Subordinated debt

Turkiye Garanti Bankasi A.S.: Announcement regarding Fitch Ratings

Retrieved on: 
Wednesday, April 10, 2024
Rating, Subordinated debt, RWP, Fitch Ratings, IDR, Woodwind instrument, Outlooks

Fitch Ratings has upgraded Garanti BBVA’s Long-Term Foreign Currency and Local-Currency Issuer Default Ratings (IDRs) to “B” from “B-“ and to “B+” from “B”, respectively and revised the Outlooks to “Positive” from “Stable” on March 15, 2024.

Key Points: 
  • Fitch Ratings has upgraded Garanti BBVA’s Long-Term Foreign Currency and Local-Currency Issuer Default Ratings (IDRs) to “B” from “B-“ and to “B+” from “B”, respectively and revised the Outlooks to “Positive” from “Stable” on March 15, 2024.
  • The rating action follows the upgrade of Türkiye's Long-Term IDR to “B+/Positive” from “B/Stable” on March 8th, 2024.
  • The agency has also upgraded the Bank’s Long-Term Senior Unsecured Debt and Subordinated Debt ratings to “B” from “B-“ and to “B-“ from “CCC+”, respectively and the Shareholder Support rating to “b” from “b-“.
  • The Bank’s Viability Rating has also been placed on Rating Watch Positive (RWP) at “b”.

BRI Strengthens Commitment to Sustainable Finance with New Green Bonds

Retrieved on: 
Wednesday, October 4, 2023
IDR, Note, BRI, Financial services, BBRI, Green bond, SME, IDX, Ahmad, Environmental resource management, Subordinated debt, Multimedia, Green economy, Indonesia Stock Exchange, State Street Bank and Trust Company, Government, Sustainability Bonds, G20, Financial inclusion, ESG, Transport, Conference, Cryptocurrency, Security (finance), Renewable energy

The 2023 Green Bonds Phase II was oversubscribed 2.66 times during the book-building period, reaffirming BRI as Indonesia's largest domestic green bonds issuer after an IDR 5 trillion issuance in 2022.

Key Points: 
  • The 2023 Green Bonds Phase II was oversubscribed 2.66 times during the book-building period, reaffirming BRI as Indonesia's largest domestic green bonds issuer after an IDR 5 trillion issuance in 2022.
  • Proceeds from the Green Bonds issuance will mainly support renewable energy, energy efficiency, pollution control, eco-friendly transportation, and sustainable land use projects.
  • This highlights BRI's commitment to a Green Economy and Sustainable Principles, with previous issuances including Sustainable Bonds, Sustainable-Linked Loans, Medium-Term Notes, and Subordinated Debt.
  • "The Green Bonds issuance also saw demand from retail investors, showcasing BRI's commitment to the government's financial inclusion strategy.

PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.095 per Share

Retrieved on: 
Tuesday, August 3, 2021
Money, Finance, Economy, Loans, Debt, Credit, Bankruptcy, Financial law, Second lien loan, Secured loan, Subordinated debt, Lien

NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for August 2021 of $0.095 per share, payable on September 1, 2021 to stockholders of record as of August 18, 2021.

Key Points: 
  • NEW YORK, Aug. 03, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for August 2021 of $0.095 per share, payable on September 1, 2021 to stockholders of record as of August 18, 2021.
  • ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
    PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt.
  • PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
  • PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein.

Farmers & Merchants Bancorp, Inc. Announces Completion of Subordinated Note Offering

Retrieved on: 
Monday, August 2, 2021
Finance, Money, Economy, Bank, Economic history of Italy, Subordinated debt

The Company intends to use the net proceeds from the Offering for general corporate purposes, including financing acquisitions and organic growth.

Key Points: 
  • The Company intends to use the net proceeds from the Offering for general corporate purposes, including financing acquisitions and organic growth.
  • I am pleased to announce the successful completion of our subordinated note offering, said Lars B. Eller, President and Chief Executive Officer.
  • About Farmers & Merchants State Bank:
    The Farmers & Merchants State Bank is a local independent community bank that has been serving Northwest Ohio and Northeast Indiana since 1897.
  • Farmers & Merchants Bancorp, Inc. (F&M) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995.

KBRA Assigns Ratings to Silvergate Capital Corporation

Retrieved on: 
Thursday, July 22, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Credit, Bond credit rating, Credit rating agency, Nationally recognized statistical rating organization, Credit rating, Unsecured debt, Debt, Subordinated debt, KBRA

Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a preferred stock rating of BBB-, and a short-term debt rating of K3 to Silvergate Capital Corporation (NYSE: SI) (Silvergate or the company).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a preferred stock rating of BBB-, and a short-term debt rating of K3 to Silvergate Capital Corporation (NYSE: SI) (Silvergate or the company).
  • In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 to lead subsidiary, Silvergate Bank.
  • Kroll Bond Rating Agency, LLC (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.

AM Best Assigns Indicative Issue Credit Ratings to Lincoln National Corporation’s Subordinated Notes

Retrieved on: 
Wednesday, July 21, 2021
Professional services, Finance, Finance, Money, Economy, Credit, Financial law, Debt, Subordinated debt, Security, Fixed-income securities

AM Best has assigned indicative Long-Term Issue Credit Ratings (Long-Term IR) of bbb+ (Good) to the subordinated notes of Lincoln National Corporation (LNC) (headquartered in Radnor, PA) [NYSE: LNC].

Key Points: 
  • AM Best has assigned indicative Long-Term Issue Credit Ratings (Long-Term IR) of bbb+ (Good) to the subordinated notes of Lincoln National Corporation (LNC) (headquartered in Radnor, PA) [NYSE: LNC].
  • The subordinated notes will rank senior to the capital securities following their issuance, and accordingly, the capital securities will be subordinated and junior to the subordinated notes in right of payment.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .

Mueller Industries, Inc. Reports Second Quarter 2021 Earnings

Retrieved on: 
Tuesday, July 20, 2021
Other Manufacturing, Manufacturing, Finance, Economy, New York Stock Exchange, Premium, Quarter, Comex, Subordinated debt

Mueller Industries, Inc. (NYSE: MLI) announces 2021 second quarter results.

Key Points: 
  • Mueller Industries, Inc. (NYSE: MLI) announces 2021 second quarter results.
  • Average COMEX copper for the second quarter was $4.43 per pound, an 82 percent increase over the second quarter of last year.
  • During the quarter, we retired our Subordinated Debentures ($284.4 million) and recognized an expense of $5.7 million for a redemption premium.
  • Extended lead times and abnormally high backlogs are expected to continue well into the third quarter, as many of these conditions persist.

Belden Announces Pricing of €300 Million Private Offering of 3.375% Senior Subordinated Notes

Retrieved on: 
Wednesday, July 14, 2021
Data management, Technology, Mobile, Wireless, Audio, Video, Networks, Internet, Finance, Economy, Belden, Subordinated debt, Trade, Indenture

Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced the pricing of its private offering (the Notes Offering) of 300 million in aggregate principal amount of 3.375% senior subordinated notes due 2031 (the Notes) at an issue price of 100% of their principal amount.

Key Points: 
  • Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced the pricing of its private offering (the Notes Offering) of 300 million in aggregate principal amount of 3.375% senior subordinated notes due 2031 (the Notes) at an issue price of 100% of their principal amount.
  • Belden expects the Notes Offering to close on July 28, 2021, subject to customary closing conditions.
  • Belden intends to use the net proceeds from the Notes Offering along with cash on hand to fund the redemption in full of its 2.875% senior subordinated notes due 2025 (the 2025 Notes), pursuant to the terms of the Indenture relating to the 2025 Notes.
  • Belden expects the redemption date for the 2025 Notes to be on or about September 15, 2021.

Belden Announces €300 Million Private Offering of Senior Subordinated Notes

Retrieved on: 
Wednesday, July 14, 2021
Data management, Technology, Mobile, Wireless, Networks, Internet, Hardware, Belden, Subordinated debt, Economy, Trade

Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced that, subject to market conditions, it intends to offer 300 million in aggregate principal amount of senior subordinated notes due 2031 (the Notes) for sale to eligible purchasers in a private offering (the Notes Offering).

Key Points: 
  • Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced that, subject to market conditions, it intends to offer 300 million in aggregate principal amount of senior subordinated notes due 2031 (the Notes) for sale to eligible purchasers in a private offering (the Notes Offering).
  • Belden intends to use the net proceeds from the Notes Offering along with cash on hand to fund the redemption in full of its 2.875% senior subordinated notes due 2025 (the 2025 Notes), pursuant to the terms of the Indenture relating to the 2025 Notes.
  • In connection with the Notes Offering, the initial purchasers may engage in stabilizing transactions with a view to supporting the market price of the Notes at a level higher than that which might otherwise prevail.
  • Belden, Belden Sending All The Right Signals, and the Belden logo are trademarks or registered trademarks of Belden Inc. or its affiliated companies in the United States and other jurisdictions.

PennantPark Floating Rate Capital Ltd. Announces Monthly Distribution of $0.095 per Share

Retrieved on: 
Friday, July 2, 2021
Money, Finance, Economy, Loans, Debt, Credit, Bankruptcy, Financial law, Second lien loan, Secured loan, Subordinated debt, Lien

NEW YORK, July 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for July 2021 of $0.095 per share, payable on August 2, 2021 to stockholders of record as of July 19, 2021.

Key Points: 
  • NEW YORK, July 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for July 2021 of $0.095 per share, payable on August 2, 2021 to stockholders of record as of July 19, 2021.
  • ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
    PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt.
  • PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.
  • PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein.