Subordinated debt

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

Retrieved on: 
Friday, January 3, 2020

NEW YORK, Jan. 03, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the Company) (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for January 2020 of $0.095 per share, payable on February 3, 2020 to stockholders of record as of January 16, 2020.

Key Points: 
  • NEW YORK, Jan. 03, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the Company) (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for January 2020 of $0.095 per share, payable on February 3, 2020 to stockholders of record as of January 16, 2020.
  • 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.

Capitala Finance Corp. Announces Distributions

Retrieved on: 
Thursday, January 2, 2020

The Company has adopted an opt-out distribution reinvestment plan (DRIP) that provides for reinvestment of distributions on behalf of its shareholders, unless a shareholder elects to receive cash.

Key Points: 
  • The Company has adopted an opt-out distribution reinvestment plan (DRIP) that provides for reinvestment of distributions on behalf of its shareholders, unless a shareholder elects to receive cash.
  • Capitala Finance Corp. is a business development company that invests primarily in first and second lien loans, subordinated debt and, to a lesser extent, equity securities issued by lower and traditional middle market companies.
  • The Company is managed by Capitala Investment Advisors, LLC.
  • For more information, definition and details visit Capitala Groups website atwww.capitalagroup.com.

Avidbank Holdings, Inc. Announces Completion of $22 Million Private Placement of Subordinated Notes

Retrieved on: 
Monday, December 23, 2019

The Notes have been structured to qualify as Tier 2 capital at the Company level for regulatory purposes.

Key Points: 
  • The Notes have been structured to qualify as Tier 2 capital at the Company level for regulatory purposes.
  • The Company used proceeds from the placement of the Notes to repurchase $12 million of subordinated notes previously outstanding.
  • Chairman and Chief Executive Officer, Mark D. Mordell, stated, "We are very pleased to announce the successful placement and repurchase of our subordinated debt.
  • Sandler O'Neill + Partners, L.P. acted as sole placement agent for the private placement of the subordinated notes.

Reliant Bancorp, Inc. Announces Completion of $60.0 Million Subordinated Notes Offering

Retrieved on: 
Friday, December 13, 2019

Reliant Bancorp, Inc. (Reliant) (Nasdaq: RBNC), the parent company for Reliant Bank, today announced the completion of an offering of $60.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes (the Notes) to certain qualified institutional buyers and institutional accredited investors in a private placement transaction.

Key Points: 
  • Reliant Bancorp, Inc. (Reliant) (Nasdaq: RBNC), the parent company for Reliant Bank, today announced the completion of an offering of $60.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes (the Notes) to certain qualified institutional buyers and institutional accredited investors in a private placement transaction.
  • The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for Reliant.
  • The Notes will initially bear interest at a fixed annual rate of 5.125%, payable semi-annually in arrears, to but excluding December 15, 2024.
  • We are very pleased with the strong market demand for and the execution of this subordinated debt offering, said DeVan Ard, Jr., Chairman, President, and Chief Executive Officer of Reliant.

KBRA Assigns Ratings to Avidbank Holdings, Inc.

Retrieved on: 
Thursday, December 12, 2019

Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 to San Jose, California based Avidbank Holdings, Inc. (OTC: AVBH) (Avid or the company).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 to San Jose, California based Avidbank Holdings, Inc. (OTC: AVBH) (Avid or the company).
  • Additionally, 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 Avidbank (the bank).
  • Avids ratings are supported by its solid management team, which has extensive industry knowledge, particularly in the context of its business lines.
  • The ratings are based upon KBRAs Bank & Bank Holding Company Global Rating Methodology published on October 16, 2019.

Customers Bancorp Announces Pricing of $65 Million Subordinated Notes Offering Rated “BBB-” by Kroll Bond Rating Agency*

Retrieved on: 
Wednesday, December 4, 2019

Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively the Company or Customers), today announced the pricing of its underwritten public offering of $65 million aggregate principal amount of 5.375% Subordinated Notes due 2034 (the Subordinated Notes).

Key Points: 
  • Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively the Company or Customers), today announced the pricing of its underwritten public offering of $65 million aggregate principal amount of 5.375% Subordinated Notes due 2034 (the Subordinated Notes).
  • The Subordinated Notes received an investment grade rating of BBB- from Kroll Bond Rating Agency, Inc., an independent, unaffiliated rating agency.
  • Customers expects to use the net proceeds for general corporate purposes, which may include working capital and the funding of organic growth at Customers Bank.
  • The Subordinated Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof.

Customers Bancorp Commences Public Offering of Subordinated Notes Rated “BBB-” by Kroll Bond Rating Agency*

Retrieved on: 
Wednesday, December 4, 2019

Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively the Company or Customers), today announced that it has commenced an underwritten public offering of $35 million aggregate principal amount of Subordinated Notes due 2034 (the Subordinated Notes).

Key Points: 
  • Customers Bancorp, Inc. (NYSE: CUBI) the parent company of Customers Bank and its operating division BankMobile (collectively the Company or Customers), today announced that it has commenced an underwritten public offering of $35 million aggregate principal amount of Subordinated Notes due 2034 (the Subordinated Notes).
  • The Subordinated Notes received an investment grade rating of BBB- from Kroll Bond Rating Agency, Inc., an independent, unaffiliated rating agency.
  • If the offering is completed, the Subordinated Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof.
  • If the offering is completed and the application is approved, trading in the Subordinated Notes on the New York Stock Exchange is expected to begin within 30 days after the Subordinated Notes are first issued.

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

Retrieved on: 
Tuesday, December 3, 2019

NEW YORK, Dec. 03, 2019 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for December 2019 of $0.095 per share, payable on January 2, 2020 to stockholders of record as of December 19, 2019.

Key Points: 
  • NEW YORK, Dec. 03, 2019 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for December 2019 of $0.095 per share, payable on January 2, 2020 to stockholders of record as of December 19, 2019.
  • 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.

AXIS Capital Prices Offering of $425.0 Million of 4.900% Fixed-Rate Reset Junior Subordinated Notes Due 2040

Retrieved on: 
Tuesday, December 3, 2019

AXIS Capital Holdings Limited (AXIS Capital or the Company) (NYSE:AXS) announced today that its subsidiary, AXIS Specialty Finance LLC (the Issuer), has priced an offering of $425.0 million aggregate principal amount of 4.900% Fixed-Rate Reset Junior Subordinated Notes due 2040, fully and unconditionally guaranteed on a junior subordinated basis by AXIS Capital, pursuant to an effective shelf registration statement.

Key Points: 
  • AXIS Capital Holdings Limited (AXIS Capital or the Company) (NYSE:AXS) announced today that its subsidiary, AXIS Specialty Finance LLC (the Issuer), has priced an offering of $425.0 million aggregate principal amount of 4.900% Fixed-Rate Reset Junior Subordinated Notes due 2040, fully and unconditionally guaranteed on a junior subordinated basis by AXIS Capital, pursuant to an effective shelf registration statement.
  • The offering is expected to close on December 10, 2019, subject to customary closing conditions.
  • Wells Fargo Securities, LLC and Citigroup Global Markets Inc. are the joint book-running managers for the offering.
  • A registration statement relating to the offering has been filed with the U.S. Securities and Exchange Commission and is effective.

UPP Announces Financial Close on New £43m Deal

Retrieved on: 
Monday, December 2, 2019

The deal takes the number of rooms operated by UPP on the Bay Campus to 2,432 and boosts UPPs portfolio of over 35,000 rooms in operation or under construction through long-term partnerships with 15 leading UK universities.

Key Points: 
  • The deal takes the number of rooms operated by UPP on the Bay Campus to 2,432 and boosts UPPs portfolio of over 35,000 rooms in operation or under construction through long-term partnerships with 15 leading UK universities.
  • UPP Group Holdings Limited and its Shareholders will invest 4.7 million of subordinated debt and equity.
  • UPP has been delivering facilities management services to the 411-room scheme for St. Modwen through its subsidiary, UPP Residential Services Limited, since the college opened in February 2019.
  • Richard Bienfait, Chief Executive Officer at UPP, said: This latest transaction is testament to the strength of our long-term partnership with Swansea University.