RCF

VEON Pays Back Outstanding Balance and Cancels its Revolving Credit Facility

Retrieved on: 
Thursday, March 28, 2024
RCF, VEON, Euronext Amsterdam, Credit

Amsterdam, 28 March 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), announces that it has repaid in full the outstanding balance of USD 805 million (principal, excluding accrued interest) under its revolving credit facility (“RCF”) and cancelled the RCF.

Key Points: 
  • Amsterdam, 28 March 2024 – VEON Ltd. (Nasdaq: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services (the “Company”), announces that it has repaid in full the outstanding balance of USD 805 million (principal, excluding accrued interest) under its revolving credit facility (“RCF”) and cancelled the RCF.
  • The repayment of the outstanding amount and the cancellation of the RCF will reduce VEON’s interest expenses, in line with our effective cash and balance sheet management practices.
  • Elements of this press release contain or may contain “inside information” as defined under the Market Abuse Regulation (EU) No.
  • 596/2014.

VEON appoints PwC as 2023 auditors, provides updates on reporting timelines

Retrieved on: 
Thursday, March 14, 2024
ISA, VEON, Annual report, International standard, Bank statement, Market, International Standards on Auditing, PCAOB, RCF, Euronext Amsterdam, Audit

The delays arise from the difficulties that the Company has faced in identifying a suitable auditor due to the material changes in the Group’s portfolio of assets.

Key Points: 
  • The delays arise from the difficulties that the Company has faced in identifying a suitable auditor due to the material changes in the Group’s portfolio of assets.
  • A suitable auditor that is qualified to provide these services in the countries where VEON operates has not yet been identified.
  • The Company will provide further updates in the future on its progress and the status of the matters mentioned herein.
  • As previously announced, VEON will release its unaudited selected financial and operating results for the fourth quarter and the twelve months ended December 31, 2023 on March 21, 2024.

Rackspace Technology Announces Refinancing Transactions, Significantly Reducing Debt and Securing New Money Investment

Retrieved on: 
Tuesday, March 12, 2024
SAN, Rackspace Technology, Line of credit, AI, RCF, PJT Partners, Latham & Watkins

SAN ANTONIO, March 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI solutions company, today announced that it has closed a private debt exchange (the “Private Exchange”) with certain of its creditors representing more than 72% of the Company’s first lien term loans and more than 64% of its first lien notes, as well as 100% of its Revolving Credit Facility (“RCF”) commitments. 

Key Points: 
  • Through the Private Exchange, Rackspace has eliminated more than $375 million of net debt and has received $275 million of new money (the “New Money Financing”) that will come to the balance sheet as additional liquidity to advance key strategic initiatives.
  • Additionally, the maturities on the RCF and other participating senior debt facilities were extended to May 2028.
  • In connection with the transaction, the Company plans to launch a public debt exchange offer (the “Public Exchange Offer”) to all its outstanding lenders and first lien noteholders.
  • “By both significantly reducing our debt and infusing new capital, this transaction strengthens Rackspace Technology’s financial position and enhances our ability to continue delivering value to our customers with industry-leading hybrid, multicloud and AI solutions,” said Amar Maletira, Chief Executive Officer of Rackspace Technology.

Custodian Property Income REIT plc: Update on recommended all-share merger with abrdn Property Income Trust Limited

Retrieved on: 
Wednesday, March 13, 2024
Person, RCF, Sale, Annual report, IPO, FCA, NTA, Share, Disclosure, Documentation, NAV2, FSMA, EPRA, API, ULR, Prospectus, Bloomberg, NAV, Risk, AGM, Policy, Failure, Holding company

The CREI Board notes the API portfolio weighting to industrials is only 48% (as a % of API's portfolio by income as at 31 December 2023)8.

Key Points: 
  • The CREI Board notes the API portfolio weighting to industrials is only 48% (as a % of API's portfolio by income as at 31 December 2023)8.
  • The ULR specialist investment strategy for the combined group therefore would reflect a material divergence from the current API strategy.
  • The two principal drivers of earnings per share in a property investment company are rental income and cost of debt.
  • Data for the twelve months to 18 January 2024 (being the latest practicable date prior to the Recommended Merger Announcement).

Vallourec Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Friday, March 1, 2024
Fossil fuel, RCF, Growth, Sale, Nature, Oil, HKM, Treasury, AMF, Yoy, Düsseldorf-Rath, Tax, Electricity, Income tax, FY, Value, ABL, ACC, Environment, Iron

In Q4 2023, Vallourec recorded a €153 million income related to the reversal of previously-booked impairments.

Key Points: 
  • In Q4 2023, Vallourec recorded a €153 million income related to the reversal of previously-booked impairments.
  • In Q4 2023, Vallourec recorded a (€185) million charge predominantly related to its restructuring efforts in Germany.
  • Over the full year 2023, Vallourec recorded revenues of €5,114 million, up 5% year-on-year (+6% at constant exchange rates).
  • This estimate includes the impact of the provisions and charges recorded in Fourth Quarter 2023.

American Hotel Income Properties REIT LP Reports 2023 Results With 5.9% Annual RevPAR Growth

Retrieved on: 
Wednesday, February 28, 2024
Acquisition, FFO, CMBS, Amendment, PIN, RCF, News, Management, LTV, RevPAR, Sixth Amendment, Event, Webcast, Sixth, Policy, Bank statement, AHIP, Commercial property

On November 7, 2023, AHIP entered into an amendment to its revolving credit facility (the “RCF”) and certain term loans (the “Sixth Amendment”).

Key Points: 
  • On November 7, 2023, AHIP entered into an amendment to its revolving credit facility (the “RCF”) and certain term loans (the “Sixth Amendment”).
  • The total appraised value of the 20 hotel properties (the "Borrowing Base Properties") is $286.2 million.
  • The appraised value of $286.2 million for the 20 Borrowing Base Properties (2,070 keys) is equivalent to $138 thousand per key.
  • The borrowing availability is subject to a maximum of 67.5% LTV based on the appraised value of the Borrowing Base Properties.

NEAR EAST FOUNDATION LAUNCHES SIRAJ FINANCIAL SERVICES TO EXPAND MICRO AND SMALL ENTERPRISE FINANCING IN NORTHERN SYRIA

Retrieved on: 
Friday, February 16, 2024
Siraj, United, Woman, SFS, Multimedia, RCF, Mentorship, Growth, NBFI, Hope, Gravity battery, Climate change, SRTF, International development, NEF, USAID, Agriculture, Food security

BRUSSELS, Feb. 16, 2024 /PRNewswire/ -- Near East Foundation (NEF) today announced the establishment of Siraj Financial Services (SFS), a new social enterprise operating in Northern Syria.

Key Points: 
  • BRUSSELS, Feb. 16, 2024 /PRNewswire/ -- Near East Foundation (NEF) today announced the establishment of Siraj Financial Services (SFS), a new social enterprise operating in Northern Syria.
  • Near East Foundation announces the establishment of a new social enterprise operating in Northern Syria.
  • SFS, operating as a non-banking financial institution (NBFI), will upscale and commercialize NEF's successful micro and small enterprise (MSE) financing program, which has been operating in the region since 2021.
  • To date, Siraj Financial Services has dispersed 3,500 loans totaling $4 million to Syrian MSEs.

Storytel Interim Report Q4, 2023

Retrieved on: 
Thursday, February 15, 2024
Acquisition, CER, IACS, Workforce, KPN, Adjustment, RCF, Bookkeeping

STOCKHOLM, Feb. 15, 2024 /PRNewswire/ -- "Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023", says Johannes Larcher, CEO, Storytel.

Key Points: 
  • STOCKHOLM, Feb. 15, 2024 /PRNewswire/ -- "Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023", says Johannes Larcher, CEO, Storytel.
  • Streaming revenue up 16% to 858 (742) MSEK; or 14% at constant exchange rates (CER)
    Adjusted Gross profit up 20% to 387 (322) MSEK, equaling a margin of 40.9% (37.2%)
    Adjusted EBITDA increased by 62% to 86 (53) MSEK, equaling a margin of 9.1% (6.1%)
    Adjusted Operating profit of -8 (-32) MSEK, and -680 (-50) MSEK including IACs
    Streaming revenue grew 12% to 3,242 (2,888) MSEK; or 9% at constant exchange rates
    Group revenue increased by 9% to 3,489 (3,200) MSEK, or 10% when excluding Russia
    Adjusted EBITDA increased by 169% to 248 (92) MSEK, equaling a margin of 7.1% (2.9%)
    Storytel recognized Items Affecting Comparability (IACs) of 672 MSEK, following the sharpened focus on profitability.
  • Of these IACs, 465 MSEK relate to non-cash impairment charges on goodwill attributed to Audiobooks.com
    Storytel launched a strategic partnerships with the Dutch telecom operator KPN, which has already been driving meaningful subscriber acquisition in The Netherlands
    Storytel announced an efficiency optimization initiative that will be implemented during the first quarter of 2024, including a 13% reduction in workforce
    Storytel extended the existing revolving credit facility (RCF) until 2 April 2025 and reduced the facility to 750 MSEK, at otherwise unchanged terms

Storytel Interim Report Q4, 2023

Retrieved on: 
Thursday, February 15, 2024
Acquisition, CER, IACS, Workforce, KPN, Adjustment, RCF, Bookkeeping

STOCKHOLM, Feb. 15, 2024 /PRNewswire/ -- "Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023", says Johannes Larcher, CEO, Storytel.

Key Points: 
  • STOCKHOLM, Feb. 15, 2024 /PRNewswire/ -- "Storytel continued its transformation journey and delivered yet another strong quarter to conclude 2023", says Johannes Larcher, CEO, Storytel.
  • Streaming revenue up 16% to 858 (742) MSEK; or 14% at constant exchange rates (CER)
    Adjusted Gross profit up 20% to 387 (322) MSEK, equaling a margin of 40.9% (37.2%)
    Adjusted EBITDA increased by 62% to 86 (53) MSEK, equaling a margin of 9.1% (6.1%)
    Adjusted Operating profit of -8 (-32) MSEK, and -680 (-50) MSEK including IACs
    Streaming revenue grew 12% to 3,242 (2,888) MSEK; or 9% at constant exchange rates
    Group revenue increased by 9% to 3,489 (3,200) MSEK, or 10% when excluding Russia
    Adjusted EBITDA increased by 169% to 248 (92) MSEK, equaling a margin of 7.1% (2.9%)
    Storytel recognized Items Affecting Comparability (IACs) of 672 MSEK, following the sharpened focus on profitability.
  • Of these IACs, 465 MSEK relate to non-cash impairment charges on goodwill attributed to Audiobooks.com
    Storytel launched a strategic partnerships with the Dutch telecom operator KPN, which has already been driving meaningful subscriber acquisition in The Netherlands
    Storytel announced an efficiency optimization initiative that will be implemented during the first quarter of 2024, including a 13% reduction in workforce
    Storytel extended the existing revolving credit facility (RCF) until 2 April 2025 and reduced the facility to 750 MSEK, at otherwise unchanged terms

Custodian Property Income REIT plc: Third quarter trading update shows rental growth supporting fully covered dividends

Retrieved on: 
Wednesday, February 7, 2024
Consensus, Starbucks, RCF, WAULT, History, EPC, International, Lloyds Bank, Castle Donington, Investment, Prospectus, David House, National Timber Group, LTV, Tenant, Aviva, NAV, ITM Power, ERV, International Financial Reporting Standards, Acquisition, Lloyds Banking Group, Pride Park, West Midlands Ambulance Service, EPRA, Movement, Lease

The difference reflected movements in the Company’s capital expenditure, lease incentives and acquisition costs during the Quarter.

Key Points: 
  • The difference reflected movements in the Company’s capital expenditure, lease incentives and acquisition costs during the Quarter.
  • This was in contrast to occupier demand which delivered rental growth and has further improved the reversionary potential in Custodian Property Income REIT’s portfolio, which is now greater than it was at the start of 2023.
  • Investor sentiment towards real estate appears to have been closely correlated with the expected trajectory of interest rates, as determined by inflation data.
  • The Board has approved an interim dividend per share of 1.375p for the Quarter, fully covered by EPRA earnings, payable on 29 February 2024.