Prepayment of loan

iHeartMedia, Inc. Announces Completion of Voluntary $250 Million Prepayment of Term Loan Facilities and Successful Repricing of Incremental Term Loan

Retrieved on: 
Monday, July 19, 2021
Music, General Entertainment, Other Entertainment, Entertainment, TV and Radio, Money, Finance, Loans, Financial services, Mortgage, Financial law, Term loan, Prepayment, Basis point, Prepayment of loan

The prepayment was applied to the Term Loan and the Incremental Term Loan on a pro-rata basis, resulting in $206 million being used to prepay the Term Loan and $44 million to prepay the Incremental Term Loan.

Key Points: 
  • The prepayment was applied to the Term Loan and the Incremental Term Loan on a pro-rata basis, resulting in $206 million being used to prepay the Term Loan and $44 million to prepay the Incremental Term Loan.
  • The interest rate on the remaining $402 million balance of the Incremental Term Loan was lowered by 100 basis points, including the impact of a 25 basis points LIBOR floor reduction.
  • The prepayment and the new rate are expected to save iHeartMedia approximately $13 million in interest expense on an annualized basis.
  • iHeartMedia, Inc. [Nasdaq: IHRT] is the leading audio media company in America, reaching over 250 million people each month.

HomeEquity Bank launches short-term reverse mortgage product with CHIP Open

Retrieved on: 
Thursday, September 10, 2020
Loans, Finance, Money, Mortgage, Structured finance, Mortgage loan, Economy, Reverse mortgage, HomeEquity Bank, Prepayment of loan, UK mortgage terminology

This short-term reverse mortgage loan is designed for people who are interested in an immediate financial solution with no prepayment penalties.

Key Points: 
  • This short-term reverse mortgage loan is designed for people who are interested in an immediate financial solution with no prepayment penalties.
  • While CHIP Open is a short-term loan of one to three years on a variable term only, it can be easily converted into the CHIP Reverse Mortgage at any time should a long-term solution be more appropriate.
  • If the CHIP Open loan cannot be repaid within the short-term period, it can be converted to a CHIP Reverse Mortgage and can be treated as a pre-inheritance.
  • HomeEquity Bank is a Schedule 1 Canadian Bank offering the CHIP Reverse Mortgage and CHIP Open solutions.

Northwest Biotherapeutics Announces $5 Million Financing

Retrieved on: 
Friday, August 21, 2020
Northwest Biotherapeutics, Prepayment of loan, Immunotherapy, Medicine, Companies, Health care

BETHESDA, Md., Aug. 21, 2020 /PRNewswire/ -- Northwest Biotherapeutics (OTCQB: NWBO) ("NW Bio"), a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, today announced that the Company has completed a non-dilutive debt financing for net proceeds of another $5 million.

Key Points: 
  • BETHESDA, Md., Aug. 21, 2020 /PRNewswire/ -- Northwest Biotherapeutics (OTCQB: NWBO) ("NW Bio"), a biotechnology company developing DCVax personalized immune therapies for solid tumor cancers, today announced that the Company has completed a non-dilutive debt financing for net proceeds of another $5 million.
  • Prepayment of the Loan can be made at any time with a 15% prepayment penalty.
  • If the Loan remains outstanding past month 8, it will be amortized through month 21 with monthly payments of 110% of 14 equal monthly principal payments.
  • Northwest Biotherapeutics is a biotechnology company focused on developing personalized immunotherapy products designed to treat cancers more effectively than current treatments, without toxicities of the kind associated with chemotherapies, and on a cost-effective basis, in both North America and Europe.

Neovasc Announces Partial Prepayment of Convertible Debenture

Retrieved on: 
Monday, August 17, 2020
Finance, Money, Financial markets, Corporate finance, Structured finance, Loans, Prepayment of loan, Debenture, Warrant, Convertible bond, Promissory note, Prepayment

Using the Exercise Proceeds, the Company has prepaid a portion of the convertible debenture (the Note) in the aggregate principal amount of US$11,500,000 issued to SMG pursuant to a private placement on May 13, 2019.

Key Points: 
  • Using the Exercise Proceeds, the Company has prepaid a portion of the convertible debenture (the Note) in the aggregate principal amount of US$11,500,000 issued to SMG pursuant to a private placement on May 13, 2019.
  • The total aggregate amount of the Exercise Proceeds has been applied to the prepayment of the Note whereby US$1,263,884.57 has been applied to the remaining US$7,886,658.88 principal of the Note, US$25,277.69 has been paid as a prepayment penalty pursuant to the terms of the Note and US$30,471.74 has been paid in accrued interest.
  • In connection with the prepayment of the Note, the Company also issued to SMG 168,518 common share purchase warrants (the Repayment Warrants) at an exercise price of US$7.50 per Repayment Warrant in accordance with the terms of the Note.
  • Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace.

Sallie Mae Private Student Loans Help Students and Families Cover College Costs

Retrieved on: 
Monday, July 6, 2020
Other Education, University, Finance, Primary, Secondary, Education, Banking, Other Consumer, Professional services, Women, Teens, Parenting, Pets, Children, Family, Consumer, Money, Finance, Student loans in the United States, Economy, Loans, Sallie Mae, Student loan, Private student loan, Student financial aid, Prepayment of loan, United Student Aid Funds

After scholarships, grants, and federal financial aid, private student loans like those offered by Sallie Mae, can be a smart and responsible option to cover remaining costs.

Key Points: 
  • After scholarships, grants, and federal financial aid, private student loans like those offered by Sallie Mae, can be a smart and responsible option to cover remaining costs.
  • Sallie Mae is well-capitalized and committed to offering competitively priced private student loans that students and families expect and trust from the market leader.
  • Even if college may look different than planned this fall, Sallie Mae stands ready to help families take that next step with confidence and peace of mind.
  • With competitive variable and fixed rates, Sallie Maes private student loans for college have no origination fees or prepayment penalties.

MannKind Receives Forgivable Loan under the Paycheck Protection Program

Retrieved on: 
Wednesday, April 15, 2020
Loans, Structured finance, Prepayment of loan, Mortgage loan, Prepayment

The PPP loan matures on April 9, 2022 and bears interest at a rate of 0.98% per annum.

Key Points: 
  • The PPP loan matures on April 9, 2022 and bears interest at a rate of 0.98% per annum.
  • The PPP loan may be prepaid by MannKind at any time prior to maturity with no prepayment penalties.
  • MannKind intends to use all proceeds from the PPP Loan to retain employees, maintain payroll and make lease, mortgage interest and utility payments.
  • MannKind will host a conference call and webcast to provide an operational update today at 4:30 p.m. Eastern Time.

Sallie Mae Helps Families Bridge the Financing Gap With Competitive Private Student Loans

Retrieved on: 
Thursday, June 27, 2019
Banking, Professional services, Family, Consumer, University, Teens, Education, Parenting, Finance, Money, Finance, Economy, Loans, Sallie Mae, Structured finance, Student loan, Private student loan, Prepayment of loan

After families maximize money that doesnt need to be repaid, like scholarships, grants, savings, and income, private student loans, like those offered by Sallie Mae, are a smart and responsible option to cover remaining college costs.

Key Points: 
  • After families maximize money that doesnt need to be repaid, like scholarships, grants, savings, and income, private student loans, like those offered by Sallie Mae, are a smart and responsible option to cover remaining college costs.
  • With competitive fixed and variable rates and other compelling benefits, Sallie Maes private student loans for college have no origination fees or prepayment penalties.
  • Sallie Mae Smart Option Student Loan customers can choose to make monthly interest-only or a $25 fixed payment while in school or defer payments until after school.
  • Over the last five years, more than 2 million families have trusted Sallie Mae to help them pay for college, said Kelly Christiano, senior vice president, Sallie Mae.

KBRA Releases Report on CRE CLO’s Sizable Prepayment Activity

Retrieved on: 
Wednesday, March 13, 2019
Professional services, Banking, Finance, Finance, Structured finance, Financial markets, Money, Prepayment, Kroll Bond Rating Agency, Bond, Credit rating agency, Mortgage-backed security, Mortgage industry of the United States, Loans, Prepayment of loan

Kroll Bond Rating Agency (KBRA) has observed meaningful prepayment activity in 2017 and early 2018 vintage commercial real estate collateralized loan obligations (CRE CLOs).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) has observed meaningful prepayment activity in 2017 and early 2018 vintage commercial real estate collateralized loan obligations (CRE CLOs).
  • The prepayments led to increases in credit enhancement levels, which had a positive impact on rating activity.
  • As a result of the prepayment activity, we believe it would be helpful to shed light on some of the trends observed in the market.
  • Key observations from the report are as follows:
    Length of the initial loan term is a leading indicator of when prepayment may occur.

LoanSnap Launches VA Smart Loans & Charitable Foundation to Support U.S. Service Members

Retrieved on: 
Thursday, November 15, 2018
Loans, Economy, Money, Finance, Mortgage, Personal finance, Structured finance, Refinancing, Mortgage loan, Prepayment of loan, United States Department of Veterans Affairs, Streamline refinancing

In tandem, LoanSnap also launched Operation Home Foundation, a new charitable foundation to support U.S. military veterans and their families as they transition to civilian life.

Key Points: 
  • In tandem, LoanSnap also launched Operation Home Foundation, a new charitable foundation to support U.S. military veterans and their families as they transition to civilian life.
  • LoanSnap's new VA Smart Loans program streamlines the Veterans Administration (VA) mortgage process using LoanSnap's smart loan technology.
  • With rates as low as 0.625 percent and no prepayment penalties, the VA Smart Loan program makes owning a home more affordable and accessible for service personnel and their families.
  • Or, eligible service members with a non-VA mortgage can refinance through LoanSnap's VA Smart Loan program to lower their monthly payments.