Issuer

AM Best Places Issue Credit Rating of Atradius Finance B.V. Under Review With Positive Implications Following Updated Best’s Credit Rating Methodology Release

Retrieved on: 
Thursday, January 18, 2024

The main updates to BCRM focus on Part IV: Insurance Holding Company and Issue Credit Ratings.

Key Points: 
  • The main updates to BCRM focus on Part IV: Insurance Holding Company and Issue Credit Ratings.
  • The changes are related primarily to the notching used to derive the Long-Term Issuer Credit Rating of an insurance holding company and associated issue ratings.
  • AM Best will assess the issue under the revised approach to holding company and debt notching under the updated BCRM and will complete any corresponding Credit Rating (rating) update in the near term.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .

KBRA Assigns Preliminary Ratings to Oxford Finance Credit Fund III 2024-A LP

Retrieved on: 
Tuesday, January 16, 2024

KBRA assigns preliminary ratings to three classes of notes issued by Oxford Finance Credit Fund III 2024-A LP (the Issuer or Oxford 2024-A).

Key Points: 
  • KBRA assigns preliminary ratings to three classes of notes issued by Oxford Finance Credit Fund III 2024-A LP (the Issuer or Oxford 2024-A).
  • Oxford 2024-A is primarily secured by a pool of senior secured loans co-originated by Oxford Finance Credit Fund III LP (the Fund) alongside Oxford Finance LLC (Oxford or an Originator, and together with the Fund, the Originators), or originated by Oxford and acquired by the Fund from Oxford, to companies operating in the healthcare industry and adjacent markets and serviced by Oxford Finance Advisors, LLC (the Servicer or Oxford Finance Advisors), a subsidiary of Oxford.
  • The Fund will be retaining the equity in Oxford 2024-A.
  • The exposures to Healthcare Loans and Life Sciences Loans are 78.3% and 21.7% of the Statistical Pool Balance, respectively.

Acrisure Announces Pricing of Notes Offering

Retrieved on: 
Tuesday, January 16, 2024

Acrisure, LLC (the “Company”) and Acrisure Finance, Inc. (together with the Company, the “Issuers”) announced today the pricing of $925,000,000 aggregate principal amount of 8.25% senior notes due 2029 (the “notes”).

Key Points: 
  • Acrisure, LLC (the “Company”) and Acrisure Finance, Inc. (together with the Company, the “Issuers”) announced today the pricing of $925,000,000 aggregate principal amount of 8.25% senior notes due 2029 (the “notes”).
  • The Issuers intend to use the net proceeds from the notes offering to fund the redemption of all of its outstanding 7.000% senior notes due 2025, including the payment of premiums and accrued interest to the redemption date.
  • The Issuers expect to use any remaining net proceeds from the notes offering to pay related fees and expenses.
  • The notes offering is expected to close on January 30, 2024, subject to customary closing conditions.

Acrisure Announces Proposed Notes Offering

Retrieved on: 
Tuesday, January 16, 2024

Acrisure, LLC (the “Company”) and Acrisure Finance, Inc. (together with the Company, the “Issuers”) announced today that they plan to offer, subject to market conditions, approximately $925,000,000 aggregate principal amount of senior notes due 2029 (the “notes”).

Key Points: 
  • Acrisure, LLC (the “Company”) and Acrisure Finance, Inc. (together with the Company, the “Issuers”) announced today that they plan to offer, subject to market conditions, approximately $925,000,000 aggregate principal amount of senior notes due 2029 (the “notes”).
  • The Issuers intend to use the net proceeds from the notes offering to fund the redemption of all of its outstanding 7.000% senior notes due 2025, including the payment of premiums and accrued interest to the redemption date.
  • The Issuers expect to use any remaining net proceeds from the notes offering to pay related fees and expenses.
  • Accordingly, the notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States in reliance on Regulation S under the Securities Act.

JKS RESOURCES INC. announces PROPOSED TRANSACTION TO ACQUIRE YUKON PROPERTIES

Retrieved on: 
Monday, January 15, 2024

If completed, the Transaction will constitute a "fundamental change" of JKS pursuant to the policies of the Canadian Securities Exchange (the "CSE").

Key Points: 
  • If completed, the Transaction will constitute a "fundamental change" of JKS pursuant to the policies of the Canadian Securities Exchange (the "CSE").
  • As a result, the Transaction requires approval of the majority of the shareholders of the Company.
  • Upon completion of the Transaction, JKS intends to be listed on the CSE as a mining issuer and will principally focus on the exploration and development of the Properties.
  • Under the rules of the CSE, the Company's shares will remain halted until closing of the Transaction.

JKS RESOURCES INC. announces PROPOSED TRANSACTION TO ACQUIRE YUKON PROPERTIES

Retrieved on: 
Monday, January 15, 2024

If completed, the Transaction will constitute a "fundamental change" of JKS pursuant to the policies of the Canadian Securities Exchange (the "CSE").

Key Points: 
  • If completed, the Transaction will constitute a "fundamental change" of JKS pursuant to the policies of the Canadian Securities Exchange (the "CSE").
  • As a result, the Transaction requires approval of the majority of the shareholders of the Company.
  • Upon completion of the Transaction, JKS intends to be listed on the CSE as a mining issuer and will principally focus on the exploration and development of the Properties.
  • Under the rules of the CSE, the Company's shares will remain halted until closing of the Transaction.

HSBC Continental Europe: Pre Stabilisation Notice

Retrieved on: 
Tuesday, January 9, 2024

However, there is no assurance that the Stabilisation Manager(s) will take any stabilisation action and any stabilisation action, if begun, may be ended at any time.

Key Points: 
  • However, there is no assurance that the Stabilisation Manager(s) will take any stabilisation action and any stabilisation action, if begun, may be ended at any time.
  • Any stabilisation action or over-allotment shall be conducted in accordance with all applicable laws and rules.
  • This announcement is not an offer of securities for sale into the United States.
  • RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.

AM Best Affirms Issue Credit Rating of Fairfax Financial Holdings Limited’s Reopened Senior Unsecured Notes

Retrieved on: 
Friday, January 12, 2024

AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) of the 6% senior unsecured notes, due December 2033, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada).

Key Points: 
  • AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) of the 6% senior unsecured notes, due December 2033, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada).
  • The rating applies to the recently issued $200 million 6% senior unsecured notes, due 2033, and its existing $400 million 6% senior unsecured notes, due 2033, issued Dec. 7, 2023.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

KBRA Assigns AA+ Rating, Stable Outlook to TBTA Payroll Mobility Tax Senior Lien Green Bonds, Series 2024A (Climate Bond Certified)

Retrieved on: 
Wednesday, January 10, 2024

KBRA assigns a long-term rating of AA+ with a Stable Outlook to the Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels) Payroll Mobility Tax Senior Lien Green Bonds, Series 2024A (Climate Bond Certified).

Key Points: 
  • KBRA assigns a long-term rating of AA+ with a Stable Outlook to the Triborough Bridge and Tunnel Authority (MTA Bridges and Tunnels) Payroll Mobility Tax Senior Lien Green Bonds, Series 2024A (Climate Bond Certified).
  • Concurrently, KBRA affirms the long-term rating of AA+ with a Stable Outlook on TBTA's outstanding Payroll Mobility Tax Senior Lien Bonds.
  • The short-term rating of K1+ on TBTA's outstanding Payroll Mobility Tax Bond Anticipation Notes, is also affirmed.
  • Senior lien PMT obligations benefit from a 2.25x ABT based on historical pledged revenues and pro-forma MADS.

Berry Global Announces Pricing of Offering of First Priority Senior Secured Notes

Retrieved on: 
Wednesday, January 10, 2024

The Issuer will issue $800,000,000 of its First Priority Senior Secured Notes due 2034 (the “Notes”).

Key Points: 
  • The Issuer will issue $800,000,000 of its First Priority Senior Secured Notes due 2034 (the “Notes”).
  • The closing of the private placement offering is expected to occur on or about January 17, 2024.
  • The Notes will be guaranteed by Berry and each of the Issuer’s existing and future direct or indirect domestic subsidiaries that guarantees the Issuer’s senior secured credit facilities and existing first priority secured notes, subject to certain exceptions.
  • Any offers of the Notes will be made only by means of a private offering memorandum.