EURIBOR

Global Blue Completes Strategic Equity Investment and Entry Into New Credit Agreement

Retrieved on: 
Wednesday, November 29, 2023
Data Management, Other Retail, Supply Chain Management, Online Retail, Technology, Professional Services, Payments, Other Technology, Retail, Other Professional Services, Mobile, Wireless, Tencent, Sale, RCF, Silver, EURIBOR, NYSE, Partners Group, Global Blue, Internet, Security (finance)

Global Blue Group Holding AG (NYSE: GB and GB.WS), the leading strategic technology and payments partner powering retailers’ improved performance and enhancing shoppers’ experience, is pleased to announce the completion of the strategic equity investment with Tencent, a world leading internet and technology company, and the signing of a new credit agreement which is anticipated to close in early December.

Key Points: 
  • Global Blue Group Holding AG (NYSE: GB and GB.WS), the leading strategic technology and payments partner powering retailers’ improved performance and enhancing shoppers’ experience, is pleased to announce the completion of the strategic equity investment with Tencent, a world leading internet and technology company, and the signing of a new credit agreement which is anticipated to close in early December.
  • Further to the share purchase and investment agreement dated November 16, 2023, on November 28, 2023, Global Blue completed the sale to Tencent of approximately 9.1 million newly issued common shares for a total consideration of $50 million.
  • Global Blue intends to use the proceeds of the sale to reduce its debt balance, in pursuit of its long-term target of net leverage of less than 2.5x Net Debt / Adjusted EBITDA.
  • On November 24, 2023, to further strengthen its balance sheet, Global Blue entered into a new credit agreement consisting of a senior secured term loan (“term loan”) of €610.0 million and a senior secured revolving credit facility (“RCF”) of €97.5 million.

Encore Capital Group Completes Offering of Senior Secured Floating Rate Notes

Retrieved on: 
Monday, October 16, 2023
EURIBOR, Encore Capital Group, ECPG, Encore, MCM, SAN, Bank

SAN DIEGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that it has completed its offering of €100.0 million aggregate principal amount of its senior secured floating rate notes due 2028 with a coupon of three-month EURIBOR (subject to a 0% floor) plus 4.250% at an issue price of 99.01%.

Key Points: 
  • SAN DIEGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that it has completed its offering of €100.0 million aggregate principal amount of its senior secured floating rate notes due 2028 with a coupon of three-month EURIBOR (subject to a 0% floor) plus 4.250% at an issue price of 99.01%.
  • Encore will use the proceeds from this offering to repay drawings under its revolving credit facility, and to pay certain transaction fees and expenses incurred in connection with the offering of the notes.
  • “The completion of our senior secured floating rate note offering today, as an addition to our December 2020 offering, demonstrates that our global funding structure continues to provide us with one of the best balance sheets in the global credit management services industry,” said Jonathan Clark, Executive Vice President and Chief Financial Officer.
  • “With growing supply and improving pricing in the U.S. debt buying market, we expect 2023 will be a record year of capital deployment for our MCM business with strong returns.

Vantiva announced a new short term €85 million financing

Retrieved on: 
Thursday, October 12, 2023
SAS, Term, Acquisition, Credit, Parent, EURIBOR, Euronext Paris, Security (finance), Vantiva

Paris – October 12th, 2023 - Vantiva (Euronext Paris: VANTI),

Key Points: 
  • Paris – October 12th, 2023 - Vantiva (Euronext Paris: VANTI),
    Vantiva SA (Euronext Paris: VANTI) is pleased to announce that Vantiva Technologies SAS has entered into a credit agreement (the “Credit Agreement”), pursuant to which a term facility in an aggregate principal amount of €85,000,000 (the “Term Facility”) has been provided by Barclays Bank Ireland PLC and participated in by certain funds managed/and or advised (directly or indirectly) by Angelo Gordon & Co., L.P. ("Angelo Gordon”).
  • The Term Facility has a maturity date of 31 March 2024 and bears interest at a rate of EURIBOR plus 10%, and which is payable in-kind.
  • Vantiva SA is a party to the Credit Agreement as Parent and Guarantor.
  • Angelo Gordon and Barclays Bank Ireland PLC (each of whom are lenders under Vantiva SA’s existing financing arrangements in addition to the Term Facility) have indicated their continued support for the business and its acquisition of CommScope’s Home Network’s division, announced on 3 October 2023.

Encore Capital Group, Inc. Announces Pricing of Senior Secured Floating Rate Notes Offering

Retrieved on: 
Monday, October 9, 2023
Issuer, Note, ECPG, Person, SAN, SEC Rule 144A, Regulation, EURIBOR, Encore Capital Group, Sale, Security (finance)

The notes will be issued as "additional notes" under the Company's existing notes indenture dated December 21, 2020, and will have the same terms as the Company's currently outstanding senior secured floating rate notes due 2028.

Key Points: 
  • The notes will be issued as "additional notes" under the Company's existing notes indenture dated December 21, 2020, and will have the same terms as the Company's currently outstanding senior secured floating rate notes due 2028.
  • The Notes will bear interest at a rate equal to the sum of (i) three-month EURIBOR (subject to a 0% floor) plus (ii) 4.250% per annum, reset quarterly.
  • The notes will be senior secured obligations of the Company, and will be fully and unconditionally guaranteed on a senior secured basis by substantially all material subsidiaries of the Company.
  • Any offer of the securities will be made only by means of a private offering memorandum.

Encore Capital Group, Inc. Announces Proposed Senior Secured Floating Rate Notes Offering

Retrieved on: 
Monday, October 9, 2023
Issuer, Note, ECPG, Person, SAN, SEC Rule 144A, Regulation, EURIBOR, ERC, Encore Capital Group, Sale, Security (finance)

The notes will be issued as "additional notes" under the Company's existing notes indenture dated December 21, 2020, and will have the same terms as the Company's currently outstanding senior secured floating rate notes due 2028.

Key Points: 
  • The notes will be issued as "additional notes" under the Company's existing notes indenture dated December 21, 2020, and will have the same terms as the Company's currently outstanding senior secured floating rate notes due 2028.
  • The Notes will bear interest at a rate equal to the sum of (i) three-month EURIBOR (subject to a 0% floor) plus (ii) 4.250% per annum, reset quarterly.
  • The notes will be senior secured obligations of the Company, and will be fully and unconditionally guaranteed on a senior secured basis by substantially all material subsidiaries of the Company.
  • The issue price of the notes will be determined at the pricing of the offering.

Azerion successfully places EUR 165 million of senior secured floating rate bonds

Retrieved on: 
Thursday, September 14, 2023
ACT, AS, NOT, FOR, Azerion Group N.V., AMERICA, Roschier, EUR, ISIN, EURIBOR, Security (finance)

Amsterdam, 14 September 2023 – Azerion Group N.V. (the “Company”) has, following a bookbuilding process, successfully placed EUR 165 million of senior secured floating rate bonds under a framework of EUR 300 million to qualified institutional investors internationally (the “New Bonds”).

Key Points: 
  • Amsterdam, 14 September 2023 – Azerion Group N.V. (the “Company”) has, following a bookbuilding process, successfully placed EUR 165 million of senior secured floating rate bonds under a framework of EUR 300 million to qualified institutional investors internationally (the “New Bonds”).
  • The New Bonds will have a 3-year tenor, will carry a floating rate coupon of 3 months EURIBOR plus 6.75 per cent per annum and were issued at 98.5 per cent of par.
  • Proceeds from the New Bonds in combination with current cash holdings of the Company will be used to fully redeem the Company’s outstanding EUR 200 million senior secured fixed rate bonds (ISIN SE0015837794) (the “Existing Bonds”) and to finance general corporate purposes of the Company, including capital expenditure and transaction costs.
  • Settlement of the New Bonds is expected to take place on 2 October 2023 (the "First Issue Date").

Radius Global Infrastructure Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 9, 2023
Residential Building & Real Estate, Commercial Building & Real Estate, Technology, Construction & Property, Telecommunications, External commercial borrowing, Investment, Tripura Merger Agreement, Tax, Radius, Public, GAAP, USD, Mergers and acquisitions, EQT, Public Sector Pension Investment Board, Security (finance), PSP, EURIBOR, Cryptocurrency, Bank

Radius Global Infrastructure, Inc. (Nasdaq: RADI) (“Radius” or the “Company”), one of the largest international owners and acquirors of real property interests and similar contractual rights underlying essential digital infrastructure assets, today reported financial results for the quarter ended June 30, 2023.

Key Points: 
  • Radius Global Infrastructure, Inc. (Nasdaq: RADI) (“Radius” or the “Company”), one of the largest international owners and acquirors of real property interests and similar contractual rights underlying essential digital infrastructure assets, today reported financial results for the quarter ended June 30, 2023.
  • Bill Berkman, Co-Chairman and CEO of Radius Global Infrastructure, commented:
    “We generated quarterly Revenue of $42.5 million in the second quarter of 2023, up 30% from the second quarter of 2022, with Gross Profit increasing to $40.0 million, up 31% year-over-year.
  • In the second quarter, our Annualized In-Place Rents increased by 34% year-over-year to $176.7 million.
  • In the second quarter, we invested $110.9 million to acquire 223 communication sites that are generating $8.3 million of annual rent.

TA Advisory FZ LLC: Saif Alketbi Promises to Resist Further Attempts by Fortenova Management to Unfairly Sell Company Assets – and Offers a Solution

Retrieved on: 
Wednesday, June 28, 2023
Asset Management, Legal, Professional Services, Finance, Wine, ART, Lawyer, Sberbank, Sale, Depositary receipt, HPS, Lazard, Pass, European, SBK, United Arab Emirates, Security (finance), Cryptocurrency, Food delivery, EU, EURIBOR, Fortenova Group

Mr Alketbi, Fortenova’s largest shareholder, is closely monitoring Fortenova management's next moves, together with his legal team.

Key Points: 
  • Mr Alketbi, Fortenova’s largest shareholder, is closely monitoring Fortenova management's next moves, together with his legal team.
  • In a letter to international investment bank Lazard on 16 June 2023, Mr Alketbi declared a significant interest in acquiring Fortenova Group MidCo.
  • This is an onerous debt burden, and attempts by Fortenova Group’s management to blame this on the company's ownership structure are at odds with reality.
  • Mr Alketbi is advised by lawyers TA Advisory in Dubai, as well as legal counsel in other jurisdictions.

SOFR Academy welcomes publication of “EURAXI: a benchmark for Euro credit spreads” paper by University of Oxford academics

Retrieved on: 
Tuesday, June 27, 2023
University, Banking, Accounting, Education, Professional Services, Business, Small Business, Legal, Insurance, Other Education, Finance, National university, Eurozone, Oxford Martin School, Feedback, LIBOR, Australian National University, Risk management, SOFR, Chinese, Research fellow, Stanford Graduate School of Business, Index, AXI, Invesco, Asset-backed security, International Organization of Securities Commissions, Tsinghua University, Paper, Institute for New Economic Thinking, International Organization (journal), NYSE, EURIBOR, Mathematical finance, RFR Engineers, Security (finance), EU, Euro

Today, SOFR Academy, a financial education and market information provider, welcomed the publication of the paper “EURAXI: a benchmark for Euro credit spreads” by leading academics Professor Rama Cont and Dr Susanna Saroyan of the University of Oxford, England.

Key Points: 
  • Today, SOFR Academy, a financial education and market information provider, welcomed the publication of the paper “EURAXI: a benchmark for Euro credit spreads” by leading academics Professor Rama Cont and Dr Susanna Saroyan of the University of Oxford, England.
  • The authors propose a methodology for constructing EURAXI, a transaction-based credit spread benchmark for Euro interest rates, which considers specific features of Euro-denominated wholesale funding.
  • Finally, the paper discusses robustness and representativeness of EURAXI in line with the International Organization of Securities Commissions principles for benchmark design and EU regulation.
  • The publication of the EURAXI paper complements the Chinese AXI paper produced by academics at the Tsinghua University PBC School of Finance in Beijing, China.

EQS-News: Multitude SE publishes its bond prospectus and applies for listing of bonds on Nasdaq Stockholm

Retrieved on: 
Thursday, June 15, 2023
Prospectus, Finnish Financial Supervisory Authority, Multitude, Swedish financial transaction tax, Nasdaq Stockholm, EURIBOR, Security (finance), Bond

Helsinki, 14 June 2023 - Multitude SE ("Multitude" or the "Company") has issued senior unsecured bonds of EUR 50,000,000 under a framework of up to EUR 150,000,000 on 21 December 2022 on the Swedish and German bond market.

Key Points: 
  • Helsinki, 14 June 2023 - Multitude SE ("Multitude" or the "Company") has issued senior unsecured bonds of EUR 50,000,000 under a framework of up to EUR 150,000,000 on 21 December 2022 on the Swedish and German bond market.
  • The bonds carry a floating interest rate of EURIBOR 3m + 7.50 per cent.
  • The Prospectus is available in English together with a Swedish translation of the summary on the Company's website at https://www.multitude.com/investors/fixed-income-investors/multitude-se.
  • The Company has today submitted an application for listing of the Bonds on the corporate bond list at Nasdaq Stockholm.