Libor

Dynagas LNG Partners LP Declares Cash Distribution on Its Series B Preferred Units

Retrieved on: 
Thursday, February 1, 2024

ATHENS, Greece, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the “Partnership”) (NYSE: DLNG), an owner and operator of liquefied natural gas (“LNG”) carriers, today announced that its Board of Directors has declared a cash distribution of $0.71764025 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (the “Series B Preferred Units”) (NYSE: DLNG PR B) for the period from and including November 22, 2023 to and including February 21, 2024 (the “Distribution Period”).

Key Points: 
  • ATHENS, Greece, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Dynagas LNG Partners LP (the “Partnership”) (NYSE: DLNG), an owner and operator of liquefied natural gas (“LNG”) carriers, today announced that its Board of Directors has declared a cash distribution of $0.71764025 per unit on its Series B Fixed to Floating Cumulative Redeemable Perpetual Preferred Units (the “Series B Preferred Units”) (NYSE: DLNG PR B) for the period from and including November 22, 2023 to and including February 21, 2024 (the “Distribution Period”).
  • The applicable distribution rate for each distribution period is determined every three months by the calculation agent for the Series B Preferred Units.
  • This is the twenty-first sequential cash distribution on the Series B Preferred Units since they began trading on the NYSE.
  • The Partnership has 2,200,000 Series B Preferred Units outstanding as of the date of this press release.

Navios Maritime Partners L.P. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2023

Retrieved on: 
Thursday, November 2, 2023

On September 22, 2023, Navios Partners agreed to sell a 2004-built Capesize vessel of 180,310 dwt, to an unrelated third party, for gross sale proceeds of $13.0 million.

Key Points: 
  • On September 22, 2023, Navios Partners agreed to sell a 2004-built Capesize vessel of 180,310 dwt, to an unrelated third party, for gross sale proceeds of $13.0 million.
  • During the first nine months of 2023, Navios Partners agreed to acquire four newbuilding Japanese MR2 product tankers from unrelated third parties, under bareboat contracts.
  • The Board of Directors of Navios Partners declared a cash distribution for the third quarter of 2023 of $0.05 per unit.
  • For the following results and the selected financial data presented herein, Navios Partners has compiled condensed consolidated statements of operations for the three and nine month periods ended September 30, 2023 and 2022.

Microbot Medical Receives a Non-Dilutive Grant from The Israel Innovation Authority Supporting the Development of the Manufacturing Process for its Endovascular Surgical Robotic System

Retrieved on: 
Friday, June 2, 2023

“This non-dilutive grant will facilitate our efforts to establish the manufacturing infrastructure capability for the LIBERTY® system.

Key Points: 
  • “This non-dilutive grant will facilitate our efforts to establish the manufacturing infrastructure capability for the LIBERTY® system.
  • While we will work with manufacturing partners to scale production, the sophisticated and crucial core technology and elements of the manufacturing process are expected to be handled internally.
  • In relation to the IIA grant, Microbot is obligated to pay royalties amounting to between 3%-5% of its future sales of the LIBERTY product up to the grant amount plus interest.
  • The grant is linked to the U.S. dollar and bears interest at Libor per annum.

American Financial Exchange Appoints Veteran Financial Services Executive John Shay as CEO

Retrieved on: 
Tuesday, May 2, 2023

CHICAGO, May 2, 2023 /PRNewswire/ -- The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, today announced that the exchange has appointed veteran financial services executive John Shay as CEO, effective immediately.

Key Points: 
  • CHICAGO, May 2, 2023 /PRNewswire/ -- The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, today announced that the exchange has appointed veteran financial services executive John Shay as CEO, effective immediately.
  • AFX recently announced that 100% of the company was acquired by 7RIDGE, a specialized growth equity firm invested in transformative technologies for financial services.
  • Shay has decades of experience in leadership roles at some of the world's leading financial institutions and as an advisor to U.S. regulators governing the financial industry.
  • Since 2007, he has been part of leading global market making firm Virtu Financial, most recently as Senior Advisor to the CEO.

GasLog Partners LP Reports Financial Results for the Three-Month Period Ended March 31, 2023 and Declares Cash Distribution

Retrieved on: 
Thursday, April 27, 2023

Revenues were $99.1 million for the quarter ended March 31, 2023, compared to $85.5 million for the same period in 2022.

Key Points: 
  • Revenues were $99.1 million for the quarter ended March 31, 2023, compared to $85.5 million for the same period in 2022.
  • General and administrative expenses were $5.6 million for the quarter ended March 31, 2023, compared to $4.7 million for the same period in 2022.
  • Adjusted EBITDA (1) was $76.3 million for the quarter ended March 31, 2023, compared to $60.9 million for the same period in 2022.
  • Financial costs were $17.4 million for the quarter ended March 31, 2023, compared to $8.8 million for the same period in 2022.

Navios Maritime Partners L.P. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2022

Retrieved on: 
Tuesday, February 21, 2023

Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the full year and the fourth quarter of 2022.

Key Points: 
  • Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the full year and the fourth quarter of 2022.
  • During the fourth quarter of 2022, Navios Partners entered into long-term charters which are expected to generate revenue of approximately $328 million.
  • The Board of Directors of Navios Partners declared a cash distribution for the fourth quarter of 2022 of $0.05 per unit.
  • In September 2022, Navios Partners completed the acquisition of a 36-vessel drybulk fleet from Navios Maritime Holdings Inc. (“Navios Holdings”).

Saratoga Investment Corp. Announces Fiscal Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, January 10, 2023

Since Saratoga Investment took over the management of the BDC, $879 million of repayments and sales of investments originated by Saratoga Investment have generated a gross unlevered IRR of 16.4%.

Key Points: 
  • Since Saratoga Investment took over the management of the BDC, $879 million of repayments and sales of investments originated by Saratoga Investment have generated a gross unlevered IRR of 16.4%.
  • For the quarter ended November 30, 2022, total investment income of $26.3 million increased by $9.8 million, or 59.1%, when compared to $16.5 million for the quarter ended November 30, 2021.
  • Net investment income on a weighted average per share basis was $0.83 for the quarter ended November 30, 2022.
  • The Company previously declared in fiscal 2023 a quarterly dividend of $0.54 per share for the quarter ended August, 31, 2022 and $0.53 per share for the quarter ended May 31, 2022.

DHT Holdings, Inc. announces $305 million financing

Retrieved on: 
Monday, January 9, 2023

HAMILTON, BERMUDA, January 9, 2023 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces a new $305 million secured credit facility.

Key Points: 
  • HAMILTON, BERMUDA, January 9, 2023 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announces a new $305 million secured credit facility.
  • It is in line with the “DHT-style financing” including a six-year tenor and a 20-year repayment profile.
  • The new facility will bear interest at a rate equal to Secured Overnight Financing Rate (SOFR) plus a margin of 1.90%, including the historical Credit Adjustment Spread (CAS) of 26 basis points.
  • The new facility will refinance the outstanding amount on the current ABN Amro credit facility and be secured by 10 of the Company’s VLCCs.

Textainer Renews and Increases its Revolver Facility to $1.9 Billion

Retrieved on: 
Wednesday, August 10, 2022

The facility has an extended 5-year period with a maturity date through August 2027.

Key Points: 
  • The facility has an extended 5-year period with a maturity date through August 2027.
  • The benchmark interest rate has been additionally transitioned to Secured Overnight Financing Rate (SOFR) due to the upcoming London Inter-Bank Offered Rate (LIBOR) discontinuation.
  • The applicable interest rate has therefore been amended to the daily SOFR, plus a spread of 1.475% payable monthly in arrears.
  • This increase in the revolver commitment provides additional flexibility and enhances Textainers already well-positioned capital structure, commented Michael K. Chan, Textainer Executive Vice President and Chief Financial Officer.

WSFS Announces Sale of BMT Insurance Advisors to Patriot Growth Insurance Services, LLC

Retrieved on: 
Thursday, July 7, 2022

WILMINGTON, Del., July 07, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS) today announced it sold the business of BMT Insurance Advisors (BMTIA), an independent insurance brokerage and risk management consulting firm throughout the United States that builds custom insurance solutions for consumers and businesses, to Patriot Growth Insurance Services, LLC (Patriot).

Key Points: 
  • WILMINGTON, Del., July 07, 2022 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (NASDAQ: WSFS) today announced it sold the business of BMT Insurance Advisors (BMTIA), an independent insurance brokerage and risk management consulting firm throughout the United States that builds custom insurance solutions for consumers and businesses, to Patriot Growth Insurance Services, LLC (Patriot).
  • The deal includes an offer of continuing employment for all BMTIA Associates and is not expected to materially impact future earnings.
  • Our focus is on the long-term organic growth opportunities for the Bank, the Wealth and Trust business, and our other strategic fee-based businesses.
  • In 2021, Patriot was ranked as the 27th largest privately held broker in the U.S. by Business Insurance.