Subordinated debt

PennantPark Floating Rate Capital Ltd. Schedules Earnings Release of Third Fiscal Quarter 2021 Results

Retrieved on: 
Thursday, July 1, 2021
Money, Finance, Economy, Loans, Debt, Credit, Bankruptcy, Financial law, Second lien loan, Secured loan, Subordinated debt, Floating rate

NEW YORK, July 01, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE:PFLT) announced that it will report results for the third fiscal quarter ended June 30, 2021 on Wednesday, August 4, 2021 after the close of the financial markets.

Key Points: 
  • NEW YORK, July 01, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE:PFLT) announced that it will report results for the third fiscal quarter ended June 30, 2021 on Wednesday, August 4, 2021 after the close of the financial markets.
  • 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.

DGAP-News: Ferratum Oyj: Multitude SE successfully places EUR 50 million in perpetual bonds qualifying as IFRS equity

Retrieved on: 
Thursday, June 24, 2021
Finance, Money, Bond, Subordinated debt, Coupon, Government bonds

Helsinki, 24 June 2021 - Multitude SE (ISIN: FI4000106299, WKN: A1W9NS) (the "Issuer") is pleased to announce that it has successfully placed EUR 50,000,000 in subordinated perpetual capital notes, qualifying as IFRS equity, under a framework of EUR 100,000,000 to qualified investors following a European bookbuilding (the "Hybrid Bonds").

Key Points: 
  • Helsinki, 24 June 2021 - Multitude SE (ISIN: FI4000106299, WKN: A1W9NS) (the "Issuer") is pleased to announce that it has successfully placed EUR 50,000,000 in subordinated perpetual capital notes, qualifying as IFRS equity, under a framework of EUR 100,000,000 to qualified investors following a European bookbuilding (the "Hybrid Bonds").
  • The Hybrid Bonds will carry a floating rate coupon of 3 month Euribor + 8.90% and were issued at a price of 99.50% of the nominal amount.
  • In connection with the issuance of Hybrid Bonds, Ferratum Capital Germany purchased EUR 15,629,000 of the 2022 Bonds at a price of 101.50% of the nominal amount and EUR 19,946,000 of the 2023 Bonds at a price of 102.00% of the nominal amount for the 2023 Bonds.
  • As a pioneer in digital and mobile financial services technology, Multitude is at the forefront of the digital banking revolution.

Timbercreek Financial Announces Increase to Previously Announced Bought Deal Offering of Convertible Debentures to $50 Million

Retrieved on: 
Wednesday, June 23, 2021
Finance, Money, Economy, Debt, Credit, Corporate finance, Debenture, Bank, Subordinated debt, Subordination, Timbercreek Asset Management

TORONTO, June 23, 2021 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (Timbercreek Financial or the Company) today announced that, due to strong demand, it has increased the size of the previously announced bought deal offering (the Offering) to $50 million aggregate principal amount of 5.25% convertible unsecured subordinated debentures of the Company due July 31, 2028 (the Debentures) at a price of $1,000 per Debenture.

Key Points: 
  • TORONTO, June 23, 2021 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (Timbercreek Financial or the Company) today announced that, due to strong demand, it has increased the size of the previously announced bought deal offering (the Offering) to $50 million aggregate principal amount of 5.25% convertible unsecured subordinated debentures of the Company due July 31, 2028 (the Debentures) at a price of $1,000 per Debenture.
  • If the over-allotment option is exercised in full, the gross proceeds of the offering will total $55 million.
  • Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate investors.
  • This news release contains forward-looking statements about Timbercreek Financial, including, but not limited to, anticipated sales of the Debentures and the proposed use of proceeds from the offering.

PennantPark Floating Rate Capital Ltd. Appoints Richard Cheung as New Chief Financial Officer

Retrieved on: 
Monday, June 21, 2021
Money, Finance, Economy, Loans, Debt, Credit, Bankruptcy, Corporate finance, Second lien loan, Secured loan, Subordinated debt, Lien

NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) (we, our, PFLT or the Company) announced today that it has appointed Richard Cheung as its Chief Financial Officer and Treasurer, effective June 21, 2021.

Key Points: 
  • NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) (we, our, PFLT or the Company) announced today that it has appointed Richard Cheung as its Chief Financial Officer and Treasurer, effective June 21, 2021.
  • We are extremely pleased that Richard will be joining the Company as our new Chief Financial Officer and a member of our senior management team.
  • ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.
    PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market 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.

Preferred Bank Reports Completion of $150 Million Debt Offering

Retrieved on: 
Wednesday, June 16, 2021
Finance, Money, Economy, Debt, Credit, Equity securities, Corporate finance, Subordinated debt, Credit rating agency, Bank, Preferred stock, Bond

LOS ANGELES, June 16, 2021 (GLOBE NEWSWIRE) -- Preferred Bank (the Bank), (Nasdaq: PFBC), one of the larger independent California banks, announced the completion of a public offering and sale of $150 million in aggregate principal amount of its 3.375% Fixed-to-Floating Rate Subordinated Notes due 2031 (the Notes).

Key Points: 
  • LOS ANGELES, June 16, 2021 (GLOBE NEWSWIRE) -- Preferred Bank (the Bank), (Nasdaq: PFBC), one of the larger independent California banks, announced the completion of a public offering and sale of $150 million in aggregate principal amount of its 3.375% Fixed-to-Floating Rate Subordinated Notes due 2031 (the Notes).
  • The Bank has a BBB+ rating of its subordinated debt from the Kroll Bond Rating Agency.
  • Also, as a result of the redemption of the existing $100 million of subordinated notes, the Bank expects to incur approximately $614,000 in pre-tax debt extinguishment costs in the second quarter of 2021.
  • Preferred Bank offers a broad range of deposit and loan products and services to both commercial and consumer customers.

KBRA Assigns Ratings to Southern BancShares (N.C.), Inc.

Retrieved on: 
Tuesday, June 15, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Credit, Unsecured debt, Subordinated debt, Debt, Credit rating, Bond credit rating

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 for the subsidiary bank, Southern Bank and Trust Company.

Key Points: 
  • 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 for the subsidiary bank, Southern Bank and Trust Company.
  • A strong funding profile also supports SBNCs ratings, with the company being 97% core deposit funded.
  • While ESG factors may influence ratings, it is important to underscore that KBRAs ratings do not incorporate value-based judgments.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

MACIF’s Successful Euro 1,75 bn Issuance Attracted Huge Appetite From European Investors

Retrieved on: 
Tuesday, June 15, 2021
Professional services, Small business, Other Professional Services, Insurance, Finance, Consulting, Finance, Money, Credit, Fixed-income securities, Structured finance, Debt, Tranche, Subordinated debt

MACIF, Ama Groupes affiliate, announces the successful issuance of a multi-tranche 1.75bn subordinated debt issuance comprising:

Key Points: 
  • MACIF, Ama Groupes affiliate, announces the successful issuance of a multi-tranche 1.75bn subordinated debt issuance comprising:
    MACIF has met with over 85 institutional investors over phone calls which took place from 8th to 11th June 2021 in order to present the Groups credit.
  • With more than 400 investors participating into the multi-tranche transaction for a total book size over 12.1bn, this represents the first Euro triple-tranche subordinated from a European insurer.
  • The three days of virtual roadshow conducted as part of this capital increase have again proved the great appetite of investors towards Macif's solid business model.
  • With 8 million policy-holders, it employs 14,000 people and has a turnover of 8 billion euros in France.

MACIF Announces Its Intention to Issue Subordinated Bonds to Finance Aviva France Acquisition

Retrieved on: 
Tuesday, June 8, 2021
Professional services, Small business, Other Professional Services, Insurance, Finance, Consulting, MACIF, Credit, American Medical Association, Subordinated debt

MACIF, Ama Groupes affiliate, announced on 8 June 2021 its intention to raise Euro subordinated debt in the capital market as part of Aviva France acquisition financing.

Key Points: 
  • MACIF, Ama Groupes affiliate, announced on 8 June 2021 its intention to raise Euro subordinated debt in the capital market as part of Aviva France acquisition financing.
  • Ama Groupes management team will conduct investors meetings/calls on 8, 9 and 10 June 2021.
  • Ama Groupe is the mutual protection group resulting from the merger between Asio and Macif.
  • With 8 million policy-holders, it employs 14,000 people and has a turnover of 8 billion euros in France.

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

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

NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for June 2021 of $0.095 per share, payable on July 1, 2021 to stockholders of record as of June 17, 2021.

Key Points: 
  • NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for June 2021 of $0.095 per share, payable on July 1, 2021 to stockholders of record as of June 17, 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.

DTE Energy announces redemption of 2016 Series B 5.375% junior subordinated debentures

Retrieved on: 
Thursday, May 27, 2021
Finance, Money, Economy, Debt, Credit, Corporate finance, Debenture, DTE Energy, New York Stock Exchange, Subordinated debt, DTE, Data terminal equipment

DTE Energy, May 27, 2021 (GLOBE NEWSWIRE) -- DETROIT DTE Energy (NYSE: DTE) announced today, 5/27/2021, the full redemption of all outstanding 2016 Series B 5.375% Junior Subordinated Debentures (NYSE:DTJ).

Key Points: 
  • DTE Energy, May 27, 2021 (GLOBE NEWSWIRE) -- DETROIT DTE Energy (NYSE: DTE) announced today, 5/27/2021, the full redemption of all outstanding 2016 Series B 5.375% Junior Subordinated Debentures (NYSE:DTJ).
  • The 2016 Series B 5.375% Junior Subordinated Debentures will be redeemed on June 30, 2021.
  • The 2016 Series B 5.375% Junior Subordinated Debentures will be called for redemption in minimum denominations of $25 and in multiples of $25.
  • Holders owning 2016 Series B 5.375% Junior Subordinated Debentures through a broker, bank or other nominee should contact that party for information.