Collateral

FundingShield Announces Integrated Title Fraud Prevention Services on CoreLogic’s Digital Mortgage Platform

Retrieved on: 
Wednesday, February 21, 2024

FundingShield , a market-leading fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into a relationship with CoreLogic ®, a leader in global property information, analytics and data-enabled solutions, to provide comprehensive title fraud solutions via a seamless API integration to the CoreLogic Digital Mortgage Platform™.

Key Points: 
  • FundingShield , a market-leading fintech providing plug-and-play solutions to manage risk, compliance, and fraud prevention, has entered into a relationship with CoreLogic ®, a leader in global property information, analytics and data-enabled solutions, to provide comprehensive title fraud solutions via a seamless API integration to the CoreLogic Digital Mortgage Platform™.
  • View the full release here: https://www.businesswire.com/news/home/20240221046714/en/
    FundingShield Announces Integrated Title Fraud Prevention Services on CoreLogic’s Digital Mortgage Platform (Graphic: Business Wire)
    Wire and title fraud risk reached an all-time high in Q4 2023 with 51.8% of transactions having issues that led to a risk of wire and title fraud ( citation ).
  • With this new integration, CoreLogic Digital Mortgage Platform™ clients can now access FundingShield’s cost-saving and risk-reducing ecosystem of applications to protect against wire fraud and efficiently manage their risk and compliance as part of their existing mortgage closing workflows.
  • “Wire fraud prevention is a growing challenge and rising priority for CoreLogic clients,” said Bob Jennings , Executive, Collateral & Risk Solutions at CoreLogic.

Arevon Secures $1.1 Billion Financial Close for Eland 2 Solar-plus-Storage Project

Retrieved on: 
Thursday, February 22, 2024

NEW YORK and SCOTTSDALE, Ariz., Feb. 22, 2024 /PRNewswire/ -- Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, today announced it has secured more than $1 billion in aggregate financing commitments for its Eland 2 Solar-plus-Storage Project in Kern County, California. The 374 megawatt (MWdc) solar project coupled with 150 MW/600 megawatt hours (MWh) of energy storage is under early-stage construction and is anticipated to come online in Q1 2025.

Key Points: 
  • Arevon obtained $654 million of debt financing including a construction-to-term loan, a tax equity bridge loan, and letter of credit facilities.
  • Daniel Murphy, Director of Project Finance at Arevon, remarked: "The Eland 2 financing is an amazing accomplishment after Eland 1 which achieved financial close in 2022.
  • Eland 2 , combined with the project's first phase, Eland 1 , collectively represent one of the largest power plants in Arevon's portfolio.
  • "The Eland projects highlight our team's financial strength, industry expertise, and thoughtful approach to fostering a sustainable energy infrastructure.

KBRA Assigns Preliminary Ratings to Gracie Point International Funding 2024-1, LLC, Series 2024-1

Retrieved on: 
Tuesday, February 13, 2024

KBRA assigns preliminary ratings to four classes of notes issued by Gracie Point International Funding 2024-1, LLC, Series 2024-1.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by Gracie Point International Funding 2024-1, LLC, Series 2024-1.
  • Gracie Point, formed in February 2010, is in the business of financing life insurance policy premium payments.
  • Gracie Point’s clients are high net worth individuals, procuring or having procured life insurance for estate planning or business purposes.
  • This transaction is secured by a special unit of beneficial ownership interest (SUBI) of Gracie Point Collateral Trust (the Collateral Trust).

KBRA Assigns Preliminary Ratings to Gracie Point International Funding 2024-1, LLC, Series 2024-1

Retrieved on: 
Tuesday, February 13, 2024

KBRA assigns preliminary ratings to four classes of notes issued by Gracie Point International Funding 2024-1, LLC, Series 2024-1.

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by Gracie Point International Funding 2024-1, LLC, Series 2024-1.
  • Gracie Point, formed in February 2010, is in the business of financing life insurance policy premium payments.
  • Gracie Point’s clients are high net worth individuals, procuring or having procured life insurance for estate planning or business purposes.
  • This transaction is secured by a special unit of beneficial ownership interest (SUBI) of Gracie Point Collateral Trust (the Collateral Trust).

Arevon and Blackstone Credit & Insurance Close $350 Million Preferred Equity, Debt, and ITC Transfer Financing for Condor Energy Storage Project

Retrieved on: 
Tuesday, February 13, 2024

NEW YORK and SCOTTSDALE, Ariz., Feb. 13, 2024 /PRNewswire/ -- Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, together with Blackstone Credit & Insurance (BXCI), today announced a successful financial close for the 200 megawatt/800 megawatt-hour Condor Energy Storage Project (Condor) currently under construction in Grand Terrace, California.

Key Points: 
  • The project will be capable of providing firming capacity, enhancing grid reliability and stability alongside increased adoption of renewable energy resources.
  • Blackstone's preferred equity investment in Condor is structured to simplify the monetization of tax credits, eliminating the need for traditional tax equity financing.
  • Zachary Rubenstein, Managing Director in the Blackstone Credit & Insurance Sustainable Resources Group, commented "Arevon is a world-class renewable energy company, and we are excited to be their partner on the Condor financing.
  • Arevon secured real estate financing from climate investment firm HASI related to the Condor Energy Storage Project land.

Luzerner Kantonalbank AG implements FM Converge from Finmechanics for its Cloud-based Front-Office, Pricing and Risk Infrastructure

Retrieved on: 
Monday, February 12, 2024

FM Converge is a high performant cross-asset front to back platform that enables banks to run their markets business on a private or public cloud.

Key Points: 
  • FM Converge is a high performant cross-asset front to back platform that enables banks to run their markets business on a private or public cloud.
  • "By integrating FM Converge into LUKB's infrastructure, we were able to provide full cross asset pricing and risk capabilities with a very low technology footprint", says Anindya Sarkar, CEO of Finmechanics.
  • FM Converge offers LUKB future-proof trading software that covers all the functions required for pricing, trading and risk management across all asset classes.
  • A fully hosted and managed environment makes the FM Converge installation highly scalable and responsive to fluctuating demand, significantly reducing operational and maintenance cost.

Frigorífico Concepción S.A. Announces Consent Solicitation

Retrieved on: 
Friday, February 2, 2024

ASUNCIÓN, Paraguay, Feb. 2, 2024 /PRNewswire/ -- Frigorífico Concepción S.A. (the "Company") hereby announces the commencement of its solicitation of consents (the "Consent Solicitation") to holders of its 7.700% Senior Secured Notes due 2028 for amendments to certain provisions of the Indenture governing the 2028 Notes, dated as of July 21, 2021 (the "Indenture"), among the Company, as Issuer, Frigorífico BFC S.A. (the "Bolivian Guarantor"), as Guarantor, The Bank of New York Mellon, as Trustee, Registrar and Paying Agent (the "Trustee"), and GLAS Americas LLC, as collateral agent (the "Collateral Agent").

Key Points: 
  • As of the date of the Consent Solicitation Statement, US$300,000,000 in aggregate principal amount of the 2028 Notes remains outstanding.
  • The Concurrent New Notes Offering is being conducted concurrently with the Consent Solicitation and is conditional upon the consummation of the Consent Solicitation.
  • The Expiration Time for the Consent Solicitation is 5:00 p.m., New York City time, on February 9, 2024 (as such time may be extended by Frigorífico Concepción S.A. in its sole discretion, the "Expiration Time").
  • BofA Securities, Inc. and J.P. Morgan Securities LLC are the Solicitation Agents in connection with the Consent Solicitation.

Dundee Corporation Announces Intention to Commence a Substantial Issuer Bid for Up to C$20,000,005 in Value of its Series 3 Preferred Shares

Retrieved on: 
Monday, November 20, 2023

As part of this process, the Corporation has taken significant steps to streamline its capital structure and strengthen its balance sheet.

Key Points: 
  • As part of this process, the Corporation has taken significant steps to streamline its capital structure and strengthen its balance sheet.
  • All Series 3 Shares purchased by the Corporation under the Offer will be cancelled in due course.
  • As of November 20, 2023, the Corporation had 1,639,022 Series 3 Shares issued and outstanding.
  • The Series 3 Shares are listed and posted for trading on the Toronto Stock Exchange (the “TSX”) under the symbol “DC.PR.D”.

Blacksheep Trust Files Partial Assignment of $1 Billion Dollar Gold Backed Bond to Novo Integrated Sciences

Retrieved on: 
Tuesday, December 19, 2023

Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”) announces today Blacksheep Trust (“Blacksheep”), a New York-based private express trust settled for the purposes of Benevolent Services with (i) a 33% allocation to charitable services, and (ii) 67% allocation to social economic development, has filed a UCC-3 Financing Statement Amendment with the State of New York, providing partial assignment of the $1 Billion Dollar Gold-Bullion backed Bond (the “Bond”) to Novo.

Key Points: 
  • Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”) announces today Blacksheep Trust (“Blacksheep”), a New York-based private express trust settled for the purposes of Benevolent Services with (i) a 33% allocation to charitable services, and (ii) 67% allocation to social economic development, has filed a UCC-3 Financing Statement Amendment with the State of New York, providing partial assignment of the $1 Billion Dollar Gold-Bullion backed Bond (the “Bond”) to Novo.
  • The Gold-backed Bond is a 20-year instrument earning 12.5 percent simple interest per annum.
  • The UCC-3 filing provides for the partial assignment and transfer of the full face-value of the Bond to Novo for a maximum term of 15-years without the benefit of annual interest.
  • As previously disclosed, Novo and Blacksheep entered into a Master (Asset Transfer) Agreement, dated September 27, 2023, in which Blacksheep agreed to transfer to the Company certain collateral equal to $1 billion and controlled by Blacksheep (the “Collateral”).

The Province of Tierra del Fuego Announces Commencement of Consent Solicitation

Retrieved on: 
Friday, October 27, 2023

In accordance with the terms of the Indenture, the Province requires the Requisite Consents to successfully consummate the Consent Solicitation.

Key Points: 
  • In accordance with the terms of the Indenture, the Province requires the Requisite Consents to successfully consummate the Consent Solicitation.
  • The Province also reserves the right in its sole discretion to shorten the Consent Solicitation, as described above.
  • The Consent Solicitation is only being made pursuant to the Consent Solicitation Statement.
  • If a jurisdiction requires that the Consent Solicitation be made by a licensed broker or agent and the Consent Solicitation Agents or any affiliate of the Consent Solicitation Agents is a licensed broker or agent in that jurisdiction, the Consent Solicitation shall be deemed to be made by the Consent Solicitation Agents or such affiliate on behalf of the Province in that jurisdiction.