Note

ION announces forbearance and amendment related to its revolving credit agreement, forbearance agreement related to its senior secured second priority notes due 2025, and preliminary fourth quarter 2021 revenues of ~$40 million, a 45% increase year-over-y

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Friday, January 14, 2022 - 10:45pm
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ION remains in continuing discussions with PNC and the holders of its 2025 Notes and other indebtedness regarding various strategic alternatives to strengthen its financial position and maximize stakeholder value.

Key Points: 
  • ION remains in continuing discussions with PNC and the holders of its 2025 Notes and other indebtedness regarding various strategic alternatives to strengthen its financial position and maximize stakeholder value.
  • Preliminary fourth quarter 2021 revenues of ~$40 million, a 45% increase year-over-year
    ION also announced that the Company expects fourth quarter 2021 revenues to be approximately $40 million, an increase of 45% year-over-year.
  • While expected fourth quarter 2021 revenues declined by 10% sequentially, second half fiscal year revenues delivered an increase of approximately 150% over the first half years revenues.
  • On December 17, 2021, we announced awards for MarlinTM in the areas of simultaneous operations and country-scale port management.

Hercules Capital Prices Upsized Public Offering of $350.0 Million 3.375% Notes due 2027

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Friday, January 14, 2022 - 10:33pm
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Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company), today announced that it has priced an underwritten public offering of $350.0 million in aggregate principal amount of 3.375% notes due January 2027 (the Notes).

Key Points: 
  • Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company), today announced that it has priced an underwritten public offering of $350.0 million in aggregate principal amount of 3.375% notes due January 2027 (the Notes).
  • The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered and paid for on January 20, 2022.
  • Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, and SMBC Nikko Securities America, Inc. are acting as joint book-running managers of this offering.
  • In addition, Hercules has one retail bond issuance of 6.25% Notes due 2033 (NYSE: HCXY).

Eagle Point Credit Company Inc. Announces Full Redemption of the 7.75% Series B Term Preferred Stock Due 2026 and 6.75% Notes Due 2027 and Partial Redemption of the 6.6875% Notes Due 2028

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Friday, January 14, 2022 - 9:30pm
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The redemption price of the 2027 Notes will be $25 plus accrued and unpaid interest through, but excluding, the 2027 Notes Redemption Date.

Key Points: 
  • The redemption price of the 2027 Notes will be $25 plus accrued and unpaid interest through, but excluding, the 2027 Notes Redemption Date.
  • The redemption price for the 2028 Notes will be $25 plus accrued and unpaid interest through, but excluding, the 2028 Notes Redemption Date.
  • All of the Series B Preferred Stock, the 2027 Notes and the 2028 Notes are held in book-entry form through The Depository Trust Company (DTC) and the Series B Term Preferred Stock, 2027 Notes and 2028 Notes will each be redeemed in accordance with the procedures of DTC.
  • Payment to DTC for the shares of Series B Term Preferred Stock, the 2027 Notes and the 2028 Notes will be made by American Stock Transfer & Trust Company, LLC, (the Redemption and Paying Agent).

Sunniva Inc. Announces Financial Update

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Friday, January 14, 2022 - 5:45pm
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VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Sunniva Inc. (Sunniva, the Company) (CSE:SNN) (OTC Pink Sheets:SNNVF) provides an update on several financing related items.

Key Points: 
  • VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Sunniva Inc. (Sunniva, the Company) (CSE:SNN) (OTC Pink Sheets:SNNVF) provides an update on several financing related items.
  • The proceeds from the Notes will be used principally to fund CPLs ongoing expenses pursuant to the Arbitration.
  • With respect to forward-looking information and statements contained herein, Sunniva has made numerous assumptions including, among other things, assumptions about general business and economic conditions.
  • Sunniva assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

KBRA Assigns Preliminary Ratings to Golub Capital BDC 3 ABS 2022-1 LLC

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Friday, January 14, 2022 - 5:06pm
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KBRA assigns preliminary ratings to one class of notes issued by Golub Capital BDC 3 ABS 2022-1 LLC (GC BDC 3 ABS 2022-1), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.

Key Points: 
  • KBRA assigns preliminary ratings to one class of notes issued by Golub Capital BDC 3 ABS 2022-1 LLC (GC BDC 3 ABS 2022-1), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.
  • GC BDC 3 ABS 2022-1 is a $400.0 million securitization managed by GC Advisors LLC (Golub or the Collateral Manager), a registered investment adviser and affiliate of Golub Capital.
  • 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.

VERB Announces Premium-to-Market Debt Financing and Supplemental Equity-Line-of-Credit-Facility

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Friday, January 14, 2022 - 1:30pm
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3i, LP has been an investor in VERB since March 2021.

Key Points: 
  • 3i, LP has been an investor in VERB since March 2021.
  • VERB may issue to Tumim purchase notices over a 36-month period from the date of this agreement.
  • Verb Technology Company, Inc. (Nasdaq: VERB) transforms how businesses attract and engage customers.
  • The Company cannot provide any assurance that the sale of its securities as described in this press release will enhance stockholder value.

Charter Prices $1.2 Billion Senior Unsecured Notes

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Friday, January 14, 2022 - 1:20am
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STAMFORD, Conn., Jan. 13, 2022 /PRNewswire/ --Charter Communications, Inc. (NASDAQ: CHTR) (alongwith its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the "Issuers"), have priced $1.2 billion in aggregate principal amount of senior unsecured notes due 2032 (the "Notes").

Key Points: 
  • STAMFORD, Conn., Jan. 13, 2022 /PRNewswire/ --Charter Communications, Inc. (NASDAQ: CHTR) (alongwith its subsidiaries, "Charter") today announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp. (collectively, the "Issuers"), have priced $1.2 billion in aggregate principal amount of senior unsecured notes due 2032 (the "Notes").
  • The Notes will bear interest at a rate of 4.750% per annum and will be issued at a price of 100.000% of the aggregate principal amount.
  • Charter expects to close the offering of the Notes on January19, 2022, subject to customary closing conditions.
  • Charter Communications, Inc. (NASDAQ:CHTR) is a leading broadband connectivity company and cable operator serving more than 31 million customers in 41 states through its Spectrum brand.

Home BancShares, Inc. Announces Pricing of Subordinated Notes Offering

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Thursday, January 13, 2022 - 10:54pm
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The Notes will initially bear interest at 3.125% per annum, payable semiannually in arrears, commencing on the issue date, to, but excluding, January 30, 2027.

Key Points: 
  • The Notes will initially bear interest at 3.125% per annum, payable semiannually in arrears, commencing on the issue date, to, but excluding, January 30, 2027.
  • The Company may redeem the Notes, in whole or in part, after January 30, 2027, at a price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest.
  • The Notes will mature on January 30, 2032 if they are not earlier redeemed, and are intended to qualify as Tier 2 capital of the Company for regulatory purposes.
  • Alternatively, you may obtain a copy of the prospectus supplement and accompanying prospectus for the offering by contacting: Piper Sandler & Co. at fsg-dcm@psc.com.

Eagle Point Credit Company Inc. Prices $87 Million Public Offering of Notes

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Thursday, January 13, 2022 - 10:30pm
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Eagle Point Credit Company Inc. (the Company) (NYSE:ECC, ECCB, ECCC, ECC PRD, ECCW, ECCX, ECCY) today announced that it has priced an underwritten public offering of $87,000,000 aggregate principal amount of its 5.375% notes due 2029 (the 2029 Notes), which will result in net proceeds to the Company of approximately $83.9 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.

Key Points: 
  • Eagle Point Credit Company Inc. (the Company) (NYSE:ECC, ECCB, ECCC, ECC PRD, ECCW, ECCX, ECCY) today announced that it has priced an underwritten public offering of $87,000,000 aggregate principal amount of its 5.375% notes due 2029 (the 2029 Notes), which will result in net proceeds to the Company of approximately $83.9 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company.
  • The 2029 Notes are rated BBB+ by Egan-Jones Ratings Company.
  • The Company intends to list the 2029 Notes on the New York Stock Exchange under the symbol ECCV.
  • The Company is externally managed and advised by Eagle Point Credit Management LLC.

Range Announces Pricing of $500 Million Offering of Senior Notes

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Thursday, January 13, 2022 - 9:52pm
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Range expects that the net proceeds of the offering will be approximately $492.0 million.

Key Points: 
  • Range expects that the net proceeds of the offering will be approximately $492.0 million.
  • Range intends to use the net proceeds from the offering, together with cash on hand and borrowings under its bank credit facility, to redeem all of its outstanding 9.25% senior notes due 2026 (the 2026 Senior Notes).
  • Range expects to close the sale of the Notes on February 1, 2022, subject to the satisfaction of customary closing conditions.
  • This press release does not constitute an offer to purchase or notice of redemption with respect to the 2026 Senior Notes.