Term

Porsche Financial Services strengthens leadership team

Retrieved on: 
Tuesday, April 2, 2024
Bugatti, Moses Austin, CRM, SVKM's NMIMS, University of Illinois Urbana-Champaign, Strategic management, Management information system, University, Business administration, Kellogg School, Temple University, Marketing communications, IPO, MBA, Northwestern University, Digital transformation, Northern Illinois University, Capital market, Term, Florida State University, BBA, PFS, Treasury, Customer service, Management

Atlanta, April 02, 2024 (GLOBE NEWSWIRE) -- Porsche Financial Services, Inc. (PFS) announced today the appointment of four new vice presidents to key leadership positions.

Key Points: 
  • Atlanta, April 02, 2024 (GLOBE NEWSWIRE) -- Porsche Financial Services, Inc. (PFS) announced today the appointment of four new vice presidents to key leadership positions.
  • "Following the Porsche IPO in September 2022, Porsche Financial Services has continued to evaluate how the organization can most effectively support its continued growth plan,” said Ross Dupper, President and CEO of Porsche Financial Services.
  • John Claiborne, VP Digital Transformation and Data Intelligence: John began his career with Porsche in 2001 as an IT contractor and has since held positions with increasing technical and management responsibility with Porsche Business Services, Porsche Cars North America, and Porsche Financial Services, where he managed the US launch of exclusive brand financial services for Bentley, Lamborghini, and Bugatti in 2012.
  • As the dedicated financial services company for Porsche Cars North America, PFS provides custom financial solutions and products to Porsche customers and dealers in the United States and Canada.

Par Pacific Announces Expected Term Loan Repricing

Retrieved on: 
Thursday, March 28, 2024
Term loan, S&P, Par Pacific Holdings, Documentation, Term

HOUSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced it expects to reprice and allocate its existing term loan credit agreement due 2030 (the “Term Loan Facility”).

Key Points: 
  • HOUSTON, March 28, 2024 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (NYSE: PARR) (“Par Pacific”) today announced it expects to reprice and allocate its existing term loan credit agreement due 2030 (the “Term Loan Facility”).
  • In addition, the amendment will eliminate the Term SOFR Adjustment of 10 basis points with respect to loans under the Term Loan Facility.
  • The amendment provides that if Par Pacific receives a further ratings upgrade from S&P, the annual interest rates under the Term Loan Facility will be reduced by an additional 0.25%.
  • “Our strong operating performance and record financial results over the past year have enabled us to reprice our term loan facility on improved terms,” said Shawn Flores, Chief Financial Officer of Par Pacific.

Cushman & Wakefield Successfully Completes Term Loan Repricing; Prepays $50 million of Total Debt Outstanding

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Other Construction & Property, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Cushman & Wakefield, Term loan, Term, CWK

Cushman & Wakefield (NYSE: CWK) today announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (“Term Loan”) due 2030.

Key Points: 
  • Cushman & Wakefield (NYSE: CWK) today announced that it has successfully completed a repricing of $1.0 billion of its Term Loan (“Term Loan”) due 2030.
  • The repricing reduces the applicable interest rate on the $1.0 billion of Term Loan issued in August 2023 by 25bps from Term SOFR plus 4.00% to Term SOFR plus 3.75%.
  • There are no changes to the maturity of the Term Loan following this repricing and all other terms are substantially unchanged.
  • Additionally, the Company announced that during the first quarter it elected to prepay $50 million of its Term Loan due 2025.

Collective Metals Provides Review of Fourteen Mile Target Area on its Princeton Property, B.C.

Retrieved on: 
Friday, March 15, 2024
Agreement, Property, MPD, Geology, RMK, IP, Marketing, 3B2, CAD, Project, Arsenic, CMMC, Anomaly, Mineral, Whipsaw Creek, Term, Ministry, Iron, Gravity anomaly, Bismuth, Princeton Project, News, Metallurgy, National instrument, Google Ads, Soil, Service, COMT, Corridor, Advertising, Princeton University, Element, Mechanical engineering, Donald Duck filmography, Cobalt, Rare-earth element

VANCOUVER, British Columbia, March 15, 2024 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | OTC: CLLMF | FSE: TO1) (the “Company” or “Collective”) is pleased to provide a review of results from the Fourteen and Fifteen Mile target areas in its flagship Princeton Project in south-central B.C. (the “Project”). The Property hosts several alkalic Cu-Au porphyry targets associated with Triassic diorite intrusions analogous to those associated with the currently producing Copper Mountain Mine, which lies approximately 10 km to the east (Figure 1). Results from a soil geochemical survey completed in 2023 are interpreted to confirm the mineral potential of the Fourteen and Fifteen Mile target areas as one of five (5) promising prospects with favourable geology, geophysical signatures, and/or historic geochemistry (please see News Release dated January 8, 2024). The Trojan-Condor Corridor, which hosts significant chargeability anomalies identified in a previous Induced Polarization (“IP”) survey,1 is considered a drill-ready target. The Company plans to conduct IP surveys over the other four target areas, including the Fourteen Mile target, in 2024.

Key Points: 
  • VANCOUVER, British Columbia, March 15, 2024 (GLOBE NEWSWIRE) -- COLLECTIVE METALS INC. (CSE: COMT | OTC: CLLMF | FSE: TO1 ) (the “Company” or “Collective”) is pleased to provide a review of results from the Fourteen and Fifteen Mile target areas in its flagship Princeton Project in south-central B.C.
  • The Trojan-Condor Corridor, which hosts significant chargeability anomalies identified in a previous Induced Polarization (“IP”) survey,1 is considered a drill-ready target.
  • The Company plans to conduct IP surveys over the other four target areas, including the Fourteen Mile target, in 2024.
  • Figure 1 - Fourteen, Fifteen and Sixteen Mile Target Areas with Aeromagnetic anomalies, alteration, intrusions, 2011 high-quality sieved sediment samples and 2023 soil pathfinder anomaly geochemistry.

Core & Main Announces Fiscal 2023 Fourth Quarter and Full-Year Results

Retrieved on: 
Tuesday, March 19, 2024
Other Energy, Machinery, Utilities, Environmental Health, Energy, Other Construction & Property, Environment, Construction & Property, Other Manufacturing, Engineering, Building Systems, Manufacturing, Drainage, Growth, CNM, Partnership, Webcast, Line of credit, Senior, Credit, Investment, Term, Calendar, Share repurchase, Leclair, LP, Security (finance)

Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, today announced financial results for the fourth quarter and fiscal year ended Jan. 28, 2024.

Key Points: 
  • Core & Main Inc. (NYSE: CNM), a leader in advancing reliable infrastructure with local service, nationwide, today announced financial results for the fourth quarter and fiscal year ended Jan. 28, 2024.
  • Fiscal Year Ended January 28, 2024
    Net sales for fiscal 2023 increased $51 million, or 0.8%, to $6,702 million compared with $6,651 million for fiscal 2022.
  • Gross profit for fiscal 2023 increased $23 million, or 1.3%, to $1,818 million compared with $1,795 million for fiscal 2022.
  • Adjusted EBITDA for fiscal 2023 decreased $25 million, or 2.7%, to $910 million compared with $935 million for fiscal 2022.

Clear Channel Outdoor Holdings, Inc. Announces Clear Channel International B.V.'s New Term Loan Facility and Concurrent Redemption of Existing Secured Notes

Retrieved on: 
Monday, March 25, 2024
Chase Bank, J. P. Morgan, Bookrunner, SAN, Sale, Security (finance), Date, CCO, Term, Finance Secretary (India), JPMorgan Chase

SAN ANTONIO, March 25, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") announced today that the Company's indirect, wholly owned subsidiary, Clear Channel International B.V. ("CCIBV"), entered into a credit agreement (the "CCIBV Credit Agreement") on March 22, 2024 (the "Closing Date") governing CCIBV's new term loan facility (the "CCIBV Term Loan Facility").

Key Points: 
  • SAN ANTONIO, March 25, 2024 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") announced today that the Company's indirect, wholly owned subsidiary, Clear Channel International B.V. ("CCIBV"), entered into a credit agreement (the "CCIBV Credit Agreement") on March 22, 2024 (the "Closing Date") governing CCIBV's new term loan facility (the "CCIBV Term Loan Facility").
  • serves as administrative agent and collateral agent, and J.P. Morgan SE serves as lead arranger and bookrunner.
  • The CCIBV Term Loan Facility matures on April 1, 2027 (the "Maturity Date") and has no scheduled amortization payments prior to the Maturity Date.
  • Additional information on the CCIBV Term Loan Facility and the form of credit agreement related thereto is available in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission.

Christina Lake Closes First Tranche of Non-Brokered Private Placement of Secured Convertible Notes

Retrieved on: 
Friday, March 1, 2024
Acquisition, CLB, Toronto Stock Exchange, CLC, Term, CDN, Multilateral, Minority, Offering

VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) further to the press release dated February 5, 2024, the Company is pleased to announce that it has closed the first tranche (the “First Tranche”) of a non-brokered private placement of secured convertible promissory notes (the “Notes”) in the principal amount of CDN$1,925,000 (the “Offering”).

Key Points: 
  • VANCOUVER, British Columbia, March 01, 2024 (GLOBE NEWSWIRE) -- Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”) (CSE: CLC) (OTCQB: CLCFF) (FRANKFURT: CLB) further to the press release dated February 5, 2024, the Company is pleased to announce that it has closed the first tranche (the “First Tranche”) of a non-brokered private placement of secured convertible promissory notes (the “Notes”) in the principal amount of CDN$1,925,000 (the “Offering”).
  • The Company issued convertible promissory notes (“Notes”) secured by land and buildings.
  • Outstanding principal and unpaid interest from the Note is convertible into common shares at a conversion price of $0.05 per common share during the Term.
  • Certain insiders of the Company participated in the first tranche of the Offering for an aggregate total of $1,355,000 in Notes.

SBA Communications Corporation Reports Fourth Quarter 2023 Results; Provides Full Year 2024 Outlook; and Declares Quarterly Cash Dividend

Retrieved on: 
Monday, February 26, 2024
Mobile, Wireless, Technology, Construction & Property, 5G, REIT, Other Technology, Telecommunications, Networks, Internet, Hardware, International, Base rate, Tower, Outlook, Investment, Debt, Term, Interest expense, Adjustment, Communication, Line of credit, Net income, Tax, Security (finance), Facility, SBA, Credit, Video game

Site leasing operating profit in the fourth quarter of 2023 was $516.8 million, an increase of 4.5% over the prior year period.

Key Points: 
  • Site leasing operating profit in the fourth quarter of 2023 was $516.8 million, an increase of 4.5% over the prior year period.
  • Tower Cash Flow in the fourth quarter of 2023 of $512.2 million was comprised of Domestic Tower Cash Flow of $392.0 million and International Tower Cash Flow of $120.2 million.
  • Tower Cash Flow Margin was 81.0% in the fourth quarter of 2023, as compared to 80.9% for the prior year period.
  • During the fourth quarter of 2023, SBA acquired 23 communication sites for total cash consideration of $21.3 million.

T2 Biosystems Announces Agreement with CRG for the Conversion of $15 Million of CRG Term Loan into Equity

Retrieved on: 
Thursday, February 15, 2024
Preferred stock, FDA, Term, CRG, Convertible, Security (finance)

LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval.

Key Points: 
  • LEXINGTON, Mass., Feb. 15, 2024 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced the entrance into a definitive agreement to convert $15 million of its term loan with entities affiliated with CRG Servicing LLC (“CRG”) into T2 Biosystems equity upon stockholder approval.
  • On February 15, 2024, T2 Biosystems entered into a Securities Purchase Agreement with CRG to facilitate the debt conversion.
  • CRG agreed to waive prepayment premiums and back-end fees associated with such principal amounts of loans exchanged for equity.
  • In October 2023, the CRG Term Loan Agreement was amended to extend the interest-only period and maturity date from December 30, 2024 to December 31, 2025 and to permanently reduce the minimum liquidity covenant from $5 million to $500,000.

Pyxis Tankers Announces Closing of Modern Dry Bulk Vessel Acquisition & Commercial Update

Retrieved on: 
Thursday, February 15, 2024
Acquisition, Bulk carrier, TCE, PXS, Term, Sale, GDP, Hand

The five year amortizing bank loan is priced at Term SOFR +2.35% and is secured by, among other things, the vessel.

Key Points: 
  • The five year amortizing bank loan is priced at Term SOFR +2.35% and is secured by, among other things, the vessel.
  • The vessel has been named the “Konkar Asteri” and is expected to commence commercial operations shortly.
  • The acquisition of the “Konkar Asteri” provides the opportunity to expand our commercial footprint with a fleet of eco-efficient, scrubber-fitted mid-sized dry bulk carriers.
  • We expect to employ our dry bulk vessels under a mix of T/C’s and spot voyages.”