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KBRA Assigns Preliminary Ratings to Brex Commercial Charge Card Master Trust, Series 2024-1

Retrieved on: 
Thursday, March 7, 2024

KBRA assigns preliminary ratings to two classes (three tranches) of notes that will be issued from Brex Commercial Charge Card Master Trust, Series 2024-1 (“Brex 2024-1”), a corporate charge card asset backed securities transaction issued out of the Brex Commercial ChargeCard Master Trust (“Master Trust”).

Key Points: 
  • KBRA assigns preliminary ratings to two classes (three tranches) of notes that will be issued from Brex Commercial Charge Card Master Trust, Series 2024-1 (“Brex 2024-1”), a corporate charge card asset backed securities transaction issued out of the Brex Commercial ChargeCard Master Trust (“Master Trust”).
  • The ratings reflect the initial credit enhancement levels of 25.77% for the Class A-1 notes and 4.42% for the Class B notes.
  • Brex 2024-1, represents the Company’s fourth series issued out of the Master Trust.
  • The Brex 2024-1 Notes are collateralized by a pool of non-revolving corporate charge card accounts, and receivables created from those accounts in the Master Trust, for which the Series 2024-1 Notes are allocated a percentage interest.

Freddie Mac Multifamily Issued Over $53 Billion in 2023 Securities

Retrieved on: 
Thursday, January 4, 2024

A leading issuer of multifamily securities, Freddie Mac Multifamily settled $33.3 billion in K-Deals®, the company’s signature offering, over the year.

Key Points: 
  • A leading issuer of multifamily securities, Freddie Mac Multifamily settled $33.3 billion in K-Deals®, the company’s signature offering, over the year.
  • “In 2023, Freddie Mac Multifamily delivered on our mission as a steady and consistent issuer in the rental housing market, underscoring our countercyclical role to provide liquidity and stability in the face of headwinds,” said Jason Griest, vice president of Multifamily Securitization for Freddie Mac.
  • In another adaptation to market demand over the past year, Freddie Mac Multifamily issued the first 5-year K-Deal since 2016, closing eight 5-year transactions totaling $5.3 billion in 2023.
  • Freddie Mac has settled $682 billion in Multifamily securities through its K-Deal and various other risk-transfer offerings since the inception of the program in 2009.

Manganese Complex Leads the Way to Affordable and Sustainable Bright White OLEDs

Retrieved on: 
Tuesday, December 5, 2023

SEOUL, South Korea, Dec. 5, 2023 /PRNewswire/ -- Organic light-emitting diodes (OLEDs) are considered new and promising light sources for illuminating digital displays and indoor/outdoor spaces. One of the most popular commercial methods for fabricating OLEDs is the solution processing approach. However, while the fabrication process of such LEDs itself is low-cost and simple, the raw materials used during solution process often include precious and expensive metals such as rare earth metals, driving up the fabrication costs.

Key Points: 
  • Scientists at Dongguk University have developed a new environmentally friendly and cost-effective bright green light-emitting manganese complex called MnBz for organic light-emitting diodes (OLEDs).
  • The material was used to fabricate a first-of-its-kind Mn-based white OLED device and a green OLED device with record high efficiency.
  • SEOUL, South Korea, Dec. 5, 2023 /PRNewswire/ -- Organic light-emitting diodes (OLEDs) are considered new and promising light sources for illuminating digital displays and indoor/outdoor spaces.
  • One of the most popular commercial methods for fabricating OLEDs is the solution processing approach.

Sunrun Reports Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, November 1, 2023

Customers grew 19% in the third quarter of 2023 compared to the third quarter of 2022.

Key Points: 
  • Customers grew 19% in the third quarter of 2023 compared to the third quarter of 2022.
  • Total revenue was $563.2 million in the third quarter of 2023, down $68.7 million, or 11%, from the third quarter of 2022.
  • During the third quarter of 2023, Sunrun recorded a non-cash goodwill impairment charge of approximately $1.2 billion.
  • Sunrun is hosting a conference call for analysts and investors to discuss its third quarter 2023 results and business outlook at 2:00 p.m. Pacific Time today, November 1, 2023.

Fundamental Income Announces Closing of Upsized $314.9 Million Securitization to Fund Continued Growth of $1.5 Billion Net Lease Portfolio

Retrieved on: 
Wednesday, November 1, 2023

Fundamental Income Properties (“Fundamental Income” or the “Company”), a Phoenix-based net lease investment firm that has acquired and financed approximately $1.5 billion of single-tenant properties across 43 states and 44 industries since 2020, today announced the issuance of $314.9 million of long-term, fixed-rate notes designated as Fundamental Income Net-Lease Mortgage Notes, Series 2023-2.

Key Points: 
  • Fundamental Income Properties (“Fundamental Income” or the “Company”), a Phoenix-based net lease investment firm that has acquired and financed approximately $1.5 billion of single-tenant properties across 43 states and 44 industries since 2020, today announced the issuance of $314.9 million of long-term, fixed-rate notes designated as Fundamental Income Net-Lease Mortgage Notes, Series 2023-2.
  • This is the second issuance under Fundamental Income’s dedicated structured debt vehicle, FI Master Trust.
  • The Company launched the vehicle with a $328.9 million inaugural issuance in March of this year.
  • “We are excited to announce the successful execution of the second note issuance under our FI Master Trust securitization program.

Sunrun Closes $715 million Senior Securitization of Residential Solar & Battery Systems and Raises $253 million of Additional Subordinated Financing

Retrieved on: 
Thursday, September 28, 2023

"We are pleased with Sunrun's record-setting transaction, placing the largest ever residential solar securitization for the industry and subsequently raising additional non-recourse financings, ” said Danny Abajian, Sunrun’s Chief Financial Officer.

Key Points: 
  • "We are pleased with Sunrun's record-setting transaction, placing the largest ever residential solar securitization for the industry and subsequently raising additional non-recourse financings, ” said Danny Abajian, Sunrun’s Chief Financial Officer.
  • The $440mm Class A-1 notes were marketed in a public asset backed securitization whereas the $275mm Class A-2 notes were privately placed.
  • The spread of 240bps represents an improvement of 25bps from Sunrun’s 2023-1 asset backed securitization in May 2023.
  • In connection with including these seasoned assets in the financing, Sunrun also repaid $255 million in total debt, including senior and subordinated term loans maturing in 2024 and 2029, respectively.

Sunrun Prices Record-Setting $715 million Senior Securitization of Residential Solar & Battery Systems

Retrieved on: 
Thursday, September 14, 2023

“The capital markets continue to recognize the high quality of Sunrun’s residential solar assets, and the company’s industry-leading performance as an originator and servicer.

Key Points: 
  • “The capital markets continue to recognize the high quality of Sunrun’s residential solar assets, and the company’s industry-leading performance as an originator and servicer.
  • This latest securitization sets new records, representing the largest securitization in Sunrun’s history and also the largest across the entire residential solar industry.
  • The $440mm Class A-1 notes were marketed in a public asset backed securitization whereas the $275mm Class A-2 notes were privately placed.
  • The spread of 240bps represents an improvement of 25bps from Sunrun’s 2023-1 asset backed securitization in May 2023.

ADIDAS AG (OTC PINK: ADDDF, ADDYY) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against adidas AG

Retrieved on: 
Tuesday, May 30, 2023

NEW YORK, May 30, 2023 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of adidas AG ("adidas", "Adidas" or the "Company") (OTC PINK: ADDDF, ADDYY) between May 3, 2018 and February 21, 2023, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the District of Oregon and alleges violations of the Securities Exchange Act of 1934.

Key Points: 
  • If so, please visit adidas AG Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected] to discuss your rights.
  • If you wish to serve as lead plaintiff, you must move the Court no later than June 27, 2023.
  • A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
  • The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414.

ADIDAS AG (OTC PINK: ADDDF, ADDYY) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against adidas AG (OTC PINK: ADDDF, ADDYY)

Retrieved on: 
Monday, May 15, 2023

NEW YORK, May 15, 2023 /PRNewswire/ -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of adidas AG ("adidas", "Adidas" or the "Company") (OTC PINK: ADDDF, ADDYY) between May 3, 2018 and February 21, 2023, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the District of Oregon and alleges violations of the Securities Exchange Act of 1934.

Key Points: 
  • If so, please visit adidas AG Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected] to discuss your rights.
  • In November 2013, adidas announced the beginning of a partnership with Kanye West, whereby West would endorse adidas shoes (the "Partnership").
  • Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period.
  • The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414.

ADIDAS AG (OTC PINK: ADDDF, ADDYY) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against adidas AG (OTC PINK: ADDDF, ADDYY)

Retrieved on: 
Tuesday, May 2, 2023

NEW YORK, May 2, 2023 /PRNewswire/ -- Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of adidas AG ("adidas", "Adidas" or the "Company") (OTC PINK: ADDDF, ADDYY) between May 3, 2018 and February 21, 2023, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the District of Oregon and alleges violations of the Securities Exchange Act of 1934.

Key Points: 
  • If so, please visit adidas AG Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or [email protected] to discuss your rights.
  • NEW YORK, May 2, 2023 /PRNewswire/ -- Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of adidas AG ("adidas", "Adidas" or the "Company") (OTC PINK: ADDDF, ADDYY) between May 3, 2018 and February 21, 2023, inclusive (the "Class Period").
  • In November 2013, adidas announced the beginning of a partnership with Kanye West, whereby West would endorse adidas shoes (the "Partnership").
  • The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414.