Syndicated loan

Turkiye Garanti Bankasi A.S.: Announcement regarding Syndicated Loan Agreement

Retrieved on: 
Wednesday, May 20, 2020
Economy, Money, Finance, Interest rates, Banking, Euribor, Eurozone, Syndicated loan, Libor, European Bank for Reconstruction and Development

With the participation of IFC and EBRD, our Bank has signed three separate loan agreements including a syndicated loan agreement with 367-days maturity in the total funding amount of US$ 698,860,00.00 The all-in cost has been realized as Libor+2.25% and Euribor+2.00%.

Key Points: 
  • With the participation of IFC and EBRD, our Bank has signed three separate loan agreements including a syndicated loan agreement with 367-days maturity in the total funding amount of US$ 698,860,00.00 The all-in cost has been realized as Libor+2.25% and Euribor+2.00%.
  • In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
  • We declare that our above statements are in conformity with the principles included in the Board's Communiqu, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

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

Retrieved on: 
Wednesday, May 13, 2020
Other Communications, Finance, Public relations, Investor relations, Marketing, Consulting, Banking, Communications, Professional services, Money, Economy, Finance, Loans, Financial law, Collateralized loan obligation, Mortgage, Syndicated loan, Kroll Bond Rating Agency, Credit rating agency, CLO, Credit

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.
  • As expected, economic fallout from the pandemic has already led to credit deterioration for issuers in certain cyclical and non-defensive industries such as gaming, leisure, and energy.
  • In the report, we provide an update on U.S. CLO sector exposure and overall industry credit quality based on reported data from April 2020 trustee reports for a representative sample of transactions.

Eastern Union's New 'Distressed Notes Initiative' Will Match Lenders with Investors Who Are Prepared to Purchase Troubled Debt

Retrieved on: 
Tuesday, May 12, 2020
Economy, Money, Finance, Loans, Credit, Mortgage industry of the United States, Banking, United States housing bubble, Syndicated loan, Payday loan

"At the same time, we have strong and well-established business relationships with vast numbers of investors.

Key Points: 
  • "At the same time, we have strong and well-established business relationships with vast numbers of investors.
  • Many will be willing to take troubled loans off of lenders' hands.
  • "Eastern Union has a nearly-20-year track record of service to both the lender and investor communities," he said.
  • These lenders said they expected to need brokerage assistance in selling off troubled loans, and asked if Eastern Union could assist.

Global Loan Market Associations Launch New Guidance Documents to Support the Green Loan Principles and the Sustainability Linked Loan Principles

Retrieved on: 
Tuesday, May 5, 2020
Banking, Professional services, Environment, Finance, Economy, Money, Finance, Asia Pacific Loan Market Association, Loans, Credit, APLMA, Environmentalism, Loan Syndications and Trading Association, Syndicated loan, Loan Market Association, Sustainability

The Asia Pacific Loan Market Association ( APLMA ), Loan Market Association ( LMA ) and Loan Syndications and Trading Association ( LSTA ) are delighted to announce the publication of two new guidance documents, which aim to address some of the most frequently asked questions in relation to the Green Loan Principles ("GLP") and the Sustainability Linked Loan Principles ("SLLP").

Key Points: 
  • The Asia Pacific Loan Market Association ( APLMA ), Loan Market Association ( LMA ) and Loan Syndications and Trading Association ( LSTA ) are delighted to announce the publication of two new guidance documents, which aim to address some of the most frequently asked questions in relation to the Green Loan Principles ("GLP") and the Sustainability Linked Loan Principles ("SLLP").
  • The launch of the GLP in 2018 and the SLLP in 2019 were key milestones in the development of the global market for green and sustainability linked loan products.
  • By providing further information on these matters, the guidance documents aim to further support the expansion of the market for these important sustainable finance products.
  • Rosamund Barker, Head of Legal at the APLMA, commented:
    "We trust borrowers and lenders in the syndicated loan market across the globe wishing to take advantage of green and sustainability linked loan products will find these guidance documents informative.

Buenaventura Concludes Refinancing of US$ 275 Million Syndicated Loan Facility

Retrieved on: 
Friday, April 3, 2020
Mining, Minerals, Natural Resources, Economy, Money, Finance, Loans, Credit, Financial law, Banking, Mortgage, Syndicated loan, Refinancing, Credicorp, Debt

(Buenaventura or the Company) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Perus largest publicly-traded precious metals mining company, today announced the successful refinancing of a US$ 275 million syndicated loan facility- arranged by joint bookrunners and lead arrangers BBVA, BCP/Credicorp Capital and Ita- extending the Companys current maturities at a reduced rate of interest while improving other loan-related financial conditions.

Key Points: 
  • (Buenaventura or the Company) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Perus largest publicly-traded precious metals mining company, today announced the successful refinancing of a US$ 275 million syndicated loan facility- arranged by joint bookrunners and lead arrangers BBVA, BCP/Credicorp Capital and Ita- extending the Companys current maturities at a reduced rate of interest while improving other loan-related financial conditions.
  • The new term loan increases both the capacity and overall tenor of our debt.
  • Buenaventura received strong support for the refinancing, a testament to the strength of our business and medium- to long-term growth profile."
  • Maturity for the new loan facility has been set for a new five-year term loan with a 30-month grace period, with semi-annual installments starting in October 2022.

KBRA Releases Research – Coronavirus (COVID-19): KBRA U.S. BSL CLO Rating Sensitivity Analysis

Retrieved on: 
Thursday, April 2, 2020
Banking, Professional services, Finance, Finance, Money, Economy, Credit rating agencies, Kroll Bond Rating Agency, Credit rating, Nationally recognized statistical rating organization, Credit risk, Syndicated loan, Bond credit rating, KBRA

Kroll Bond Rating Agency (KBRA) releases a report which outlines several hypothetical stress scenarios for sectors that KBRA believes to be at risk, due to the coronavirus (COVID-19) pandemic and the resulting impact on KBRAs rated U.S. broadly syndicated loan (BSL) CLO transactions.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which outlines several hypothetical stress scenarios for sectors that KBRA believes to be at risk, due to the coronavirus (COVID-19) pandemic and the resulting impact on KBRAs rated U.S. broadly syndicated loan (BSL) CLO transactions.
  • KBRA believes that loan issuers will face challenges in the months ahead, particularly in certain sectors, and recently published a paper highlighting U.S. BSL CLO exposure to these at-risk sectors.
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLOs’ At-Risk Sector Exposure Takes Shape

Retrieved on: 
Tuesday, March 24, 2020
Professional services, Finance, Money, Finance, Economy, Loans, Kroll Bond Rating Agency, Financial law, Nationally recognized statistical rating organization, Credit rating agency, Collateralized loan obligation, Syndicated loan, Money, Finance, Economy, Loans, Kroll Bond Rating Agency, Financial law, Nationally recognized statistical rating organization, Credit rating agency, Collateralized loan obligation, Syndicated loan

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure in sectors that, in KBRAs opinion, are the most at risk due to the 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 in sectors that, in KBRAs opinion, are the most at risk due to the coronavirus (COVID-19) pandemic.
  • As the virus has implications for a multitude of issuers across a wide swathe of corporate sectors, KBRA is assessing the potential impact on CLOs.
  • The transactions are generally collateralized by portfolios of leveraged loans that are diversified across corporate sectors.
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

BOK Financial bolsters Syndications desk with strategic new hire

Retrieved on: 
Tuesday, February 18, 2020
BOK Financial Corporation, Economy, Geography of Oklahoma, Bok, Tulsa, Oklahoma, Syndicated loan

TULSA, Okla., Feb. 18, 2020 (GLOBE NEWSWIRE) -- BOK Financial (NASDAQ: BOKF), has added industry-veteran Evans Swann as the managing director of Loan Syndications for BOK Financial.

Key Points: 
  • TULSA, Okla., Feb. 18, 2020 (GLOBE NEWSWIRE) -- BOK Financial (NASDAQ: BOKF), has added industry-veteran Evans Swann as the managing director of Loan Syndications for BOK Financial.
  • He will be responsible for all syndicated loans across BOK Financial and add further depth to our syndications efforts in energy banking.
  • BOK Financial Corporation is a more than $40 billion regional financial services company headquartered in Tulsa, Oklahoma with more than $80 billion in assets under management and administration.
  • BOK Financial Corporation's holdings include BOKF, NA; BOK Financial Securities, Inc., BOK Financial Private Wealth, and BOK Financial Insurance, Inc. BOKF, NA operates TransFund, Cavanal Hill Investment Management and BOK Financial Asset Management, Inc. BOKF, NA operates banking divisions across eight states as: Bank of Albuquerque; Bank of Oklahoma; Bank of Texas and BOK Financial (in Arizona, Arkansas, Colorado, Kansas and Missouri); as well as having limited purpose offices Nebraska, Milwaukee and Connecticut.

Lilis Energy Receives Extension on Initial Borrowing Base Deficiency Payment and Signs Purchase and Sale Agreement to Divest Certain Assets

Retrieved on: 
Friday, February 14, 2020
Economy, Finance, Money, Debt, Personal finance, Revolving credit, Credit, Borrowing base, Financial law, Syndicated loan

The amendment to the revolving credit agreement provides for an extension of the first and second installment payments from February 18, 2020 to February 28, 2020.

Key Points: 
  • The amendment to the revolving credit agreement provides for an extension of the first and second installment payments from February 18, 2020 to February 28, 2020.
  • Proceeds will be used to fund a substantial portion of the borrowing base deficiency with the balance to be used for general corporate purposes.
  • The Company will continue to consider additional transactions to fund repayments of the borrowing base deficiency on a timely basis.
  • If the Company is unable to repay the borrowing base deficiency as and when required under the revolving credit agreement, an event of default would occur under the revolving credit agreement.

Guggenheim First Quarter 2020 High-Yield and Bank Loan Outlook: The Relative Value Case for Bank Loans Over High Yield

Retrieved on: 
Tuesday, February 11, 2020
Economy, Finance, Money, United States housing bubble, Private equity, Banking, Loans, Credit risk, High-yield debt, Collateralized debt obligation, Syndicated loan

NEW YORK, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today provided its First Quarter 2020 High-Yield and Bank Loan Outlook .

Key Points: 
  • NEW YORK, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today provided its First Quarter 2020 High-Yield and Bank Loan Outlook .
  • Titled The Relative Value Case for Bank Loans Over High Yield, the report discusses the investment merits of leveraged loans and high-yield corporate bonds.
  • While it remains prudent to stay defensive, some areas of the bank loan market offer such an opportunity.
  • Nevertheless, investors should be aware of refinancing risk in BB loans and downgrade risk in single B loans.