Subordinated debt

WOW Unlimited Media Inc. Announces Closing of First Tranche of Non-brokered Private Placement of Unsecured Convertible Debentures

Retrieved on: 
Tuesday, November 17, 2020

or the Company) (TSXV: WOW; OTCQX: WOWMF) is pleased to announce that it has closed the first tranche (the First Tranche Closing) of its previously announced non-brokered private placement offering of unsecured subordinated convertible debentures (the Debentures) for gross proceeds of $2,639,000.

Key Points: 
  • or the Company) (TSXV: WOW; OTCQX: WOWMF) is pleased to announce that it has closed the first tranche (the First Tranche Closing) of its previously announced non-brokered private placement offering of unsecured subordinated convertible debentures (the Debentures) for gross proceeds of $2,639,000.
  • issued 2,639 Debentures at an issue price of $1,000 per $1,000 principal amount of Debentures.
  • The Debentures were issued pursuant to the terms of a debenture indenture entered into between the WOW!
  • The investors subscribing for Debentures in the Second Tranche are fully comprised of holders of the Companys existing convertible debentures which mature on December 14, 2020 (the Existing Debentures).

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

Retrieved on: 
Tuesday, November 3, 2020

NEW YORK, Nov. 03, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for November 2020 of $0.095 per share, payable on December 1, 2020 to stockholders of record as of November 17, 2020.

Key Points: 
  • NEW YORK, Nov. 03, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for November 2020 of $0.095 per share, payable on December 1, 2020 to stockholders of record as of November 17, 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.

Communities First Financial Corporation Closes Private Placement of Subordinated Notes

Retrieved on: 
Tuesday, November 3, 2020

FRESNO, Calif., Nov. 03, 2020 (GLOBE NEWSWIRE) -- Communities First Financial Corporation (the Company) (OTCQX: CFST), the parent company of Fresno First Bank (the Bank), today announced the closing of its private placement of $30.0 million aggregate principal amount of its 4.25%Fixed-to-FloatingRate Subordinated Notes due 2030 (the 2030 Notes) and $10.0 million aggregate principal amount of its 4.25% Fixed-to-FloatingRate Subordinated Notes due 2035 (the 2035 Notes).

Key Points: 
  • FRESNO, Calif., Nov. 03, 2020 (GLOBE NEWSWIRE) -- Communities First Financial Corporation (the Company) (OTCQX: CFST), the parent company of Fresno First Bank (the Bank), today announced the closing of its private placement of $30.0 million aggregate principal amount of its 4.25%Fixed-to-FloatingRate Subordinated Notes due 2030 (the 2030 Notes) and $10.0 million aggregate principal amount of its 4.25% Fixed-to-FloatingRate Subordinated Notes due 2035 (the 2035 Notes).
  • Both the 2030 Notes and the 2035 Notes are intended to qualify as Tier 2 capital for regulatory purposes.
  • Davidson & Co. and Performance Trust Capital Partners, LLC, acted as joint placement agents for the 2030 Notes.
  • The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

KBRA Assigns Ratings to Cape Cod Five Mutual Company

Retrieved on: 
Wednesday, October 21, 2020

Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 for Hyannis, Massachusetts-based Cape Cod Five Mutual Company (Cape Cod Five, CCFMC or the company).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 for Hyannis, Massachusetts-based Cape Cod Five Mutual Company (Cape Cod Five, CCFMC 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 for its subsidiary, The Cape Cod Five Cents Savings Bank.
  • The ratings are supported by an experienced management team that KBRA views as capable of executing stable growth going forward.
  • The ratings are based on KBRAs Bank & Bank Holding Company Global Rating Methodology published on October 16, 2019.

AM Best Comments on Credit Ratings of Peak Reinsurance Company Limited Following Disclosure on Securities Issuance

Retrieved on: 
Wednesday, October 21, 2020

AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of Peak Reinsurance Company Limited (Peak Re) (Hong Kong) and its subsidiary, Peak Reinsurance AG (Switzerland), remain unchanged following the disclosure of an issuance of perpetual subordinated guaranteed capital securities (securities).

Key Points: 
  • AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of a- of Peak Reinsurance Company Limited (Peak Re) (Hong Kong) and its subsidiary, Peak Reinsurance AG (Switzerland), remain unchanged following the disclosure of an issuance of perpetual subordinated guaranteed capital securities (securities).
  • These securities will be issued by Peak Re (BVI) Holding Limited and be unconditionally and irrevocably guaranteed on a subordinated basis by Peak Re.
  • AM Best views the issuance to further strengthen Peak Res risk-adjusted capitalisation over the intermediate term and at the current rating level.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .

LINKBANCORP, Inc. Announces Completion of $5 Million Common Stock Offering

Retrieved on: 
Tuesday, October 20, 2020

LINKBANCORP, Inc. (OTC Pink: LNKB) (the Company), the parent company for LINKBANK, announced that it has completed an oversubscribed private placement offering of $5 million in common stock, primarily from accredited individual investors in LINKBANKs Southcentral Pennsylvania market.

Key Points: 
  • LINKBANCORP, Inc. (OTC Pink: LNKB) (the Company), the parent company for LINKBANK, announced that it has completed an oversubscribed private placement offering of $5 million in common stock, primarily from accredited individual investors in LINKBANKs Southcentral Pennsylvania market.
  • The Company issued 421,292 shares in the offering at a price of $12.00 per share.
  • The Company also completed a $20 million subordinated debt offering in September 2020.
  • LINKBANCORP, Inc. common stock is traded over the counter (OTC Pink) under the symbol LNKB.

The Community Financial Corporation Announces Completion of $20 Million Subordinated Notes Offering

Retrieved on: 
Wednesday, October 14, 2020

WALDORF, Md., Oct. 14, 2020 (GLOBE NEWSWIRE) -- The Community Financial Corporation (the Company) (NASDAQ- TCFC), the holding company for Community Bank of the Chesapeake (the Bank), today announced the completion of its private placement of $20 million of its 4.75% Fixed-to-Floating Rate Subordinated Notes due 2030 (the Notes) to certain qualified institutional buyers and accredited investors.

Key Points: 
  • WALDORF, Md., Oct. 14, 2020 (GLOBE NEWSWIRE) -- The Community Financial Corporation (the Company) (NASDAQ- TCFC), the holding company for Community Bank of the Chesapeake (the Bank), today announced the completion of its private placement of $20 million of its 4.75% Fixed-to-Floating Rate Subordinated Notes due 2030 (the Notes) to certain qualified institutional buyers and accredited investors.
  • The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for the Company.
  • Kilpatrick Townsend & Stockton LLP served as legal counsel to the Company and Holland & Knight LLP served as legal counsel to the placement agent.
  • The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.

Pathfinder Bancorp, Inc. Announces Completion of $25 Million Private Placement of Subordinated Notes

Retrieved on: 
Wednesday, October 14, 2020

OSWEGO, N.Y., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Pathfinder Bancorp, Inc. (Company) (NASDAQ: PBHC), the holding company for Pathfinder Bank (Bank), today announced the completion of its private placement of $25 million of its 5.50% Fixed to Floating Rate Subordinated Notes (the Notes) to certain qualified institutional buyers and accredited institutional investors.

Key Points: 
  • OSWEGO, N.Y., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Pathfinder Bancorp, Inc. (Company) (NASDAQ: PBHC), the holding company for Pathfinder Bank (Bank), today announced the completion of its private placement of $25 million of its 5.50% Fixed to Floating Rate Subordinated Notes (the Notes) to certain qualified institutional buyers and accredited institutional investors.
  • The Company may redeem the Notes at par, in whole or in part, at its option, anytime beginning on October 15, 2025.
  • The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for the Company.
  • Thomas W. Schneider, President and CEO of the Company, stated, We are pleased with the interest in, and successful closing of, our subordinated debt offering.

PennantPark Floating Rate Capital Ltd. Schedules Earnings Release of Fourth Fiscal Quarter 2020 Results

Retrieved on: 
Wednesday, October 7, 2020

NEW YORK, Oct. 07, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE:PFLT) announced that it will report results for the fourth fiscal quarter ended September 30, 2020 on Wednesday, November 18, 2020 after the close of the financial markets.

Key Points: 
  • NEW YORK, Oct. 07, 2020 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE:PFLT) announced that it will report results for the fourth fiscal quarter ended September 30, 2020 on Wednesday, November 18, 2020 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.

Leidos Announces Pricing of Senior Unsecured Notes Offering

Retrieved on: 
Monday, October 5, 2020

The Notes will be the senior unsecured obligations of the Issuer and will be fully and unconditionally guaranteed on a senior basis by Leidos.

Key Points: 
  • The Notes will be the senior unsecured obligations of the Issuer and will be fully and unconditionally guaranteed on a senior basis by Leidos.
  • The Notes and the related guarantee will be structurally subordinated to the liabilities of Leidos' and the Issuer's existing and future subsidiaries.
  • The offering is expected to close on Oct. 8, 2020, subject to customary closing conditions.
  • Headquartered in Reston, Va., Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020.