Asset-backed security

KBRA Wins Triple A Credit Rating Agency Awards for ESG at The Asset Awards 2024

Retrieved on: 
Tuesday, April 2, 2024
Professional Services, Finance, Element, Asset, Confusion, Risk, Education, ESG, Acquisition, Asset-backed security, Criterion, Security (finance)

KBRA, a global full-service credit rating agency, is pleased to announce it was named ESG Credit Rating Agency of the Year by The Asset, a leading Asian financial market publication.

Key Points: 
  • KBRA, a global full-service credit rating agency, is pleased to announce it was named ESG Credit Rating Agency of the Year by The Asset, a leading Asian financial market publication.
  • KBRA won ESG Credit Rating Agency of the Year in both the U.S. and Europe at the publication’s Triple A Sustainable Finance Awards 2024 dinner, which was held in Hong Kong in March.
  • KBRA previously won the Asset Backed Securities Rating Agency of the Year award in the region for both 2022 and 2021.
  • “When it comes to ESG coverage in Europe and the Americas, KBRA is a leader,” The Asset said.

KNOT Offshore Partners LP Earnings Release—Interim Results for the Period Ended September 30, 2023

Retrieved on: 
Wednesday, December 13, 2023
Maritime, Other Energy, Transport, Oil, Gas, Energy, Other Transport, EBITDA, Partnership, Sale, Employment, Master limited partnership, SOFR, FPSO, Knutsen NYK Offshore Tankers, Asset-backed security, Depreciation, Bank statement, Exercise, Shell, Repsol, GAAP, Adjustment, NYK, Total, Growth, LIBOR, Cryptocurrency, Airline, Renting, Beauty salon, Security (finance), Equinor

For the three months ended September 30, 2023 (“Q3 2023”), KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):

Key Points: 
  • For the three months ended September 30, 2023 (“Q3 2023”), KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):
    Generated total revenues of $72.7 million, operating income of $20.6 million and net income of $12.6 million.
  • Vessel operating expenses for Q3 2023 were $23.2 million, a decrease of $2.1 million from $25.3 million in Q2 2023.
  • Depreciation was $27.5 million for Q3 2023, a decrease of $0.6 million from $28.1 million in Q2 2023.
  • Interest expense for Q3 2023 was $18.5 million, an increase of $0.4 million from $18.1 million for Q2 2023.

Grindr Secures New $350 Million Credit Facility

Retrieved on: 
Wednesday, November 29, 2023
Technology, Finance, Banking, LGBTQ+, Communications, Professional Services, Software, Social Media, Consumer, EBITDA, NYSE, SOFR, Bank, Silicon Valley Bank, J. P. Morgan, Citizens Bank, Asset-backed security, Grindr, LGBTQ, Growth, Bank of America, Inc., Environment, Revolving credit, First Citizens BancShares, Security (finance)

Grindr Inc. (NYSE:GRND), the world’s largest social network for the LGBTQ community, today announced that it completed a refinancing via a new $300 million Term Loan A facility and a $50 million Revolving Credit facility.

Key Points: 
  • Grindr Inc. (NYSE:GRND), the world’s largest social network for the LGBTQ community, today announced that it completed a refinancing via a new $300 million Term Loan A facility and a $50 million Revolving Credit facility.
  • The transaction is an important milestone for Grindr, as the only public company built and run by and for the LGBTQ community, in strengthening key relationships with the world’s top banks.
  • “We would like to thank our new financial partners for backing Grindr and the diverse gay community we represent,” said Grindr CEO George Arison.
  • “Restructuring our high-cost lending facility was a key objective in our first year as a public company, and we’re very pleased with our successful outcome, especially in a challenging interest rate environment,” said Grindr CFO Vanna Krantz.

KORE Announces Completion of Comprehensive Debt Refinancing and Strategic Investment

Retrieved on: 
Thursday, November 16, 2023
Term loan, Acquisition, Kores (company), NYSE, Internet of things, SOFR, LLP, Mitel, Asset-backed security, Kirkland & Ellis, TTM, Telus Corporation, Bahl, Searchlight Capital, Adjustment, UBS, Growth, Rogers Wireless, Bank, KORE

Searchlight Capital has made a $150 million strategic investment in the form of non-convertible preferred stock with a ten-year maturity and 13% per annum dividend rate.

Key Points: 
  • Searchlight Capital has made a $150 million strategic investment in the form of non-convertible preferred stock with a ten-year maturity and 13% per annum dividend rate.
  • Proceeds from the Searchlight investment were used for debt repayment, transaction fees, and expenses, resulting in KORE having additional cash for general corporate purposes.
  • TD Cowen acted as exclusive financial advisor to the Company in connection with its strategic equity investment.
  • UBS Investment Bank acted as exclusive Debt Advisor on the Term Loan refinancing.

Sandbox Royalties Announces US$100 Million of Fully Funded Acquisitions

Retrieved on: 
Tuesday, October 31, 2023
Stikeman Elliott, NSR, Gold, Asset-backed security, Bank, Copper, GPA, APA, WLG, RCF, Bank of Montreal, First Step, CLA, National Bank of Canada, Growth, NBC, LLP, National bank, PIK, Silver, Southern Copper Corporation, GRR, Zinc, Significance, Graphite, Investment, Sandstorm Gold, Blackwater, BMO, Palladium, Airline, Security (finance), Cryptocurrency, Greenstone, Sandbox, Dust storm, Regal

Vancouver, British Columbia--(Newsfile Corp. - October 31, 2023) - Sandbox Royalties Corp. ("Sandbox Royalties", "Sandbox", or the "Company") today announces that it has entered into definitive agreements to acquire three royalty and streaming assets on high-quality, in-construction mining projects for total consideration of US$100 million.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - October 31, 2023) - Sandbox Royalties Corp. ("Sandbox Royalties", "Sandbox", or the "Company") today announces that it has entered into definitive agreements to acquire three royalty and streaming assets on high-quality, in-construction mining projects for total consideration of US$100 million.
  • Regal has also subscribed for approximately 34.6 million common shares of Sandbox at a price of C$0.70/common share for total proceeds of US$17.5 million.
  • On October 31, 2023, Sandbox entered into a 5-year, C$22.2 million (US$16 million) secured convertible loan agreement ("CLA") with Beedie Capital.
  • Beedie Capital has also subscribed for approximately 7.9 million common shares of Sandbox at a price of C$0.70/common share for total proceeds of US$4 million.

CoreCivic Reports Third Quarter 2023 Financial Results

Retrieved on: 
Monday, November 6, 2023
McRae, CoreCivic, Federal Bureau of Prisons, Male, EPS, COVID-19, ICE, Bloomberg, Share repurchase, Debt-to-GDP ratio, Tallahatchie, Sale, Asset-backed security, Supplement, Tax, GAAP, Damon T. Hininger, Oklahoma Department of Corrections, Credit, National Debt Repayment Movement, CXW, Investment, Funds from operations, Crossroads Correctional Center, Note, Bank statement, Tallahatchie County Correctional Facility, Depreciation, Title 42 of the United States Code, Documentation, Fourth Amendment Protection Act, NYSE, Government, EBITDA, North Fork Correctional Facility, State, FFO, Environment, BOP, ODC, Bank, Video game, Car rental, Property management, Normalization

BRENTWOOD, Tenn., Nov. 06, 2023 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the third quarter of 2023.

Key Points: 
  • BRENTWOOD, Tenn., Nov. 06, 2023 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the third quarter of 2023.
  • Net income in the third quarter of 2023 totaled $13.9 million, or $0.12 per diluted share, compared with net income in the third quarter of 2022 of $68.3 million, or $0.58 per diluted share.
  • Earnings before interest, taxes, depreciation and amortization (EBITDA) was $72.8 million in the third quarter of 2023, compared with $147.9 million in the third quarter of 2022.
  • Based on current business conditions, we are providing the following update to our financial guidance for the full year 2023:

Federal Home Loan Bank of Atlanta Announces Third Quarter 2023 Operating Highlights

Retrieved on: 
Thursday, October 26, 2023
Asset-backed security, Security (finance), Bank, Housing, Federal Home Loan Banks, SOFR, Securities and Exchange Commission (Nigeria), AHP, Economic development, Investment, Cryptocurrency, ROE

ATLANTA, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter ended September 30, 2023.

Key Points: 
  • ATLANTA, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (the Bank) today released preliminary unaudited financial highlights for the quarter ended September 30, 2023.
  • Average daily SOFR during the third quarter of 2023 was 5.24 percent compared to 2.15 percent for the same period in 2022.
  • Average advance balances were $108.5 billion for the third quarter of 2023, compared to $83.4 billion for the same period in 2022.
  • For the first nine months of 2023, the Bank originated a total of $390.4 billion of advances, thereby providing significant liquidity to its members.

American Tower Corporation Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 26, 2023
Technology, Telecommunications, Commercial Building & Real Estate, Construction & Property, 5G, REIT, Francs, Bangladeshi taka, Asset-backed security, Dollar, Guarani language, South African rand, Argentine peso, Nigerian naira, AMT, Marshal of France, African, Rupee, Bookkeeping, Bank

On September 15, 2023, the Company issued an aggregate of $1.5 billion in senior unsecured notes.

Key Points: 
  • On September 15, 2023, the Company issued an aggregate of $1.5 billion in senior unsecured notes.
  • The net proceeds of the offering were used to repay existing indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility.
  • The following full year 2023 estimates are based on a number of assumptions that management believes to be reasonable and reflect the Company’s expectations as of October 26, 2023.
  • 2023 Outlook ($ in millions, except per share amounts.)

HireRight Completes Refinancing of First Lien Senior Secured Term Loan

Retrieved on: 
Friday, September 29, 2023
Finance, Professional Services, Technology, Software, Human Resources, HRT, Asset-backed security, HireRight, NYSE, Bank

HireRight Holdings Corporation (NYSE: HRT) ("HireRight" or the "Company"), a leading provider of background screening services, today announced the closing of the refinancing and upsizing of its first lien senior secured term loan facility as well as an upsizing of its revolving credit facility.

Key Points: 
  • HireRight Holdings Corporation (NYSE: HRT) ("HireRight" or the "Company"), a leading provider of background screening services, today announced the closing of the refinancing and upsizing of its first lien senior secured term loan facility as well as an upsizing of its revolving credit facility.
  • The refinanced first lien term loan facility increased the outstanding principal under the facility from $695 million to $750 million.
  • Interest rates on the first lien term loan facility were changed to the Secured Overnight Financing Rate (“SOFR”), plus 400 bps.
  • The maturity of the first lien term loan facility was extended to 2030.

Centerra Gold Announces Extension of Corporate Credit Facility

Retrieved on: 
Monday, September 11, 2023
Scotiabank, CG, Line of credit, Primary Dealer Credit Facility, National bank, Public expenditure, Asset-backed security, Investment, Bank, TSX, Credit, NYSE

TORONTO, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that it has extended its US$400 million revolving credit facility (the "Credit Facility") with a renewed term of four years, now maturing on September 8, 2027.

Key Points: 
  • TORONTO, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) announced today that it has extended its US$400 million revolving credit facility (the "Credit Facility") with a renewed term of four years, now maturing on September 8, 2027.
  • The Credit Facility is led by The Bank of Nova Scotia and National Bank Financial Markets and is supported by a syndicate of international financial institutions.
  • The margin is unchanged from the previous credit facility.
  • Though the Credit Facility is currently undrawn, it offers future flexibility and may be used for general corporate purposes, including working capital, investments, acquisitions, and capital expenditures, while reducing the Company’s financing costs as the Company’s cash position continues to grow.