Letter of credit

Chemed Reports Fourth-Quarter 2023 Results

Retrieved on: 
Tuesday, February 27, 2024
Commercial Building & Real Estate, Construction & Property, Other Retail, Building Systems, Managed Care, General Health, Health, Other Construction & Property, Retail, Residential Building & Real Estate, Roto-Rooter, Letter, Share repurchase, Table, Calendar, Adjustment, ADC, Retention, GAAP, Medicare, VITAS, Webcast, Patient, Public expenditure, Contra, Letter of credit, EPS, Health insurance

Chemed Corporation (Chemed) (NYSE: CHE), which operates VITAS Healthcare Corporation (VITAS), one of the nation’s largest providers of end-of-life care, and Roto-Rooter, the nation’s largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its fourth quarter ended December 31, 2023, versus the comparable prior-year period.

Key Points: 
  • Chemed Corporation (Chemed) (NYSE: CHE), which operates VITAS Healthcare Corporation (VITAS), one of the nation’s largest providers of end-of-life care, and Roto-Rooter, the nation’s largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its fourth quarter ended December 31, 2023, versus the comparable prior-year period.
  • Chemed uses certain non-GAAP metrics such as EBITDA, adjusted EBITDA, adjusted net income and adjusted diluted earnings per share, to provide additional context and perspective to reported operational results.
  • As of December 31, 2023, Chemed had total cash and cash equivalents of $264.0 million and no current or long-term debt.
  • Chemed’s 2023 adjusted earnings per diluted share was $20.30, including $1.04 per share for costs associated with the 2023 portion of the Retention Program.

Greenalia Secures $200 Million of 3-Year Credit Facilities

Retrieved on: 
Friday, February 16, 2024
CFO, Holland & Knight, Growth, Creditor, Facility, Bookrunner, Letter of credit, IPB, Trust, State, Counsel, Wind, PEI, Partnership, Renewable energy

NEW YORK, Feb. 16, 2024 /PRNewswire/ -- Greenalia S.A. (the "Company" or "Greenalia"), a leading Spanish developer of renewable power projects, today announced the close of $200 million of three-year credit facilities to support the development of its solar and wind project pipeline in the U.S. Greenalia Power US Advanced II, LLC ("Greenalia US" or the "Borrower") is a subsidiary of Greenalia that acquires, develops, constructs and operates utility-scale solar, wind and energy storage projects in the U.S.

Key Points: 
  • The Facilities are the first for Greenalia in the North American market and are a testament to Greenalia's rapid growth in the United States.
  • Proceeds from the Facilities will enable Greenalia US to finance project equipment, as well as other development and construction expenses, helping to accelerate the development of its portfolio.
  • This innovative financing will enable Greenalia to scale up their US business across multiple technologies.
  • This tailored structure, combining both bank and private credit capital, is poised to significantly advance Greenalia's project pipeline in the coming years," said Schuyler Fabian, Partner at PEI Global Partners ("PEI").

Bird Increases Monthly Dividend 30.2% On Outlook For 2024 Revenue And Earnings Growth And Margin Expansion

Retrieved on: 
Tuesday, December 12, 2023
Letter of credit, TSX, Growth, Toronto Stock Exchange, Legislation, Letter, Bank

The dividend increase follows the Board’s approval of the 2024 annual business plan, which anticipates continued accretion in earnings per share and EBITDA through 2024.

Key Points: 
  • The dividend increase follows the Board’s approval of the 2024 annual business plan, which anticipates continued accretion in earnings per share and EBITDA through 2024.
  • The increased monthly dividend will be $0.0467 per share, corresponding to an annual dividend rate of $0.56 per share.
  • "The dividend increase approved by the Board reflects the Company’s outlook for significant further improvements in earnings and cash flow in 2024 over 2023.
  • Together with the Company’s robust cash flow profile, Bird has a solid foundation for continued success and growth.

Twists and Turns in the Fronting Market - What's Next?

Retrieved on: 
Tuesday, November 7, 2023
Conning, Research, Insurance, Sale, LOC, Fraud, News, Growth, MGA, Letter of credit, Management

HARTFORD, Conn., Nov. 7, 2023 /PRNewswire/ -- The fronting market has been on a roller coaster in 2023.

Key Points: 
  • HARTFORD, Conn., Nov. 7, 2023 /PRNewswire/ -- The fronting market has been on a roller coaster in 2023.
  • This market was rocked by discovery in July of a massive fraud from Vesttoo-related Letters of Credit.
  • Meanwhile, several new front company formations were announced, and the market has continued its rapid growth through the first half 2023.
  • The Conning report, " As the Fronting World Turns: Recent Developments and Review of Midyear Results " analyzes the major developments over the past few months and provides implications for the future of this market.

Chemed Reports Third-Quarter 2023 Results – Increases Full Year Guidance

Retrieved on: 
Wednesday, October 25, 2023
Commercial Building & Real Estate, Construction & Property, Other Retail, Building Systems, Managed Care, General Health, Health, Other Construction & Property, Retail, Residential Building & Real Estate, Credit agreements in South Africa, ET, NYSE, Roto-Rooter, Medicare, Public expenditure, SOFR, EBITDA, Share repurchase, GAAP, Contra, ADC, EPS, VITAS, Webcast, Retention, Table, Letter of credit, Patient, Calendar, Letter, Pharmaceutical industry, Bookkeeping, Rare-earth element, Reinsurance, Bank, Health insurance, Video game, Adjustment, Hemed, Credit

Starting with the September 30, 2023 quarter, Chemed is no longer excluding the cost of the Retention Program when presenting non-GAAP operating metrics in current or prior periods.

Key Points: 
  • Starting with the September 30, 2023 quarter, Chemed is no longer excluding the cost of the Retention Program when presenting non-GAAP operating metrics in current or prior periods.
  • As of September 30, 2023, Chemed had total cash and cash equivalents of $173 million and no current or long-term debt.
  • This guidance includes $1.18 per share of after-tax costs related to the 2023 portion of the Retention Program.
  • This revised 2023 guidance compares to previous guidance, as recast to no longer exclude costs associated with the Retention Program, of $18.72 to $18.92, including.

Hallador Energy Company Reports Record Net Income and Adjusted EBITDA for First Half of 2023; Leverage Ratio moves below 1.0X

Retrieved on: 
Monday, August 7, 2023
Coal, Merom Generating Station, EBITDA, Letter of credit, Credit, Merom, Bank

Our team was also successful in closing a $140 million credit agreement, increasing our liquidity to $56.9 million as of June 30, 2023.

Key Points: 
  • Our team was also successful in closing a $140 million credit agreement, increasing our liquidity to $56.9 million as of June 30, 2023.
  • Hallador Power completed its obligation of selling 100% of its output to Merom’s original owner and is now available to sell power to other markets."
  • The Company shipped 1.7 million tons for the quarter, with approximately 0.3 million tons shipped to the Merom Power Plant.
  • The Company closed on a $140 million credit facility on August 2, 2023 extending the maturity to 2026.

Obligo Announces Recipients of Its Third Annual Renter's Trust Awards

Retrieved on: 
Tuesday, December 20, 2022
Senior, City centre, Civic Trust Awards, Wells Fargo, Credit, Landmark Communications, Inc. v. Virginia, Letter of credit, Renting

NEW YORK, Dec. 20, 2022 /PRNewswire/ -- Obligo, the fintech company that builds trust between renters and landlords with its holistic suite of security deposit solutions, today announced the recipients of its third annual Renter's Trust Awards.

Key Points: 
  • "Through Obligo, we have been able to significantly reduce the administrative burden for both applicants and ourselves.
  • "We're honored to present our Renter's Trust Awards to this exceptional list of partners," said Roey Dor, CEO at Obligo.
  • For statistical quality, only operators with over 18 months of activity on the Obligo platform were considered.
  • Obligo harnesses financial technology to build trust between renters and landlords, making the move-in and move-out process as simple as checking in and out of a hotel.

FEDERAL HOME LOAN BANK OF CINCINNATI ANNOUNCES 2022 AFFORDABLE HOUSING PROGRAM AWARD WINNERS

Retrieved on: 
Wednesday, November 23, 2022
Insurance, FHLB, AHP, Housing, Federal Home Loan Banks, Letter of credit, AA, Welcome Home, Veteran, Cincinnati, Organization, Multimedia, Advanced Technology Vehicles Manufacturing Loan Program, Letter, Bank

CINCINNATI, Nov. 22, 2022 /PRNewswire/ -- Federal Home Loan Bank of Cincinnati President and CEO Andrew S. Howell announced the winners of 48 Affordable Housing Program (AHP) grants totaling nearly $12.1 million. Awarded to 36 member financial institutions, grant funds will be used to help create 1,537 units of affordable housing benefiting residents throughout Kentucky, Ohio, Tennessee and beyond.

Key Points: 
  • affordable housing development in Kentucky, Ohio, Tennessee and beyond
    CINCINNATI, Nov. 22, 2022 /PRNewswire/ -- Federal Home Loan Bank of Cincinnati President and CEO Andrew S. Howell announced the winners of 48 Affordable Housing Program (AHP) grants totaling nearly $12.1 million.
  • Awarded to 36 member financial institutions, grant funds will be used to help create 1,537 units of affordable housing benefiting residents throughout Kentucky, Ohio, Tennessee and beyond.
  • "Our members and the affordable housing organizations they support often share with us how important our AHP funds have been in keeping their communities resilient and ready to face the ever-changing affordable housing challenges they encounter."
  • The FHLB also funds community investment programs that help its members create affordable housing and promote community economic development.

Advanced Power Announces Close of $60 million Capital Facility

Retrieved on: 
Monday, October 24, 2022
Investment banking, Advanced Power Technologies, CIB, LCS, ERCOT, MISO, Letter, Letter of credit, Heart, CO2, PJM, Renewable energy

BOSTON, Oct. 24, 2022 /PRNewswire/ -- Advanced Power announces the close of a $60 million capital facility at its corporate level through Crédit Agricole Corporate and Investment Bank (CIB). The new line of credit enables Advanced Power to more expeditiously deliver its North American pipeline of renewables projects.

Key Points: 
  • Financing to support development of 8-gigawatt U.S. renewables pipeline
    BOSTON, Oct. 24, 2022 /PRNewswire/ -- Advanced Power announces the close of a $60 million capital facility at its corporate level through Crdit Agricole Corporate and Investment Bank (CIB).
  • The new line of credit enables Advanced Power to more expeditiously deliver its North American pipeline of renewables projects.
  • New financing enables Advanced Power to more expeditiously deliver its North American pipeline of renewables projects.
  • Advanced Power is a privately owned, global developer, manager, and owner of modern power infrastructure.

FEDERAL HOME LOAN BANK OF CINCINNATI ADDS $3 MILLION TO AFFORDABLE HOUSING PROGRAM

Retrieved on: 
Wednesday, September 21, 2022
AA, Federal Home Loan Banks, Association for Social Advancement, AHP, CEO, Letter, FHLB, Board of directors, Insurance, Board, Letter of credit, Multimedia, Housing, Bank

CINCINNATI, Sept. 21, 2022 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced a $3 million contribution to benefit affordable housing initiatives. This allocation is in addition to the FHLB's required 10 percent of net earnings set-aside to fund the organization's Affordable Housing Program (AHP).

Key Points: 
  • CINCINNATI, Sept. 21, 2022 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Board of Directors announced a $3 million contribution to benefit affordable housing initiatives.
  • This allocation is in addition to the FHLB's required 10 percent of net earnings set-aside to fund the organization's Affordable Housing Program (AHP).
  • "I'm grateful that the FHLB Board of Directors will contribute an additional $3 million to increase access to affordable housing throughout the areas we serve.
  • Donated funds will be distributed with the FHLB's 2022 Affordable Housing Program general grant fund and recipients of awards will be announced on November 17.