Fixed-income securities

Deer Horn Completes 1st Tranche Closing of Non-Brokered Private Placement

Retrieved on: 
Friday, November 6, 2020
Vertebrate anatomy, Vertebrate zoology, Fixed-income securities, Structured finance, Docherty, Deer, Tranche, Horn

VANCOUVER, British Columbia, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Deer Horn Capital Inc. (CSE: DHC) (the Company or Deer Horn), announces that is has closed the first tranche (the First Tranche) of its non-brokered private placement (the Offering) previously announced on October 14, 2020.

Key Points: 
  • VANCOUVER, British Columbia, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Deer Horn Capital Inc. (CSE: DHC) (the Company or Deer Horn), announces that is has closed the first tranche (the First Tranche) of its non-brokered private placement (the Offering) previously announced on October 14, 2020.
  • Deer Horn also issued 1,000,000 units to settle debt of $50,000 owed to Docherty Capital Corp. (DCC), a private company owned and controlled by Tyrone Docherty.
  • After completion of the debt settlement issuances, Mr. Docherty now owns/controls 4,552,790 shares of Deer Horn representing approximately 14.7% of the outstanding shares of Deer Horn on a non-diluted basis.
  • Mr. Docherty may acquire additional shares or Deer Horn or dispose of Deer Horn shares (through market or private transaction) from time to time.

Oxford Lane Capital Corp. Provides October 2020 Net Asset Value Update

Retrieved on: 
Thursday, November 5, 2020
Financial markets, Finance, Fixed-income securities, Structured finance, Investment management, Net asset value, Money, Tranche

GREENWICH, Conn., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) today announced the following net asset value (NAV) estimate as of October 31, 2020.

Key Points: 
  • GREENWICH, Conn., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (NasdaqGS: OXLC) (NasdaqGS: OXLCO) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) today announced the following net asset value (NAV) estimate as of October 31, 2020.
  • This estimate is not a comprehensive statement of our financial condition or results for the month ended October 31, 2020.
  • The preliminary financial data included in this press releasehas been prepared by, and is the responsibility of, Oxford Lane Capital Corp.'smanagement.
  • Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles.

DGAP-News: NEAG receives onshore wind funding: a facility for different project stages

Retrieved on: 
Tuesday, November 3, 2020
Fixed-income securities, Structured finance, Fundraising, Innovative financing, Tranche, Onshore, NEAG Norddeutsche Energie AG, Capcora

NEAG receives onshore wind funding: a facility for different project stages

Key Points: 
  • NEAG receives onshore wind funding: a facility for different project stages
    The issuer is solely responsible for the content of this announcement.
  • Hamburg based independent power producer ("IPP") NEAG Norddeutsche Energie AG ("NEAG") secured an innovative financing facility dedicated to fund onshore wind projects in development phase, projects under construction and a portfolio of operating assets.
  • The financing scheme consists of three different tranches with different use of funds.
  • We are proud to have developed together with the Capcora specialists an innovate financing facility which exactly meets our different funding needs.

MedMen Announces Increased Financing Commitment – Designated News Release

Retrieved on: 
Monday, November 2, 2020
Finance, Tobacco, Specialty, Professional services, Alternative medicine, Health, Retail, Agriculture, Natural Resources, Finance, Money, Cannabis in California, MedMen, Fixed-income securities, Structured finance, Loans, Cannabis, Tranche

The remaining US$8,000,000 is related to the unsecured convertible facility, with additional tranches expected to close in the coming months.

Key Points: 
  • The remaining US$8,000,000 is related to the unsecured convertible facility, with additional tranches expected to close in the coming months.
  • The Company previously closed on US$3,000,000 (Initial Closing) of the US$10,705,279 financing commitment under the Senior Secured Term Loan.
  • Further details on the financing commitments are available can be found on the Companys press release dated September 16, 2020.
  • Learn more about MedMen and The MedMen Foundation at www.medmen.com .

Global Jet Capital Completes Securitization, Raising $522M

Retrieved on: 
Monday, November 2, 2020
Finance, Credit risk, United States housing bubble, Money, Debt, Securitization, Economy, Financial law, Fixed-income securities

Danbury, CT, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Global Jet Capital, a global leader in financial solutions for business aircraft, announced today the closing of its BJETS 2020-1 securitization, raising approximately $522 million.

Key Points: 
  • Danbury, CT, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Global Jet Capital, a global leader in financial solutions for business aircraft, announced today the closing of its BJETS 2020-1 securitization, raising approximately $522 million.
  • BJETS 2020-1 is Global Jet Capitals fourth ABS offering, bringing total assets securitized to over $2.8 billion and bonds issued to over $2.3 billion.
  • Global Jet Capital, Inc. will continue to service the securitized assets.
  • Earlier in October, Global Jet Capital entered into its first privately placed financing transaction, raising $77 million in new funding for the business.The single-tranche investment-grade rated debt was placed with a single institutional investor.EA Markets served as exclusive financial advisor and placement agent for Global Jet Capital.

Ellington Financial Inc. Completes $219.7 Million Non-QM Loan Securitization

Retrieved on: 
Monday, November 2, 2020
Professional services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Banking, Finance, Money, Financial markets, Structured finance, United States housing bubble, Fixed-income securities, Mortgage-backed security, Financial law, Ellington Management Group, Asset-backed security, Securitization, Mortgage loan, Ellington Financial Inc., LendSure Mortgage Corp.

Ellington Financial Inc. (NYSE: EFC) (the "Company") announced today that it has closed a $219.7 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans.

Key Points: 
  • Ellington Financial Inc. (NYSE: EFC) (the "Company") announced today that it has closed a $219.7 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans.
  • I am very pleased with the execution of this securitization of non-QM loans, our second this year, said JR Herlihy, Chief Financial Officer of the Company.
  • Ellington Financial invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments.
  • Ellington Financial is externally managed and advised by Ellington Financial Management LLC, an affiliate of Ellington Management Group, L.L.C.

Better Choice Closes Third Tranche of Series F and Completes Equity Raise Totaling Cumulative $21.7M

Retrieved on: 
Tuesday, October 27, 2020
Fixed-income securities, Structured finance, Tranche, CPG, Fast-moving consumer goods, OTC Markets Group, Finance, Microeconomics, Money

Final Tranche is Anchored by Iconic Consumer Packaged Goods Private Equity Firm, Cambridge Companies SPG

Key Points: 
  • Final Tranche is Anchored by Iconic Consumer Packaged Goods Private Equity Firm, Cambridge Companies SPG
    NEW YORK, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Better Choice Company Inc. (OTCQB: BTTR) (Better Choice or the Company), an animal health and wellness company, today announced the closing of its third and final tranche of Series F equity capital.
  • Cumulative funding totals $21.7M, with third round being anchored by consumer packaged goods (CPG) specialist Cambridge SPG.
  • "We have been following the growth of Better Choice for the last 2+ years and are extremely excited to lead the Companys final Series F round.
  • For 2020, Cambridge SPGs 27 portfolio companies will surpass more than $750M of cumulative annual revenue.

New York Fed Selects Mischler Financial Group to Support SMCCF and Becomes Approved Counterparty for Open Market Agency CMBS Program

Retrieved on: 
Monday, October 26, 2020
Finance, Public relations, Investor relations, Banking, Communications, Professional services, Finance, Money, Financial markets, Structured finance, Mischler Financial Group, Fixed-income securities, Mischler, Mortgage-backed security, Commercial mortgage-backed security, Commercial mortgage, Counterparty

Diversity-certified investment bank and institutional brokerage Mischler Financial Group, Inc. (MFG) has announced that it has been selected by the Federal Reserve Bank of New York to support the Secondary Market Corporate Credit Facility (SMCCF) and is also selected to serve as an approved counterparty for the Open Market Trading Desks purchases of agency commercial mortgage-backed securities (CMBS).

Key Points: 
  • Diversity-certified investment bank and institutional brokerage Mischler Financial Group, Inc. (MFG) has announced that it has been selected by the Federal Reserve Bank of New York to support the Secondary Market Corporate Credit Facility (SMCCF) and is also selected to serve as an approved counterparty for the Open Market Trading Desks purchases of agency commercial mortgage-backed securities (CMBS).
  • Approved firms for both SMCCF and the Agency CMBS counterparty program have been selected based on eligibility requirements, including size restrictions, transaction capabilities, financial condition, compliance controls, and equal opportunity and diversity efforts.
  • Mischler had previously been selected by the New York Fed to participate in its inaugural Treasury Operations Counterparty Pilot Program in 2013, as well as the inaugural Mortgage-Backed Securities Pilot Program in 2014.
  • Established in 1994, Mischler is the securities industrys oldest minority-certified broker-dealer owned and operated by Service-Disabled Veterans, a federally-certified Service-Disabled Veteran-Owned Small Business Enterprise (SDVOSB) and a certified Minority Owned Business (MBE).

Trepp Announces RMS Integration to Give CMBS Investors Access to Environmental Risk Measures

Retrieved on: 
Wednesday, October 21, 2020
Finance, Money, Structured finance, Financial services, Mortgage, Fixed-income securities, United States housing bubble, Commercial mortgage-backed security, Mortgage-backed security, Commercial mortgage, Trepp, Risk

The Trepp integration of RMS solutions provides an environmental risk score for properties backing commercial mortgage-backed securities (CMBS) loans.

Key Points: 
  • The Trepp integration of RMS solutions provides an environmental risk score for properties backing commercial mortgage-backed securities (CMBS) loans.
  • For years, RMS has provided accurate, holistic risk scoring to the insurance markets to support quantifying the potential cost of disasters like Category 5 hurricanes and similar environmental catastrophes.
  • "The Trepp implementation of RMS will be an important tool for investors tasked with measuring, improving, or ranking the climate change-related portion of a firm's environmental risk as part of their environmental, social, and governance (ESG) strategy," said Steve Baumgartner, Trepp's Chief Innovation Officer.
  • Using RMS property loss and business interruption data, Trepp has identified the geographic distribution of risks across properties backing CMBS loans.

KBRA Assigns Preliminary Ratings to GS Mortgage Securities Corporation Trust 2020-TWN3

Retrieved on: 
Tuesday, October 20, 2020
Banking, Professional services, Finance, Finance, Structured finance, Money, United States housing bubble, Fixed-income securities, Mortgage-backed security, Commercial mortgage-backed security, Securitization, Mortgage loan, Credit rating agency, KBRA

Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to 11 classes of GS Mortgage Securities Corporation Trust 2020-TWN3, a CMBS single-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to 11 classes of GS Mortgage Securities Corporation Trust 2020-TWN3, a CMBS single-borrower securitization.
  • In addition, KBRA also relied on its Global Structured Finance Counterparty Methodology for assessing counterparty risk in this transaction, to the extent deemed applicable.
  • The results of our analysis yielded a KBRA net cash flow (KNCF) for the portfolio of roundly $29.8 million.
  • To value the portfolio, we applied a blended capitalization rate of 12.21% to arrive at a KBRA value of approximately $244.4 million ($34,229 per key).