Banks

Uniti Group Inc. Announces Amendments to its Previously Announced Cash Tender Offer and Solicitation of Consents Relating to its 8.25% Senior Notes due 2023

Crimes, Criminal law, Solicitation, Bond, Citigroup, Economy of New York City, Companies, Banks
Wednesday, January 20, 2021 - 12:01am

As a result, the Offer now extends to any and all Notes outstanding.

Key Points: 
  • As a result, the Offer now extends to any and all Notes outstanding.
  • The Issuers continue to reserve the right to amend, extend or terminate the Offer in their sole discretion.
  • In connection with the Offer and Consent Solicitation, Citigroup Global Markets Inc. is acting as the dealer manager for the Offer and solicitation agent for the Consent Solicitation (collectively, the "Dealer Manager and Solicitation Agent").
  • Global Bondholder Services Corporation is serving as the information and tender agent (the "Information and Tender Agent").

Signify Health Files Registration Statement for Proposed Initial Public Offering

Corporate finance, Finance, Initial public offering, Goldman Sachs, Subprime mortgage crisis, Bookrunner, Economy of New York City, Banks
Tuesday, January 19, 2021 - 10:35pm

a leading value-based healthcare platform enabled by advanced analytics, technology and nationwide healthcare networks, today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock.

Key Points: 
  • a leading value-based healthcare platform enabled by advanced analytics, technology and nationwide healthcare networks, today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock.
  • The number of shares to be offered and the price range for the proposed offering have not yet been determined.
  • Signify Health intends to list its Class A common stock on the New York Stock Exchange (NYSE), under the ticker symbol SGFY.
  • Goldman Sachs & Co. LLC, J.P. Morgan, Barclays and Deutsche Bank Securities are acting as lead bookrunner agents for the proposed offering.

Citi Fourth Quarter 2020 Fixed Income Investor Review

Consulting, Banking, Professional services, Finance, Midtown Manhattan, Subprime mortgage crisis, Economy of New York City, CITI-FM, Companies, Banks, Citigroup
Tuesday, January 19, 2021 - 9:15pm

Mark Mason, Chief Financial Officer, and Michael Verdeschi, Treasurer, will conduct the Citigroup fourth quarter 2020 Fixed Income Investor Review at 11:00 AM (ET) on Friday, January 29, 2021.

Key Points: 

OceanFirst Financial Corp. Declares Quarterly Cash Dividend for Series A Preferred Stock

Finance, Money, OceanFirst Bank, Toms River, New Jersey, Banks, Dividend, UBS, Sun National Bank
Tuesday, January 19, 2021 - 9:01pm

RED BANK, N.J., Jan. 19, 2021 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), (the Company), announced that its Board of Directors has declared a quarterly cash dividend of $0.4375 per share for every depository share, representing 1/40th interest in the Series A Preferred Stock, payable on February 15, 2021 to stockholders of record on January 29, 2021.

Key Points: 
  • RED BANK, N.J., Jan. 19, 2021 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:OCFC), (the Company), announced that its Board of Directors has declared a quarterly cash dividend of $0.4375 per share for every depository share, representing 1/40th interest in the Series A Preferred Stock, payable on February 15, 2021 to stockholders of record on January 29, 2021.
  • OceanFirst Financial Corp.s subsidiary, OceanFirst Bank N.A., founded in 1902, is a regional bank operating throughout New Jersey, metropolitan Philadelphia and metropolitan New York City.
  • OceanFirst Bank delivers commercial and residential financing solutions, trust and asset management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.

Credit Suisse announces endowment with UNCF to fund scholarships for students attending North Carolina-based HBCUs

UNCF, Companies, Credit Suisse, Finance, Banks
Tuesday, January 19, 2021 - 5:50pm

New York, N.Y., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Credit Suisse is pleased to announce an initial commitment of USD 1.2 million to establish the Credit Suisse Scholars Program, an ongoing endowment with UNCF (United Negro College Fund) to fund scholarships for students attending historically Black colleges and universities based in North Carolina.

Key Points: 
  • New York, N.Y., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Credit Suisse is pleased to announce an initial commitment of USD 1.2 million to establish the Credit Suisse Scholars Program, an ongoing endowment with UNCF (United Negro College Fund) to fund scholarships for students attending historically Black colleges and universities based in North Carolina.
  • This is an incredibly generous gift from Credit Suisse to North Carolina residents, said Dr. Michael L. Lomax, UNCFs president and CEO.
  • Further information about Credit Suisse can be found at www.credit-suisse.com
    UNCF (United Negro College Fund) is the nations largest and most effective minority educationorganization.
  • Monique LeNoir United Negro College Fund, Inc. (UNCF) 202-810-0231 monique.lenoir@uncf.org Anna Christensen Credit Suisse 212 538 4748 anna.christensen@credit-suisse.com

Sentinel Trust Announces Transition of Leslie Kiefer Amann to Of Counsel

Equity, Legal professions, Common law, Fiduciary, Bank of America, Banks, Finance, Banking
Tuesday, January 19, 2021 - 3:15pm

HOUSTON, Jan. 19, 2021 /PRNewswire/ -- Sentinel Trust Company, LBA, a $5 billion multi-family office in Houston, is pleased to announce the transition of Chief Fiduciary Officer, Leslie Kiefer Amann, to Of Counsel.

Key Points: 
  • HOUSTON, Jan. 19, 2021 /PRNewswire/ -- Sentinel Trust Company, LBA, a $5 billion multi-family office in Houston, is pleased to announce the transition of Chief Fiduciary Officer, Leslie Kiefer Amann, to Of Counsel.
  • In 2006, Leslie joined Sentinel Trust, later becoming the firm's first Chief Fiduciary Officer.
  • She brought years of fiduciary and banking experience, including as a regional executive for Bank of America as well as Assistant General Counsel for a regional bank.
  • Prior to that, Leslie practiced law in a private practice setting, focusing on complex business litigation.

Valley Bank Announces New Hires to Manage Municipal Investment Strategy

Finance, Financial services, Banks, Primary dealers, Subprime mortgage crisis, House of Morgan, Investment banks, Mitsubishi UFJ Financial Group, Morgan Stanley, UBS, Guardian Capital Group, U.S. Bancorp
Tuesday, January 19, 2021 - 2:57pm

In this new role, Chris and Pete will be responsible for managing a municipal investment strategy on behalf of the Bank, in addition to building a more comprehensive municipal offering to the Banks customers.

Key Points: 
  • In this new role, Chris and Pete will be responsible for managing a municipal investment strategy on behalf of the Bank, in addition to building a more comprehensive municipal offering to the Banks customers.
  • Chris joins with previous experience as Managing Director Head of Municipal Investments at Advisors Asset Management.
  • He was employed at Morgan Stanley for 20 years, most recently serving as Managing Director Head of Municipal Securities for Morgan Stanley Wealth Management.
  • As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $42 billion in assets.

BlueCity CEO Recognized on INvolve’ ‘OUTstanding 100 LGBT+ Executives List’

Banks, Primary dealers, Finance, Financial services, Goldman Sachs, HSBC
Tuesday, January 19, 2021 - 1:30pm

Im delighted to be named among the Role Model Lists, which underline the amazing achievements of LGBT+ people in global business, said Ma.

Key Points: 
  • Im delighted to be named among the Role Model Lists, which underline the amazing achievements of LGBT+ people in global business, said Ma.
  • Notably, Ma became the first person from the Chinese mainland to make the LGBT+ Executives List, but hes also joined by Frank Chen, Head of Taiwan Investment Banking at Goldman Sachs and Jay Lin, CEO of Taiwan-based entertainment company Portico Media.
  • They featured among a larger group of global LGBT+ executives from companies as diverse as Dell, Google, Goldman Sachs, Bloomberg, Adidas and HSBC.
  • Business Insider named him among 2020s 100 People Transforming Business in Asia and named as a Global Thinker by the U.S. magazine Foreign Policy in 2017.

Uniti Group Inc. Announces Cash Tender Offer and Solicitation of Consents Relating to its 8.25% Senior Notes due 2023

Criminal law, Crimes, Solicitation, Citigroup, Economy of New York City, Companies, Banks
Tuesday, January 19, 2021 - 12:31pm

(3) Per $1,000 principal amount of Notes validly tendered (and not validly withdrawn) and accepted for purchase by us.

Key Points: 
  • (3) Per $1,000 principal amount of Notes validly tendered (and not validly withdrawn) and accepted for purchase by us.
  • (4) Includes the Early Tender Premium for Notes validly tendered at or prior to the Early Tender Deadline (and not validly withdrawn) and accepted for purchase by us.
  • However, the Offer is not conditioned on any minimum amount of Notes being tendered or the receipt of requisite Consents to adopt the Proposed Amendments.
  • In connection with the Offer and Consent Solicitation, Citigroup Global Markets Inc. is acting as the dealer manager for the Offer and solicitation agent for the Consent Solicitation (collectively, the "Dealer Manager and Solicitation Agent").

EBA observes an increase in the asset encumbrance ratio amidst extensive use of central bank facilities

Money, Finance, Economy, Banking, Banks, Central bank, Financial markets, Asset and liability management, Liquidity crisis
Monday, January 18, 2021 - 4:04pm

As COVID-19 spread across Europe and activity in primary markets froze, banks made extensive use of central bank liquidity facilities to build precautionary liquidity buffers.

Key Points: 
  • As COVID-19 spread across Europe and activity in primary markets froze, banks made extensive use of central bank liquidity facilities to build precautionary liquidity buffers.
  • Overview of key figures

    The extensive use of the extraordinary central bank liquidity facilities in 2020 has driven up the share of central bank funding over total sources of encumbrance.

  • In contrast, the attractive conditions of central bank facilities have led many banks to reduce their reliance on covered bonds.
  • Although the recent increase in the asset encumbrance ratio is not a concern by itself, banks capacity to further make use of central bank funding when necessary should be monitored.