Currency swap

goeasy Ltd. Closes US$400 Million Offering of Senior Unsecured Notes

Retrieved on:

Friday, February 23, 2024

MISSISSAUGA, ON, Feb. 23, 2024 /CNW/ - (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) ("goeasy" or the "Company"), one of Canada's leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$400 million aggregate principal amount of senior unsecured notes due 2029 (the "Notes").

Key Points:

MISSISSAUGA, ON, Feb. 23, 2024 /CNW/ - (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) ("goeasy" or the "Company"), one of Canada's leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$400 million aggregate principal amount of senior unsecured notes due 2029 (the "Notes").
In connection with the offering of the Notes, goeasy also entered into a currency swap agreement (the "Currency Swap") to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 7.195% per annum.
Before giving effect to the Currency Swap, the coupon on the Notes is 7.625% per annum.
goeasy will use the net proceeds from the sale of the Notes to partially repay indebtedness under its secured facilities and for general corporate purposes.

goeasy Ltd. Reports Results for the Fourth Quarter and Full Year & Announces Increase to Automotive Securitization Facility

Retrieved on:

Tuesday, February 13, 2024

Acquisition, Wells Fargo, Note, Automotive industry, Investment, Bank, TSX, External debt, Growth, Sale, Bank of Montreal, Adjustment, GSY, Legislation, Currency swap, Probability, EPS, Goeasy

MISSISSAUGA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY), (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, today reported results for the fourth quarter and full year ended December 31, 2023 and announced a $125 million increase to its existing revolving securitization warehouse facility collateralized by automotive consumer loans (the “Automotive Securitization Facility”) from $375 million to $500 million, including a 1-year term extension.

Key Points:

During the quarter, the Company generated loan originations of $705 million, up 12% compared to $632 million produced in the fourth quarter of 2022.
At quarter end, the consumer loan portfolio was $3.65 billion, up 30% from $2.79 billion in the fourth quarter of 2022.
Operating income for the fourth quarter of 2023 was a record $137 million, up 81% from $76 million in the fourth quarter of 2022.
Adjusted operating margin1 for the fourth quarter was a record 41.6%, up from 36.5% in the same period in 2022.

goeasy Ltd. Closes US$550 Million Offering of Senior Unsecured Notes

Retrieved on:

Tuesday, November 28, 2023

TSX, Goeasy, Currency swap, Sale, GSY

MISSISSAUGA, Ontario, Nov. 28, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$550 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”).

Key Points:

MISSISSAUGA, Ontario, Nov. 28, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, is pleased to announce that it closed its previously announced offering of US$550 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”).
As announced on November 14, 2023, in connection with the offering of the Notes, goeasy also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 8.79% per annum.
Before giving effect to the Currency Swap, the coupon on the Notes is 9.25% per annum.
goeasy will use the proceeds from the sale of the Notes to fund the redemption of all of its outstanding 5.375% senior unsecured notes due 2024 (the “2024 Notes”).

goeasy Ltd. Announces Currency Swap Agreement for US$550 Million of Senior Unsecured Notes

Retrieved on:

Tuesday, November 14, 2023

Currency swap, Note, Goeasy, GSY, TSX, Offering, Cryptocurrency

MISSISSAUGA, Ontario, Nov. 14, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, is pleased to announce that in connection with the offering (the “Offering”) of its US$550 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”), which was announced on November 13, 2023, it has now also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 8.79% per annum, by fixing the foreign currency exchange rate for the proceeds from the Offering, consistent with the Company’s previous announcement of its intention to do so.

Key Points:

MISSISSAUGA, Ontario, Nov. 14, 2023 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, is pleased to announce that in connection with the offering (the “Offering”) of its US$550 million aggregate principal amount of senior unsecured notes due 2028 (the “Notes”), which was announced on November 13, 2023, it has now also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing on the Notes to 8.79% per annum, by fixing the foreign currency exchange rate for the proceeds from the Offering, consistent with the Company’s previous announcement of its intention to do so.
Before giving effect to the Currency Swap, the coupon on the Notes is 9.25% per annum.
After giving effect to the Currency Swap, goeasy estimates that the net proceeds from the Offering will be approximately C$745 million after deducting fees and estimated expenses.

Webtel.Mobi's “Metaverse” Platform – With its Potentially Crypto-Replacing Global Digital Currency and CBDC Equivalents – Plans a Special Purpose Vehicle Listing in the US

Retrieved on:

Wednesday, July 6, 2022

Transfer, Online, Zero, System, Global Operations, GLOBE, Company, International Clearing Union, FX, Telecommunication, Real-time gross settlement, Platform, Smart, Century, Payment, Unbanked, HSBC, KYC, Online and offline, Fulfillment, Person, KPMG, Organization, Goldman Sachs, TUV, Morgan Stanley, Acquisition, Lists of publishing companies, Standard, Ecosystem, AML, London Stock Exchange, Commercial, Australian Securities Exchange, Telecommunication Infrastructure Company, JPMorgan Chase, Currency swap, Levy Economics Institute, Telecoms & Internet converged Services & Protocols for Advanced Networks, Virtual, International, Tuv, WM, London, Shareholder, Levy, CBDC, United Kingdom, Privacy, Name, Motherboard, NEW, Digital currency, SPV, Cryptocurrency, Mobile phone, Warehouse, Security (finance), Citigroup, Metaverse, Finance, Global, Landline

LONDON and NEW YORK, July 06, 2022 (GLOBE NEWSWIRE) -- Global Telephony Provider Webtel.mobi (“WM”) is planning to list an SPV holding a percentage of its shares on a US Stock Exchange. Significant interest is being generated both because of the wide range of products and services provided globally by WM’s AI-controlled “Metaverse” Platform, and the potential volumes in this market sector.

Key Points:

Although WM does not refer to its Platform as being a Metaverse Platform, but rather as a Whole Market Platform, commentators have increasingly referred to it as a Metaverse.
Some experts regard WMs Global Multicurrency Digital Currency and CBDC equivalents as a potential replacement for Cryptocurrencies and Stablecoins, while others view its TITAN Global Account Number and ICLM Transfer System as a proven alternative to the global SWIFT System.
The TUV System: The Company provides three types of TUV:
The Standard TUV: A Global, Multicurrency Digital Currency equivalent and CBDC equivalent.
This aspect together with its capacity for its conversion between currencies further protects against currency depreciation / currency crashes and inflation.

Webtel.mobi’s Two Fully-Operational Zero-Cost Alternatives to the Global FX Market Available Worldwide

Retrieved on:

Monday, September 27, 2021

AP, NEW, Global, Exercise, Community business development corporation, WM, Cryptocurrency, Swap, Century, Currency swap, GLOBE, Bank

The savings in these transactions render the rates available in the current Global FX Market so unattractive as to potentially become redundant.

Key Points:

The savings in these transactions render the rates available in the current Global FX Market so unattractive as to potentially become redundant.
This exercise reveals the true costs of FX Conversions via the Global FX Market.
Firstly, the legacy systems used in the Global FX Market are outdated, and not able to function according to 21st Century standards.
Moreover, Member B who is Swapping the Euro for USD will similarly get almost USD 500 000.00 more than in the Global FX Market.

ICE Benchmark Administration Publishes Feedback Statement on the Consultation on the Potential Cessation of ICE Swap Rate® based on GBP LIBOR®

Retrieved on:

Wednesday, August 4, 2021

Banking, Professional Services, Finance, Swaps, Money, Finance, Interest rates, Economy, Interest rate swap, SONIA, Libor, Currency swap, ICE Benchmark Administration, Intercontinental Exchange, SONIA, ICE BENCHMARK ADMINISTRATION, INTERCONTINENTAL EXCHANGE, SONIA

USD LIBOR ICE Swap Rate, EUR ICE Swap Rate or GBP SONIA ICE Swap Rate), after December 31, 2021, or any other date.

Key Points:

USD LIBOR ICE Swap Rate, EUR ICE Swap Rate or GBP SONIA ICE Swap Rate), after December 31, 2021, or any other date.
GBP SONIA ICE Swap Rate settings are available for the same tenors and at the same time as the current GBP LIBOR ICE Swap Rate settings, and are determined using the published ICE Swap Rate Waterfall methodology based on eligible interest rate swap data referencing SONIA.
GBP SONIA Spread-Adjusted ICE Swap Rate Beta settings are available here for information purposes only, alongside GBP SONIA ICE Swap Rate settings.
ICE LIBOR, LIBOR, ICE Swap Rate and ICE Benchmark Administration are registered trademarks of IBA and/or its affiliates.

24 Exchange Launches FX Swaps Trading

Retrieved on:

Thursday, April 15, 2021

Financial markets, Swaps, Foreign exchange market, Finance, Futures contract, Money, Foreign exchange companies, Stock market, Currency swap, Draft:Quod Financial

Trading in the one-week tenor the most liquid part of the market which accounts for around 65% of transacted volume is free on the 24 Exchange platform.\n"24 Exchange FX Swaps are a low-cost electronic option for our customers seeking help with hedging and risk management.

Key Points:

Trading in the one-week tenor the most liquid part of the market which accounts for around 65% of transacted volume is free on the 24 Exchange platform.\n"24 Exchange FX Swaps are a low-cost electronic option for our customers seeking help with hedging and risk management.
With this important addition, 24 Exchange\'s FX offering now exclusively brings its central counterparty model to the FX market\'s most important products spot, swaps and NDFs," said Dmitri Galinov, CEO and Founder of 24 Exchange.\nThe 24 Exchange platform offers streaming liquidity on a number of major tenors in addition to a central limit order book, with access via GUI or FIX API.
"Having been trading swaps on the buy side for more than 20 years, I know first-hand how important this evolution in Swaps trading is.
The wait is finally over for traders on the 24 Exchange platform for FX Swaps.

ECB extends euro liquidity lines with two central banks

Retrieved on:

Saturday, August 29, 2020

Financial services, Banking, Economy, European Central Bank, Eurozone, Euro, Croatian National Bank, Currency swap, Central bank

PRESS RELEASE

Key Points:

PRESS RELEASE
ECB extends euro liquidity lines with two central banks

28 August 2020

The European Central Bank (ECB) and the Hrvatska narodna banka (Croatian National Bank, HNB) as well as the Banca Naional a Romniei (National Bank of Romania, BNR) have agreed to extend the respective euro liquidity lines by six months until the end of June 2021.
The lines were established earlier this year to provide euro liquidity to financial institutions in the two countries via their respective national central banks to address possible euro liquidity needs in the presence of market dysfunctions due to the COVID-19 shock.
The euro liquidity lines had been agreed initially until the end of 2020.
Through a swap line agreement, the HNB can borrow up to 2 billion from the ECB in exchange for Croatian kuna.

ECB extends euro liquidity lines with two central banks

Retrieved on:

Saturday, August 29, 2020

Financial services, Banking, Economy, European Central Bank, Eurozone, Euro, Croatian National Bank, Currency swap, Central bank

PRESS RELEASE

Key Points:

PRESS RELEASE
ECB extends euro liquidity lines with two central banks

28 August 2020

The European Central Bank (ECB) and the Hrvatska narodna banka (Croatian National Bank, HNB) as well as the Banca Naional a Romniei (National Bank of Romania, BNR) have agreed to extend the respective euro liquidity lines by six months until the end of June 2021.
The lines were established earlier this year to provide euro liquidity to financial institutions in the two countries via their respective national central banks to address possible euro liquidity needs in the presence of market dysfunctions due to the COVID-19 shock.
The euro liquidity lines had been agreed initially until the end of 2020.
Through a swap line agreement, the HNB can borrow up to 2 billion from the ECB in exchange for Croatian kuna.