Structured finance

Axion Completes the Initial Tranche of $8 Million Under the Investment Agreement

Friday, June 11, 2021 - 10:52pm

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") is pleased to announce that it has completed the initial tranche of C$8,000,000 (the "Initial Tranche") under the convertible debenture investment agreement (the "Investment Agreement") that the Company entered into with KUAM (Hong Kong) Investment 01 Ltd. ("KUAM") for up to C$20 million by way of unsecured convertible debentures.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - June 11, 2021) - Axion Ventures Inc. (TSXV: AXV) (OTC Pink: AXNVF) ("Axion" or the "Company") is pleased to announce that it has completed the initial tranche of C$8,000,000 (the "Initial Tranche") under the convertible debenture investment agreement (the "Investment Agreement") that the Company entered into with KUAM (Hong Kong) Investment 01 Ltd. ("KUAM") for up to C$20 million by way of unsecured convertible debentures.
  • If KUAM converts the full amount of the Debenture, KUAM will be entitled to receive 40,000,000 common shares of the Company.
  • The Debenture and all securities of the Company issued pursuant to the closing of the Initial Tranche will be subject to a four-month hold period.
  • The Initial Tranche is the first draw-down pursuant to the Investment Agreement, which provides for further tranches for up to a total of C$20 million.

Moody’s Analytics to Provide CMBS Cash Flow Data for Citi Velocity Platform

Friday, June 11, 2021 - 3:49pm

Moodys Analytics and Citi announced today that Moodys Analytics will provide data and cash flow analytics for commercial mortgage-backed securities (CMBS) on the Citi Velocity platform.

Key Points: 
  • Moodys Analytics and Citi announced today that Moodys Analytics will provide data and cash flow analytics for commercial mortgage-backed securities (CMBS) on the Citi Velocity platform.
  • The collaboration will allow all Citi Velocity users to access up-to-date and in-depth data and analysis of CMBS deals and tranches from Moodys Analytics.
  • View the full release here: https://www.businesswire.com/news/home/20210611005336/en/
    The addition of CMBS cash flow data expands a collaboration announced in 2018 for Moodys Analytics to provide CLO data on the Citi Velocity platform.
  • The analytical capabilities are powered by Moodys Analytics Structured Finance Portal , a powerful data and analytics tool.

KBRA Assigns Preliminary Ratings to Mosaic Solar Loan Trust 2021-2

Thursday, June 10, 2021 - 9:55pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Mosaic Solar Loan Trust 2021-2 (Mosaic 2021-2), an asset-backed securitization collateralized by a pool of residential solar loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Mosaic Solar Loan Trust 2021-2 (Mosaic 2021-2), an asset-backed securitization collateralized by a pool of residential solar loans.
  • The collateral pool of Mosaic 2021-2 will include approximately $218.2 million of residential solar loans, which comprises of approximately $120.0 million in loans at closing and $98.2 million in additional prefunded solar loans.
  • The preliminary ratings reflect the initial credit enhancement levels ranging from 51.97% for the Class A notes to 12.14% for the Class D notes.
  • Solar Mosaic, Inc. (Mosaic or the Company) is a California-based specialty finance company focused on originating and servicing consumer loans used for the purchase of residential solar systems.

PennyMac Mortgage Investment Trust Announces Update for Investor Day on June 17, 2021

Thursday, June 10, 2021 - 9:30pm

PennyMac Mortgage Investment Trust (NYSE: PMT) today announced an update regarding its combined virtual Investor Day with PennyMac Financial Services, Inc. (NYSE: PFSI) on Thursday, June 17, 2021.

Key Points: 
  • PennyMac Mortgage Investment Trust (NYSE: PMT) today announced an update regarding its combined virtual Investor Day with PennyMac Financial Services, Inc. (NYSE: PFSI) on Thursday, June 17, 2021.
  • Registration for the event is now open and available on the Companys investor relations website at www.PennyMac-REIT.com .
  • PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets.
  • Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com .

Paul Staples Joins Academy Securities as Director of CMBS Sales & Trading

Thursday, June 10, 2021 - 6:25pm

Academy Securities, a registered broker-dealer, certified Disabled Veteran Business Enterprise (DVBE), and Minority Business Enterprise (MBE), today announced the addition of Paul Staples as Director of CMBS Sales & Trading.

Key Points: 
  • Academy Securities, a registered broker-dealer, certified Disabled Veteran Business Enterprise (DVBE), and Minority Business Enterprise (MBE), today announced the addition of Paul Staples as Director of CMBS Sales & Trading.
  • He was the Head of CMBS Credit Trading at Citigroup Global Markets where he worked from 2004 until 2014, focusing on commercial real estate loan originations, CMBS primary issuance, and CMBS secondary trading/market-making.
  • Academy is thrilled to expand our Sales & Trading team with the addition of Paul Staples, stated Academys Chairman and CEO Chance Mims, His CMBS expertise will be extremely valuable to our clients.
  • Staples commented on joining Academy Securities: Academy is a standout firm and its an honor to be part of the team.

Amundi Physical Metals plc: UK Final Terms

Thursday, June 10, 2021 - 4:05pm

The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.

Key Points: 
  • The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.
  • The Issuer, under the Programme, may only issue ETC Securities to authorised participants appointed as such (each, an "Authorised Participant").
  • Each ETC Security relates to a specific amount in weight of Gold, specified in the Final Terms, known as the "Metal Entitlement".
  • Payment of any Early Redemption Amount or the Final Redemption Amount is subject at all times to the limited recourse provisions.

KBRA Assigns Preliminary Ratings to Progress Residential 2021-SFR5

Wednesday, June 9, 2021 - 11:14pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to nine classes of Progress Residential 2021-SFR5 (Progress 2021-SFR5) single-family rental pass-through certificates.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to nine classes of Progress Residential 2021-SFR5 (Progress 2021-SFR5) single-family rental pass-through certificates.
  • The subject transaction will be the fifteenth KBRA-rated securitization issued by Progress Residential.
  • The underlying single-family rental properties are located in or near 22 Core Based Statistical Areas (CBSAs) across 10 states.
  • To determine loss given default, KBRA assumed the underlying collateral properties would be liquidated in the residential property market.

Ellington Residential Mortgage REIT Increases Common Dividend

Wednesday, June 9, 2021 - 10:53pm

Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that its Board of Trustees has declared a dividend for the second quarter of 2021 of $0.30 per share, payable on July 26, 2021, to common shareholders of record as of June 30, 2021.

Key Points: 
  • Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that its Board of Trustees has declared a dividend for the second quarter of 2021 of $0.30 per share, payable on July 26, 2021, to common shareholders of record as of June 30, 2021.
  • This dividend represents an increase of more than 7% as compared to the Company's previously declared common dividend.
  • Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored enterprise.
  • Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.

KBRA Assigns Preliminary Ratings to BANK 2021-BNK34

Wednesday, June 9, 2021 - 5:10pm

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 38 classes of BANK 2021-BNK34, a $1.0 billion CMBS conduit transaction collateralized by 56 commercial mortgage loans secured by 71 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 38 classes of BANK 2021-BNK34, a $1.0 billion CMBS conduit transaction collateralized by 56 commercial mortgage loans secured by 71 properties.
  • The collateral properties are located across 31 MSAs, the largest three of which are New York (28.2%), Washington DC (21.7%), and Pittsburgh (6.8%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 43.6% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

Ellington Financial Declares Common Dividend

Monday, June 7, 2021 - 9:10pm

Ellington Financial Inc. (NYSE: EFC) (the "Company") today announced that its Board of Directors has declared a monthly dividend of $0.15 per common share, payable on July 26, 2021 to stockholders of record as of June 30, 2021.

Key Points: 
  • Ellington Financial Inc. (NYSE: EFC) (the "Company") today announced that its Board of Directors has declared a monthly dividend of $0.15 per common share, payable on July 26, 2021 to stockholders of record as of June 30, 2021.
  • This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
  • Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments.
  • Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.