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Survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets (SESFOD) - March 2024

Retrieved on:

Thursday, April 18, 2024

Survey on credit terms and

Key Points:

Survey on credit terms and
conditions in euro-denominated
securities financing and OTC
derivatives markets (SESFOD)
March 2024
The Eurosystem conducts a three-monthly qualitative survey on credit terms and
conditions in euro-denominated securities financing and over-the-counter (OTC)
derivatives markets.
The survey questions are grouped into three sections:
1.
counterparty types ? credit terms and conditions for various counterparty
types in both securities financing and OTC derivatives markets;

2.

securities financing ? financing conditions for various collateral types;

3.

non-centrally cleared OTC derivatives ? credit terms and conditions for
various derivative types.
The survey focuses on euro-denominated instruments in securities financing and
OTC derivatives markets.
For securities financing, the survey refers to the
euro-denominated securities against which financing is provided, rather than the
currency of the loan.
Reporting institutions should report on their global credit terms, so the survey is
aimed at senior credit officers responsible for maintaining an overview of the
management of credit risks.
SESFOD March 2024
2

March 2024 SESFOD results
(Review period from December 2023 to February 2024)
The March 2024 Survey on credit terms and conditions in euro-denominated
securities financing and OTC derivatives markets (SESFOD) reports qualitative
changes in credit terms between December 2023 and February 2024.
Looking at credit terms and conditions for the various types of non-centrally cleared
OTC derivative, initial margin requirements increased slightly for all derivative types.
Survey respondents reported mostly unchanged conditions as regards the maximum
amount of exposure and the maximum maturity of trades.
Moreover, they reported that the volume of valuation disputes had
declined for all derivative types except credit derivatives.
The survey asked respondents to compare credit terms
and conditions on the cut-off date for the March 2024 survey round (i.e.
Compared with the
previous year, overall terms and conditions for securities financing and OTC
derivatives transactions had eased somewhat across all counterparties, while credit
standards for funding secured against various types of collateral and non-price terms
in OTC derivatives markets were generally tighter.
Credit terms and conditions for various counterparty types in both
securities financing and OTC derivatives markets
Overall credit terms and conditions eased between December 2023 and
February 2024 (Chart A).
The overall easing of conditions masked some
heterogeneity between price and non-price terms, and across different types of
counterparty, though reported changes were relatively small.
Credit terms and conditions for various types of non-centrally
cleared OTC derivative
Initial margin requirements increased slightly for all derivative types.
Meanwhile, they reported
unchanged conditions for credit derivatives referencing sovereigns and commodities,
as well as a slight deterioration for credit derivatives referencing corporates and
structured credit products.
The survey asked respondents to compare the credit terms and conditions observed
on the cut-off date for the March 2024 survey (i.e.
Compared with the previous year, overall terms and conditions for securities
financing and OTC derivatives transactions had eased somewhat across all
counterparties.
Survey respondents reported that non-price credit terms in OTC derivatives
markets had tightened somewhat for almost all types of derivative relative to
the previous year.

Cielo Announces Closing of Second Tranche of Private Placement of Convertible Debenture Units

Retrieved on:

Friday, April 5, 2024

CALGARY, Alberta, April 05, 2024 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC; OTCQB:CWSFF) (“Cielo” or the “Company”), a renewable fuel company leveraging market ready licensed technology to produce low carbon fuel from wood by-products, is pleased to announce the closing of the second tranche (“Tranche 2”), for gross proceeds of C $1,480,000, of its previously announced non-brokered private placement offering of unsecured convertible debenture units of the Company (collectively, the "Convertible Debenture Units") at a price of C $1,000 per Convertible Debenture Unit for aggregate gross proceeds of up to C $5,000,000 (the "Private Placement"). The Company intends to continue to offer the Convertible Debenture Units on the same terms and close one or more subsequent tranches during the month of April 2024.

Key Points:

CALGARY, Alberta, April 05, 2024 (GLOBE NEWSWIRE) -- Cielo Waste Solutions Corp. (TSXV:CMC; OTCQB:CWSFF) (“Cielo” or the “Company”), a renewable fuel company leveraging market ready licensed technology to produce low carbon fuel from wood by-products, is pleased to announce the closing of the second tranche (“Tranche 2”), for gross proceeds of C $1,480,000, of its previously announced non-brokered private placement offering of unsecured convertible debenture units of the Company (collectively, the "Convertible Debenture Units") at a price of C $1,000 per Convertible Debenture Unit for aggregate gross proceeds of up to C $5,000,000 (the "Private Placement").
The Company intends to continue to offer the Convertible Debenture Units on the same terms and close one or more subsequent tranches during the month of April 2024.
Pursuant to the closing of Tranche 2, the Company issued 1,480 Convertible Debenture Units for gross proceeds of C $1,480,000, consisting of 1,480 Convertible Debentures and 3,700,000 Warrants.
As the Convertible Debentures will be unsecured debt obligations of the Company, each Convertible Debenture will rank subordinate to all secured debt obligations of the Company.

Dyadic Reports 2023 Full Year Results and Recent Company Progress

Retrieved on:

Thursday, March 28, 2024

“In 2023, Dyadic achieved significant milestones in unlocking the potential of its microbial platforms.

Key Points:

“In 2023, Dyadic achieved significant milestones in unlocking the potential of its microbial platforms.
We believe that we are well-positioned, both financially and scientifically, to execute our strategic plan with enhanced capabilities and resources.
For the year ended December 31, 2023, the Company received a total of approximately $1.3 million in connection with the sale of Alphazyme LLC.
Other Income: For the year ended December 31, 2023, the Company had a gain of approximately $1,018,000 from the sale of the Company’s equity interest in Alphazyme, LLC.

Vast Renewables Limited Announces Operational and Financial Results for First Half of Fiscal 2024

Retrieved on:

Thursday, March 28, 2024

SYDNEY, Australia, March 28, 2024 (GLOBE NEWSWIRE) -- Vast Renewables Limited (“Vast” or the “Company”) (Nasdaq: VSTE), a renewable energy company specializing in concentrated solar thermal power (“CSP”) energy systems that generate zero-carbon, utility-scale electricity and industrial process heat today announced operational and financial results for the first half of the Company’s fiscal 2024, comprising the six months ended December 31, 2023.

Key Points:

During the first half of fiscal year 2024, Vast announced several funding commitments from strategic partners.
“The support Vast has received from our strategic partners has been very meaningful to the progress of our company, both from a financial as well as operational standpoint,” said Craig Wood, CEO of Vast.
During the first half of fiscal year 2024, Vast continued to make progress on its first utility-scale project for power generation, known as VS1, located in Port Augusta in South Australia.
As of December 31, 2023, Vast had total diluted common shares outstanding of 29,291,884.

ICR Capital, Leading Equity Capital Markets Advisory Firm, Publishes its Q1 Equity Capital Markets Update & Outlook

Retrieved on:

Monday, April 8, 2024

Finance, Public Relations, Investor Relations, Marketing, Communications, Professional Services, ECM, ICR, Health, IPO, Amer Sports, Initial public offering, Convertible, Security (finance)

ICR Capital, a leading capital markets advisory firm, today released its First Quarter Equity Capital Markets Update & Outlook report.

Key Points:

ICR Capital, a leading capital markets advisory firm, today released its First Quarter Equity Capital Markets Update & Outlook report.
These favorable market conditions led to a resurgence in equity issuance in Q1,” said Steve Parish, Co-Head of ICR Capital.
As always, The ICR Capital team is eager to discuss capital markets objectives with corporate management teams and financial investors.
Click here to download ICR Capital’s 1Q 2024 Equity Capital Markets Update & Outlook report.

Treasury Metals Announces Filing of 2023 Annual Disclosure Documents and Provides a Corporate Update

Retrieved on:

Friday, March 22, 2024

TML, Risk, First, Bank statement, TSX, OTCQX, Gold, Treasury, Convertible

TORONTO, March 22, 2024 (GLOBE NEWSWIRE) -- Treasury Metals Inc. (TSX: TML; OTCQX: TSRMF) (“Treasury” or the “Company”) is pleased to announce the filing of its annual financial statements, management's discussion and analysis and annual information form (together, the "Annual Filings") for the year ended December 31, 2023.

Key Points:

TORONTO, March 22, 2024 (GLOBE NEWSWIRE) -- Treasury Metals Inc. (TSX: TML; OTCQX: TSRMF) (“Treasury” or the “Company”) is pleased to announce the filing of its annual financial statements, management's discussion and analysis and annual information form (together, the "Annual Filings") for the year ended December 31, 2023.
Completed two non-brokered private placements, in June and December 2023, respectively, raising gross proceeds of more than $5.5 million.
“On behalf of the Treasury Metals team, we thank Frazer for his valuable contributions to the Company and wish him future success.
His experience and perspective have been of great value to the Board during his tenure,” stated James Gowans, Chairman of the Board.

Xerox Holdings Corporation Announces Full Exercise of Over-Allotment Option for its 3.75% Convertible Senior Notes due 2029, and Completion of Series of Financing Transactions

Retrieved on:

Monday, March 25, 2024

Consumer Electronics, Retail, Other Retail, Technology, Software, Office Products, Hardware, Exercise, Digital, XRX, Sale, Regulation, Senior, Person, Note, The Act, Debt-to-GDP ratio, Convertible, Security (finance)

Xerox Holdings Corporation (NASDAQ: XRX) (the “Company”) today announced the full exercise of the over-allotment option for its offering of 3.75% Convertible Senior Notes due 2030 (the “Convertible Notes”), raising an additional $50,000,000 and bringing the total gross proceeds from the Convertible Notes offering to $400,000,000.

Key Points:

Xerox Holdings Corporation (NASDAQ: XRX) (the “Company”) today announced the full exercise of the over-allotment option for its offering of 3.75% Convertible Senior Notes due 2030 (the “Convertible Notes”), raising an additional $50,000,000 and bringing the total gross proceeds from the Convertible Notes offering to $400,000,000.
“The recently completed note offerings and repurchase of our 2024 and 2025 Notes greatly enhance the Company’s financial flexibility as we execute Xerox’s Reinvention and invest in our growing Digital and IT businesses,” said Xavier Heiss, Chief Financial Officer of Xerox Holdings Corporation.
In addition, this press release shall not constitute an offer to purchase or a solicitation of an offer to purchase the 2024 Notes or the 2025 Notes.
Any tender offer will be made solely pursuant to an offer to purchase to the holders of the 2024 Notes and the 2025 Notes.

PagerDuty Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results

Retrieved on:

Thursday, March 14, 2024

PagerDuty will host a conference call and live webcast for analysts and investors at 2:00 p.m. Pacific Time on March 14, 2024.

Key Points:

PagerDuty will host a conference call and live webcast for analysts and investors at 2:00 p.m. Pacific Time on March 14, 2024.
This news release with the financial results will be accessible from PagerDuty’s website at investor.pagerduty.com prior to the conference call.
Supplemental Financial and Other Information:
Supplemental financial and other information can be accessed through PagerDuty’s investor relations website at investor.pagerduty.com.
Specifically, PagerDuty excludes the following from its historical and prospective non-GAAP financial measures, as applicable:
Stock-based Compensation: PagerDuty utilizes stock-based compensation to attract and retain employees.

Coinbase Announces Pricing of Upsized Offering of $1.1 Billion of 0.25% Convertible Senior Notes Due 2030

Retrieved on:

Thursday, March 14, 2024

Professional Services, Blockchain, Technology, Cryptocurrency, Finance, Electronic Commerce, Banking, Exercise, Sale, Observation, Public expenditure, Convertible, Investment, Note, Debt-to-GDP ratio, Person, Security (finance)

The aggregate principal amount of the offering was increased from the previously announced offering size of $1.0 billion.

Key Points:

The aggregate principal amount of the offering was increased from the previously announced offering size of $1.0 billion.
Coinbase also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $165.0 million principal amount of notes, solely to cover over-allotments.
If the initial purchasers exercise their option to purchase additional notes, Coinbase expects to use a portion of the net proceeds from the sale of such additional notes to enter into additional capped call transactions.
No sinking fund is provided for the notes, which means that Coinbase is not required to redeem or retire the notes periodically.

Li-Cycle Announces $75 Million Strategic Investment from Glencore

Retrieved on:

Tuesday, March 12, 2024

Ajay Kochhar, Li-Cycle co-founder and CEO, commented: “We are pleased to secure an additional $75 million investment from Glencore, following Glencore’s June 2022 investment, to improve our liquidity position while we continue our ongoing comprehensive review process.

Key Points:

Ajay Kochhar, Li-Cycle co-founder and CEO, commented: “We are pleased to secure an additional $75 million investment from Glencore, following Glencore’s June 2022 investment, to improve our liquidity position while we continue our ongoing comprehensive review process.
The SC engaged Moelis & Company LLC, a leading global investment bank (“Moelis”), as its financial advisor and placement agent.
As part of the partnership, Glencore previously made a $200 million investment in Li-Cycle in June 2022 through the purchase of a convertible note (the “Existing Note”).
The Glencore investment will result in Glencore purchasing from the Company a senior secured convertible note in the aggregate principal amount of $75 million.