lending and others have recently adopted the model for non-conforming mortgages.
  • FICO Score 10 T can help lenders better manage credit risk and lower default rates while extending competitive credit offers to consumers.
  • “Planet’s use of FICO Score 10 T affirms its position as a forward-looking industry leader,” said Joe Zeibert, vice president of Mortgage and Capital Markets at FICO.

AM Best Affirms Credit Ratings of Momentum Life Limited

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Insurance, Finance, Momentum, ERM, Growth, Risk management, Communication, Average cost, ALL, News, Acquisition, Credit, AM Best, Good

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Momentum Life Limited (Momentum Life) (New Zealand).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Momentum Life Limited (Momentum Life) (New Zealand).
  • The ratings reflect Momentum Life’s balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
  • AM Best considers Momentum Life’s operating performance to be adequate with a five-year average return-on-equity ratio of 5.2% (as calculated by AM Best).
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

Intel Unleashes Enterprise AI with Gaudi 3, AI Open Systems Strategy and New Customer Wins

Retrieved on: 
Tuesday, April 9, 2024
Technology, Semiconductor, Software, Networks, Internet, Hardware, Electronic Design Automation, Data Management, Consumer Electronics, Artificial Intelligence, Cloud, UEC, Google Cloud, Bosch, Algorithm, GPU, Face, Ultra, CtrlS, LLM, DataStax, FP16, Xeon, Silicon, SGX, Original equipment manufacturer, Cohesity, H100, Anomaly, Advent International, Vision, Fermentation, TERA, Kx Systems, Memory, RAG, Running, SAP, Cancer, Food, IBM, VMware, Nvidia, Credit, Dell Technologies, SAM, NPU, Red Hat, HPE, Vision transformer, Intel, Motivation, Infosys, Trust, MinIO, Supermicro, CLIP, TEE, BF16, Workflow, Data center, Ecosystem, Multimedia, MariaDB

The Intel Gaudi 3 AI accelerator will power AI systems with up to tens of thousands of accelerators connected through the common standard of Ethernet.

Key Points: 
  • The Intel Gaudi 3 AI accelerator will power AI systems with up to tens of thousands of accelerators connected through the common standard of Ethernet.
  • Intel Gaudi 3 promises 4x more AI compute for BF16 and a 1.5x increase in memory bandwidth over its predecessor.
  • Intel outlined its strategy for open scalable AI systems, including hardware, software, frameworks and tools.
  • In addition to the Intel Gaudi 3 accelerator, Intel provided updates on its next-generation products and services across all segments of enterprise AI.

Saver's Match: A 'Force Multiplier' in the Battle to Improve Retirement Readiness

Retrieved on: 
Tuesday, April 9, 2024
EBRI, Motivation, Retirement, African Americans, Research, Credit, New Year's Day, Employee Benefit Research Institute, Hispanic and Latino Americans, Health insurance

CHARLOTTE, N.C., April 9, 2024 /PRNewswire/ -- Key findings from new research indicates that the Saver's Match Program holds strong potential to be a "force multiplier" in the battle to help America's under-saved and under-served workers improve their prospects for a secure retirement in at least three measurable ways. These include stimulating more savings through federal matching contributions, incentivizing more contributions from existing savers, and boosting participation in the retirement system from non-savers.

Key Points: 
  • These include stimulating more savings through federal matching contributions, incentivizing more contributions from existing savers, and boosting participation in the retirement system from non-savers.
  • This is one of the key findings of a new study undertaken by Retirement Clearinghouse, LLC and Boston Research Technologies , "How the Saver's Match Could Promote Financial Inclusion: A Survey-Driven Analysis of the Saver's Match Program."
  • In addition, the survey found Black and Hispanic savers would benefit from the Saver's Match Program at higher-than-average rates.
  • However, these minority savers have lower retirement savings account balances and lower household incomes than their White counterparts.

Industry Vet David Germann to Steer Sales & Marketing for CU LIFT Fund

Retrieved on: 
Tuesday, April 9, 2024
Marketing, Credit, CUSO, Credit union

AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- CU LIFT Fund, the funding-as-a-service CUSO committed to helping credit unions grow their auto loan portfolios, is pleased to announce the appointment of David Germann as Vice President of Sales and Marketing. Germann will drive the CUSO's go-to-market strategy as it takes hold across the industry. He has an extensive career in retail banking and was most recently the Chief Lending Officer at $1.5 billion Credit Union of America, where he drove the credit union to become the top auto lender in the entire state of Kansas.

Key Points: 
  • AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- CU LIFT Fund , the funding-as-a-service CUSO committed to helping credit unions grow their auto loan portfolios, is pleased to announce the appointment of David Germann as Vice President of Sales and Marketing.
  • "I am most excited about the valuable insights that David brings to our credit union clients," said CU LIFT Fund President Paul Rindone.
  • We are fortunate to have someone of David's character and experience at CU LIFT Fund."
  • I'm confident David's impact on our CUSO will extend far beyond the sales and marketing realm."

Introducing Finley's Verification Suite, A New Standard for Accuracy, Automation, and Efficiency in Asset-Based Lending

Retrieved on: 
Monday, April 8, 2024
SAN, Multimedia, Automation, Investment, ABL, Credit

SAN FRANCISCO, April 8, 2024 /PRNewswire/ --  Today, Finley, the leading debt capital management platform for borrowers and asset managers, announced the launch of the Finley Verification Suite, a set of capabilities that enables lenders in asset-backed lending (ABL) arrangements to verify the accuracy of borrower asset data and calculations.

Key Points: 
  • Finley, a debt capital software company, announces a Verification Suite for private credit lenders.
  • "Today's asset managers tend to rely on spot checks or manual review to make sure that debt transactions are in line with credit agreements.
  • But that leaves an unacceptable amount of room for error," said Finley co-founder and CEO Jeremy Tsui.
  • "Finley's Verification Suite automatically runs thousands of checks on borrower data as soon as it arrives.