Syndicated loan

Calvert Impact Capital Expands Work in Under-Resourced Communities Globally; Exceeds $500 Million in Community Investment Note® Balance

Retrieved on: 
Thursday, October 1, 2020
Economy, Credit, Financial law, Loans, Syndicated loan, Articles, Calvert, Financial capital

Calvert Impact Capital has cumulatively raised more than $2 billion from nearly 20,000 investors through its signature productthe Community Investment Note (the "Note"), a retail fixed-income product.

Key Points: 
  • Calvert Impact Capital has cumulatively raised more than $2 billion from nearly 20,000 investors through its signature productthe Community Investment Note (the "Note"), a retail fixed-income product.
  • We are thrilled to see this growth, but not at all surprised based on the strength of the Calvert Impact Capital team."
  • With growing investor interest and strong portfolio partners, Calvert Impact Capital has deployed capital throughout 2020 in prudent, high-impact ways.
  • Calvert Impact Capital also offers loan syndications, where we originate, structure, and administer loans for institutional and accredited lenders seeking environmental and social impact.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: August 2020

Retrieved on: 
Wednesday, September 23, 2020
Finance, Consulting, Banking, Professional services, Insurance, Money, Finance, Loans, Economy, Financial law, Collateralized loan obligation, Mortgage, Nationally recognized statistical rating organization, Credit rating agency, Syndicated loan, CLO

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March through August 2020 trustee reports for a representative sample of transactions.
  • The publication is a follow-up to prior KBRA reports which discussed corporate exposure within BSL transactions.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: July 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

U.S. Corporate Loan Market Participants Contribute Over $2.7 Trillion in Economic Output and Employ Tens of Millions of Americans, According to LSTA-Sponsored Study

Retrieved on: 
Wednesday, September 23, 2020
Banking, Professional services, Finance, Money, Finance, Economy, Loans, Loan Syndications and Trading Association, Credit, Syndicated loan

The Loan Syndications and Trading Association (LSTA), the industry association for the syndicated loan market in the United States, today released a study measuring the contributions made by the institutional syndicated loan industry to the U.S. economy in 2020.

Key Points: 
  • The Loan Syndications and Trading Association (LSTA), the industry association for the syndicated loan market in the United States, today released a study measuring the contributions made by the institutional syndicated loan industry to the U.S. economy in 2020.
  • Based on data provided by Infogroup , the LSTA, S&P , the FDIC , and various state and federal governments the syndicated loan industry contributes over $2.7 trillion in economic output and employs over 10 million Americans.
  • There are 326 lending firms and 1,140 borrowers represented in the research.
  • Even with an ongoing pandemic and its subsequent economic uncertainty, syndicated loans will continue to play an integral role in supporting the economy.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: July 2020

Retrieved on: 
Monday, August 24, 2020
Banking, Professional services, Insurance, Finance, Money, Finance, Loans, Economy, Financial law, Collateralized loan obligation, Mortgage, Nationally recognized statistical rating organization, Credit rating agency, Syndicated loan, CLO

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March through July 2020 trustee reports for a representative sample of transactions.
  • The publication is a follow-up to prior KBRA reports which discussed corporate exposure within BSL transactions.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: June 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

1-800-FLOWERS.COM, Inc. Amends Credit Agreement

Retrieved on: 
Monday, August 24, 2020
Online Retail, Retail, Luxury, Other Retail, Specialty, Food, Beverage, Money, Finance, Credit, Economy, Revolving credit, Line of credit, Credit agreements in South Africa, Syndicated loan

The Amendment expands and modifies the credit facilities provided under the Companys existing Second Amended and Restated Credit Agreement dated May 31, 2019 (the Existing Credit Agreement, and the Existing Credit Agreement, as amended by the Amendment, the Amended Credit Agreement).

Key Points: 
  • The Amendment expands and modifies the credit facilities provided under the Companys existing Second Amended and Restated Credit Agreement dated May 31, 2019 (the Existing Credit Agreement, and the Existing Credit Agreement, as amended by the Amendment, the Amended Credit Agreement).
  • The Amended Credit Agreement increases the commitments under the Companys revolving credit facility to $250 million, up from $200 million under the Existing Credit Agreement, and adds a new term loan, in a principal amount of $100 million, in addition to the Companys existing term loan which currently has $95 million principal amount outstanding.
  • The working capital sublimit under the Amended Credit Agreement is $200 million, and the revolving credit facility contains a seasonal reduction to $125 million for the period from January 1 through August 1 for each fiscal year of the Company, reflecting increases from the $175 million and $100 million, respectively, in the Existing Credit Agreement.
  • Borrowings under the new term loan bear interest in accordance with the terms of the Amended Credit Agreement.

DGAP-News: Nordex Group receives revolving syndicated loan of EUR 350 million

Retrieved on: 
Friday, August 7, 2020
Economy, Credit, Loans, Financial law, Syndicated loan, Nordex, Trade

The Nordex Group has secured a revolving syndicated loan facility of EUR 350 million within the framework of the federal government's loan guarantee program with the participation of the states of Mecklenburg-West Pomerania and Hamburg.

Key Points: 
  • The Nordex Group has secured a revolving syndicated loan facility of EUR 350 million within the framework of the federal government's loan guarantee program with the participation of the states of Mecklenburg-West Pomerania and Hamburg.
  • The revolving syndicated loan runs until 30 April 2022.
  • This financing instrument also contains an ESG component and thus fits seamlessly into the sustainable financing structure of the Nordex Group.
  • The Group has installed more than 28 GW of wind energy capacity in over 40 markets and in 2019 generated revenues of EUR 3.3 billion.

KBRA Europe Releases Research – ESG: Portfolio Screening in European BSL CLOs

Retrieved on: 
Thursday, July 30, 2020
Banking, Professional services, Finance, Money, Finance, Loans, Economy, Credit rating agencies, Financial law, Kroll Bond Rating Agency, Syndicated loan, Kroll, Collateralized loan obligation, Bond

Kroll Bond Rating Agency Europe (KBRA) releases Environmental, Social, and Governance (ESG) research which discusses portfolio screening and diversification considerations in European broadly syndicated loan (BSL) collateralized loan obligations (CLO).

Key Points: 
  • Kroll Bond Rating Agency Europe (KBRA) releases Environmental, Social, and Governance (ESG) research which discusses portfolio screening and diversification considerations in European broadly syndicated loan (BSL) collateralized loan obligations (CLO).
  • KBRA has observed several instances of ESG considerations in the form of additional portfolio eligibility criteria (screens) in a majority of our recently rated European BSL CLOs.
  • Kroll Bond Rating Agency Europe is registered with ESMA as a CRA.
  • Kroll Bond Rating Agency Europe is located at 6-8 College Green, Dublin 2, Ireland.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: June 2020

Retrieved on: 
Tuesday, July 21, 2020
Professional services, Insurance, Finance, Money, Finance, Loans, Economy, Financial law, Kroll Bond Rating Agency, Nationally recognized statistical rating organization, Credit rating agency, Collateralized loan obligation, Syndicated loan, CLO

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality based on reported data from March through June 2020 trustee reports for a representative sample of transactions.
  • This publication is a follow-up to prior KBRA reports which discussed corporate exposure within BSL transactions.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: May 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: May 2020

Retrieved on: 
Monday, June 15, 2020
Banking, Professional services, Finance, Money, Finance, Economy, Loans, Financial law, Credit rating agencies, Kroll Bond Rating Agency, Credit risk, Bond market, Syndicated loan, Collateralized loan obligation, Nationally recognized statistical rating organization

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.
  • KBRA continues to monitor the impact of COVID-19 on the issuers of corporate leveraged loans, including those in U.S. BSL CLOs.
  • The publication is a follow-up to prior KBRA reports which discussed corporate exposure within BSL transactions.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: April 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

Technicolor: Update on the On-Going Negotiation Process

Retrieved on: 
Thursday, June 11, 2020
Economy, Money, Finance, Credit, Personal finance, Revolving credit, Loans, Financial law, Syndicated loan, Debt

The Recognition Procedure is solely a procedure allowing the recognition of the effects of foreign proceedings in the US (here the French SFA), in a rather light process.

Key Points: 
  • The Recognition Procedure is solely a procedure allowing the recognition of the effects of foreign proceedings in the US (here the French SFA), in a rather light process.
  • As announced in the June 4th press release, the Company has received an indicative global proposal from financial institutions representing approximately 59% of the Term Loan B lenders and Revolving Credit Facility lenders.
  • Such proposal addresses both the Groups liquidity requirements and the need to deleverage the Companys balance sheet.
  • The Company will share in due course with the market the outcome of the discussions with its lenders under the Credit Facilities.