OID

Successful Amend and Extend Refinancing by IFCO

Retrieved on: 
Thursday, March 21, 2024
Municipal solid waste, EUR, Container, Meat, Growth, Investment advisory, Reusability, OID, Vegetable, ESG, ADIA, Acquisition, Transport, Digital, Carbon, Credit, CO2, Term loan, RPC, Bank

MUNICH, March 21, 2024 /PRNewswire/ -- IFCO, the world's leading provider of Reusable Packaging Containers (RPCs) for fresh food, has successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule. The volume has been increased to EUR 1,640 million and the Revolving Credit Facility to EUR 310 million. The transaction met with very high demand from institutional investors from both domestic and foreign markets. The previous loan was taken out in May 2019 after the joint acquisition of IFCO by Triton and ADIA.

Key Points: 
  • MUNICH, March 21, 2024 /PRNewswire/ -- IFCO, the world's leading provider of Reusable Packaging Containers (RPCs) for fresh food, has successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule.
  • The previous loan was taken out in May 2019 after the joint acquisition of IFCO by Triton and ADIA.
  • With the new loan, IFCO succeeds in expanding the financing framework for its planned further growth and takes advantage of the favorable market environment to extend the credit lines.
  • This very successful financial transaction is further evidence of the right portfolio strategy," says Martin Fikus, Investment Advisory Professional at Triton Partners.

Successful Amend and Extend Refinancing by IFCO

Retrieved on: 
Thursday, March 21, 2024
Municipal solid waste, EUR, Container, Meat, Growth, Investment advisory, Reusability, OID, Vegetable, ESG, ADIA, Acquisition, Transport, Digital, Carbon, Credit, CO2, Term loan, RPC, Bank

MUNICH, March 21, 2024 /PRNewswire/ -- IFCO, the world's leading provider of Reusable Packaging Containers (RPCs) for fresh food, has successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule. The volume has been increased to EUR 1,640 million and the Revolving Credit Facility to EUR 310 million. The transaction met with very high demand from institutional investors from both domestic and foreign markets. The previous loan was taken out in May 2019 after the joint acquisition of IFCO by Triton and ADIA.

Key Points: 
  • MUNICH, March 21, 2024 /PRNewswire/ -- IFCO, the world's leading provider of Reusable Packaging Containers (RPCs) for fresh food, has successfully refinanced the Term Loan B in an Amend and Extend transaction ahead of schedule.
  • The previous loan was taken out in May 2019 after the joint acquisition of IFCO by Triton and ADIA.
  • With the new loan, IFCO succeeds in expanding the financing framework for its planned further growth and takes advantage of the favorable market environment to extend the credit lines.
  • This very successful financial transaction is further evidence of the right portfolio strategy," says Martin Fikus, Investment Advisory Professional at Triton Partners.

Flourish Announces Flourish Annuities, a Platform and Marketplace to Unlock $350B Annuity Market for RIAs

Retrieved on: 
Wednesday, January 17, 2024
Insurance, Investment, RIA, OID, RIAS, Financial adviser

The $350B annuities market has been on the rise, hitting a sales record of $183B in the first half of last year.

Key Points: 
  • The $350B annuities market has been on the rise, hitting a sales record of $183B in the first half of last year.
  • However, annuities have often been inaccessible to independent RIAs due to the many complexities and pain points of offering insurance products.
  • Until now, the user experience for both advisors and clients has made annuities more trouble than they’re worth for independent RIAs.
  • “Flourish Annuities introduces a convenient way for RIAs to open the door to these tax-advantaged investments for their clients.

Introducing OneNexus WellSecure for Oil & Gas Plugging Liabilities

Retrieved on: 
Tuesday, November 14, 2023
P&A, JIB, OID, Risk, Milliman, Munich Re, Oklahoma Department of Insurance, Partnership, Life, Bank, Life insurance, ARO

HOUSTON, Nov. 14, 2023 (GLOBE NEWSWIRE) -- OneNexus, the exclusive provider of innovative financial solutions for the oil and gas industry’s decommissioning obligations, introduces its life insurance-like product, OneNexus WellSecure (WellSecure).

Key Points: 
  • HOUSTON, Nov. 14, 2023 (GLOBE NEWSWIRE) -- OneNexus, the exclusive provider of innovative financial solutions for the oil and gas industry’s decommissioning obligations, introduces its life insurance-like product, OneNexus WellSecure (WellSecure).
  • Developed by OneNexus to help the energy industry meet the challenge of its ever-growing Asset Retirement Obligations (ARO), WellSecure stands alone as the only insured financial contract that provides long-term financial security for the purpose of funding oil and gas decommissioning liabilities.
  • Permanent: Structured as an insured financial contract, WellSecure guarantees funding with capital held securely in a regulated insurance company, OneNexus Oklahoma Captive Corporation (OOCC).
  • Guaranteed: OneNexus WellSecure provides guaranteed financial benefits via its $100M permanent capital partnership with Munich Re, which is structured to provide coverage for more than $1 billion of oil and gas decommissioning liabilities.

AustralianSuper increases Churchill Asset Management partnership to US$1.5 billion

Retrieved on: 
Wednesday, December 13, 2023
Banking, Asset Management, Professional Services, Finance, Equilibrium, Winston Churchill, Acquisition, Fund, WTW, Investment, OID, History, Thought, TIAA, Pension, Ageing, Partnership, Retirement, Environment, Pension fund, Security (finance), Bank, Nuveen, AustralianSuper

AustralianSuper, Australia’s largest superannuation fund, today announced it has increased the program size of its partnership with Churchill Asset Management, an investment specialist affiliate of Nuveen, to US$1.5 billion.

Key Points: 
  • AustralianSuper, Australia’s largest superannuation fund, today announced it has increased the program size of its partnership with Churchill Asset Management, an investment specialist affiliate of Nuveen, to US$1.5 billion.
  • Churchill is the US$47 billion U.S. private capital investment-specialist of Nuveen, the asset manager of TIAA.
  • In 2022, Nuveen expanded its private debt platform with the acquisition of Arcmont Asset Management, covering the European market.
  • Ken Kencel, President and CEO of Churchill said:
    “We are excited to grow our partnership with AustralianSuper, Australia’s largest superannuation fund, and increasingly an investment leader on the global stage.

KBRA Releases Research – Third-Quarter 2023 Business Development Company (BDC) Ratings Compendium and 2024 Sector Outlook

Retrieved on: 
Friday, December 8, 2023
Professional Services, Finance, EBITDA, Environment, OID, KBRA, Pressure, FV, NII, BDC, Bank, Security (finance), Telescopic sight

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended September 30, 2023, as well as provides our 2024 Sector Outlook.

Key Points: 
  • KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended September 30, 2023, as well as provides our 2024 Sector Outlook.
  • The performance of KBRA-rated BDCs remains stable with solid credit metrics, including comfortable liquidity considering near-term maturities, low non-accruals, and appropriate leverage.
  • KBRA’s Outlook for our portfolio of rated BDCs remains generally Stable, reflecting our view that they can successfully manage through a more uncertain environment in 2024.
  • BDC portfolio growth remains muted to maintain conservative leverage in anticipation of a more stressful economic environment in 2024.

KBRA Releases Research – Second-Quarter 2023 Business Development Company (BDC) Ratings Compendium

Retrieved on: 
Thursday, September 7, 2023
Banking, Professional Services, Finance, KBRA, Pressure, BDC Building, BDC, Bank, EBITDA, OID, Environment, NII, Telescopic sight, Security (finance)

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended June 30, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments.

Key Points: 
  • KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended June 30, 2023, and offers a review of perpetual continuously offered non-traded BDCs as well as recent industry developments.
  • BDCs account for less than 20% of the total global direct lending market and have the capacity to continue increasing share.
  • As BDCs continue to broaden their market share, they have underwritten loans upmarket to include portfolio companies with EBITDA in excess of $100 million.
  • Bank sources of funding remain appropriate, as BDCs rely on this source given the difficulty in accessing public markets.

Dave & Buster’s Entertainment, Inc. Announces Amendment to Credit Agreement, Reduces Spread 1.25% and Further Enhances Liquidity Position with Upsize of Term Loan B to $900 Million on Strong Demand

Retrieved on: 
Wednesday, July 5, 2023
OID, Term loan, JPMorgan Chase, Capital One, Main Event, Wells Fargo, Form, Chase Bank, National Association, MDY Industries, LLC v. Blizzard Entertainment, Inc., Dave & Buster's, Economics, Fifth Third Bank, Bank

DALLAS, July 05, 2023 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ: PLAY), ("Dave & Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced that the Company successfully amended its credit agreement, achieving favorable pricing and upsizing the Term Loan B facility to $900 million.

Key Points: 
  • DALLAS, July 05, 2023 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ: PLAY), ("Dave & Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced that the Company successfully amended its credit agreement, achieving favorable pricing and upsizing the Term Loan B facility to $900 million.
  • Deutsche Bank Securities Inc., JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC, BMO Capital Markets Corp., Truist Securities Inc., Capital One, N.A.
  • and Fifth Third Bank, National Association acted as joint lead arrangers and joint bookrunners for the transaction.
  • Please refer to the Form 8-K filed with the SEC for additional information on the amended credit agreement.

KBRA Releases Research – First-Quarter 2023 Business Development Company (BDC) Ratings Compendium

Retrieved on: 
Friday, June 16, 2023
Professional Services, Finance, KBRA, EV/Ebitda, BDC, Bank, OID, NII, Telescopic sight, Security (finance)

KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended March 31, 2023, as well as recent industry developments.

Key Points: 
  • KBRA releases its Business Development Company Ratings Compendium, which looks at results for the quarter ended March 31, 2023, as well as recent industry developments.
  • BDCs continue to benefit from increasing rates, and many have increased their base dividends during the quarter in anticipation of continued solid net interest income (NII) going forward.
  • BDC portfolio growth remains muted in order to maintain conservative leverage in anticipation of a more stressful economic environment in 2H23.
  • However, internal risk ratings have worsened somewhat with lower interest coverage ratios―in many cases below 2x with an uptick in interest rates.

Technicolor Creative Studios: Update on the Company's Refinancing

Retrieved on: 
Friday, June 9, 2023
New Money, OID, Mass meeting, Annual general meeting, Euronext Paris, Prospectus, AMF, Barclays, Security (finance), Beneficiary

Paris (France), June 9, 2023 - Technicolor Creative Studios (Euronext Paris: symbol TCHCS) (the "Company") announces today the successful completion of the main steps required under the conciliation protocol entered into in March 2023 (the “Conciliation Protocol”).

Key Points: 
  • Paris (France), June 9, 2023 - Technicolor Creative Studios (Euronext Paris: symbol TCHCS) (the "Company") announces today the successful completion of the main steps required under the conciliation protocol entered into in March 2023 (the “Conciliation Protocol”).
  • The Company also allocated yesterday 501,125,088 warrants giving the right to subscribe to a maximum number of 501,125,088 new shares, at a price of one euro cent (0.01 euro) per new share to the New Money Lenders (the “New Money Warrants”).
  • The Reserved Share Capital Increase, the issuance of the Convertible Notes and the issuance and allocation of the New Money Warrants were authorized by the Company's general shareholders’ meeting of May 15, 2023 (the “General Meeting”).
  • Following the fulfillment of these two conditions2, the reverse share split will take place in accordance with the timeline provided in the Company's press release dated May 31, 2023.