Prepayment

Global Cards Market Report 2021-2025 & Long-term Forecast to 2030 - Retail Establishments, Corporate Institutions, Government, Financial Institutions - ResearchAndMarkets.com

Retrieved on: 
Thursday, May 27, 2021

The "Cards Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Cards Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
  • The growing technological innovations are gaining popularity in the cards market over recent years.
  • Major corporations are concentrating on offering digital prepaid card services in emerging economies to attract a large consumer base for prepaid credit cards.
  • The rising demand for credit cards is expected to fuel the growth of the cards market in the forecast period.

Civista Bancshares, Inc. Announces Tactical Balance Sheet Transactions

Retrieved on: 
Friday, May 21, 2021

b'SANDUSKY, Ohio, May 21, 2021 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") announced three tactical transactions.\nOn May 17, 2021, Civista entered into an agreement to sell 7,361 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $1.8 million.

Key Points: 
  • b'SANDUSKY, Ohio, May 21, 2021 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") announced three tactical transactions.\nOn May 17, 2021, Civista entered into an agreement to sell 7,361 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $1.8 million.
  • The carrying value of the Visa Class B shares on the Company\'s balance sheet was $100 as the Bank had no other historical cost basis in the shares.\nOn May 19, 2021, Civista also completed a $50.0 million prepayment of long-term Federal Home Loan Bank advances with a rate of 2.05% and a remaining maturity of approximately 8 years.
  • This transaction was accounted for as an early debt extinguishment resulting in a loss, reported within noninterest expense, of $3.7 million in the second quarter 2021.The debt prepayment, funded with excess cash, will save approximately $1.0 million in annual interest expense.\n"As we look for different ways to deploy excess liquidity, the prepayment of the Federal Home Loan Bank advances is one measure we are taking.While the immediate net effect of the advance prepayment and the sale of the Visa B shares is additional expense of $1.9 million, we expect the prepayment to improve our net interest margin by 12 basis points on an annualized basis," commented Dennis Shaffer, CEO and Presidentof Civista.\nIn addition, Civista redeployed $100 million of excess cash into a mix of investments, yielding 1.50% with an average duration of 5.2 years.\nThe net effect of these three transactions is a pre-tax net loss of $1.9 million and has an estimated earn-back of 0.8 years.The transactions will create $0.12 of accretion to earnings per share on an annualized basis and improve our net interest margin by 17 basis points on an annualized basis.\nCivista Bancshares, Inc. is a $3.1 billion financial holding company headquartered in Sandusky, Ohio.The Company\'s banking subsidiary, Civista Bank, operates 37 locations in Northern, Central and Southwestern Ohio, Southeastern Indiana and Northern Kentucky.Civista Bancshares, Inc. may be accessed at www.civb.com .Civista\'s common shares are traded on the NASDAQ Capital Market under the symbol "CIVB".\nView original content to download multimedia: http://www.prnewswire.com/news-releases/civista-bancshares-inc-announces...\n'

Innovative Payment Solutions, Inc. Announces Appointment of Jonathan Severn to Lead the Company's Prepaid Card Division

Retrieved on: 
Thursday, May 6, 2021

"We believe Jonathan\'s track record and success in the credit and prepaid cards business makes him the ideal person to lead our merchant processing and P2P division.

Key Points: 
  • "We believe Jonathan\'s track record and success in the credit and prepaid cards business makes him the ideal person to lead our merchant processing and P2P division.
  • With the final development of our payment processing system just around the corner, we\'re confident that Jonathan\'s leadership will enable a swift integration of IPSIPay\xe2\x84\xa2 card services into our universal digital marketplace platform.
  • "\nNative of Ventura County, Mr. Severn has been involved in the prepaid cards payment industry for over 30 years.
  • Following his time at Cardservice International, Mr. Severn founded Applied Merchant that oversaw approximately $20 billion annually in credit card transactions.

Innovative Payment Solutions, Inc. Announces Appointment of Jonathan Severn to Lead the Company's Prepaid Card Division

Retrieved on: 
Thursday, May 6, 2021

Severn is an invaluable addition to our team,\xe2\x80\x9d said CEO Willaim Corbett.

Key Points: 
  • Severn is an invaluable addition to our team,\xe2\x80\x9d said CEO Willaim Corbett.
  • \xe2\x80\x9cWe believe Jonathan\xe2\x80\x99s track record and success in the credit and prepaid cards business makes him the ideal person to lead our merchant processing and P2P division.
  • Following his time at Cardservice International, Mr. Severn founded Applied Merchant that oversaw approximately $20 billion annually in credit card transactions.
  • I am intrigued by the business model IPSIPay\xe2\x84\xa2 has developed, including the humanitarian aspect that addresses challenges faced by underserved consumer.

Nxt-ID, Inc. Prepays $3.0 million of its Senior Secured Term Loan Facility

Retrieved on: 
Monday, May 3, 2021

At current interest rates, the Company expects that this prepayment will save the Company approximately $400 thousand in interest expense on an annual basis.

Key Points: 
  • At current interest rates, the Company expects that this prepayment will save the Company approximately $400 thousand in interest expense on an annual basis.
  • After this prepayment, the Company\xe2\x80\x99s Term Loan balance is approximately $2.2 million.\nNxt-ID, Inc. (NASDAQ: NXTD) provides technology products and services for healthcare applications.
  • Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties.
  • The Company\xe2\x80\x99s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors.

Nicola Mining Signs Purchase Contract for Gold and Silver Concentrate with Ocean Partners Holdings

Retrieved on: 
Friday, April 30, 2021

b'Vancouver, British Columbia--(Newsfile Corp. - April 30, 2021) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLI), (the "Company" or "Nicola") is pleased to announce that it has signed a purchase contract (the "Purchase Contract") for gold and silver concentrate with Ocean Partners UK Limited1 ("Ocean Partners"), a company that provides global trading services to miners, smelters, and refiners.

Key Points: 
  • b'Vancouver, British Columbia--(Newsfile Corp. - April 30, 2021) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLI), (the "Company" or "Nicola") is pleased to announce that it has signed a purchase contract (the "Purchase Contract") for gold and silver concentrate with Ocean Partners UK Limited1 ("Ocean Partners"), a company that provides global trading services to miners, smelters, and refiners.
  • The Purchase Contract also includes a revolving US$500,000 prepayment provision (the "Prepayment") that allows the Company to request an advance prepayment for the purpose of working capital.
  • Terms of the Prepayment are 3M LIBOR plus 5.5% per annum plus a fee of US$5,000 on the first Prepayment.
  • Ocean Partners also provided attractive purchase terms and Ocean Partner\'s has expressed interested in providing Nicola funding options for future gold and silver project consolidations.\nThe Company is also pleased to announce that Cameron Lilly, P.Eng., has accepted the role as Mill Manager for the Merritt Mill.

EEA Prepaid Card Market (2020 to 2027) - by Functional Attribute, Card Type, End-user, and Application - ResearchAndMarkets.com

Retrieved on: 
Wednesday, April 14, 2021

b'The "EEA Prepaid Card Market by Functional Attribute, Card Type, End User, and Application: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com\'s offering.\nA prepaid card or a stored-value card is an alternative banking card with a monetary value stored on the card.

Key Points: 
  • b'The "EEA Prepaid Card Market by Functional Attribute, Card Type, End User, and Application: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com\'s offering.\nA prepaid card or a stored-value card is an alternative banking card with a monetary value stored on the card.
  • It permits consumers to spend the amount loaded on the card and can be used as a credit card.
  • These factors, as a result propelling the growth of EEA prepaid card market.
  • Based on card type, the market is classified into general purpose card, gift card, government benefit/disbursement card, payroll card, and others.

EEA Prepaid Card Industry to 2027 - Surge in Unbanked and Under Banked Population Presents Opportunities

Retrieved on: 
Friday, April 16, 2021

b'DUBLIN, April 16, 2021 /PRNewswire/ -- The "EEA Prepaid Card Market by Functional Attribute, Card Type, End User, and Application: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com\'s offering.\nA prepaid card or a stored-value card is an alternative banking card with a monetary value stored on the card.

Key Points: 
  • b'DUBLIN, April 16, 2021 /PRNewswire/ -- The "EEA Prepaid Card Market by Functional Attribute, Card Type, End User, and Application: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com\'s offering.\nA prepaid card or a stored-value card is an alternative banking card with a monetary value stored on the card.
  • It permits consumers to spend the amount loaded on the card and can be used as a credit card.
  • Moreover, alternatives to payment methods have provided a consumer with multiple options for using loaded money in the prepaid card.
  • Based on card type, the market is classified into general purpose card, gift card, government benefit/disbursement card, payroll card, and others.

Tellurian Continues Deleveraging Balance Sheet, Repays 2019 Term Loan in Full

Retrieved on: 
Monday, March 15, 2021

Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that it has repaid its 2019 Term Loan in full after making a voluntary prepayment of approximately $38 million using cash on hand.

Key Points: 
  • Tellurian Inc. (Tellurian) (NASDAQ: TELL) announced today that it has repaid its 2019 Term Loan in full after making a voluntary prepayment of approximately $38 million using cash on hand.
  • As a result of this prepayment, Tellurian has reduced its outstanding debt balance to approximately $21 million.
  • President and CEO Octvio Simes said, Tellurian continues to deleverage the balance sheet and make progress on our commercial efforts.
  • Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide.

Prepaid Card Disbursements Help National Nonprofit Children of Restaurant Employees (CORE) Meet COVID-Driven Upsurge in Demand

Retrieved on: 
Thursday, March 11, 2021

The partnership enables CORE to handle the increased demand for relief without compromising its service levels.

Key Points: 
  • The partnership enables CORE to handle the increased demand for relief without compromising its service levels.
  • "We went from five applications in a week to upwards of ten per day and had to pivot our program very quickly.
  • Visit blackhawknetwork.com for a full selection of prepaid and gift card options, including a variety of contactless employee rewards such as egifts and virtual prepaid cards.
  • Since 2013, the organization has grown into a nationally recognized non-profit that has helped close to 1,100 families in 49 states.