Bond

Assured Guaranty Wraps Third Guaranteed Solar Bond Transaction in Spain

Retrieved on: 
Friday, June 5, 2020
Professional services, Insurance, Finance, Bond, Bond insurance

Assured Guaranty (Europe) SA (AGE SA)*, an indirect subsidiary of Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty), announced that it has guaranteed principal and interest payments on approximately 304 million of bonds issued on 4th June 2020 by FSL Issuer S.A.U.

Key Points: 
  • Assured Guaranty (Europe) SA (AGE SA)*, an indirect subsidiary of Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty), announced that it has guaranteed principal and interest payments on approximately 304 million of bonds issued on 4th June 2020 by FSL Issuer S.A.U.
  • The issuance represents Assured Guarantys third transaction in the renewables industry in Spain in the last twelve months.
  • The portfolio comprises 8 photovoltaic solar plants spread across a number of provinces in Spain.
  • The transaction is guaranteed by Assured Guarantys European insurance company, Assured Guaranty (Europe) SA, which is domiciled in Paris.

AM Best: Bail Bond Market Grows Despite Legislative Headwinds (AM BestTV)

Retrieved on: 
Thursday, June 4, 2020
Banking, Professional services, Insurance, Finance, Bail, Criminal law, Criminal procedure, Service industries, Bond, Insurance, Crime

Therefore, what COVID-19 has done is accelerate the push for criminal and bail bond reforms.

Key Points: 
  • Therefore, what COVID-19 has done is accelerate the push for criminal and bail bond reforms.
  • How these reforms will impact the bail bond insurance industry in the future remains to be seen.
  • The prevailing view is that various legislation being pushed could mean the end of cash bail or bail bond insurance.
  • To access the related market segment report, titled, Bail Bond Market Faces Legislative Headwinds, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=296978 .

Best’s Special Report: Pandemic Creates a Severe Test for Municipal Bond Market

Retrieved on: 
Thursday, June 4, 2020
Insurance, Professional services, Economy, Finance, Money, Annuities, Actuarial science, Local government in the United States, Bond, Municipal bond, Insurance, Life annuity, Bond insurance

The significant decline in revenue of states and cities during the COVID-19 pandemic likely will affect municipal bondholders.

Key Points: 
  • The significant decline in revenue of states and cities during the COVID-19 pandemic likely will affect municipal bondholders.
  • The Bests Special Report, titled, Severe Test for the Municipal Bond Market states that insurers municipal bond exposures are significant.
  • The life/annuity segments municipal bond exposures represent 42% of their capital and surplus, exceeding that of other two segments.
  • Companies rated by AM Best account for nearly 90% of the insurance industrys municipal bond holdings.

KBRA Releases Report Assigning AAA Rating with a Stable Outlook to State of Wisconsin Transportation Revenue Refunding Bonds, 2020 Series 1 (Taxable)

Retrieved on: 
Thursday, June 4, 2020
Banking, Professional services, Insurance, Finance, Finance, Money, Economy, Credit rating agencies, Kroll Bond Rating Agency, Nationally recognized statistical rating organization, Bond credit rating, Bond, Credit rating

On June 3, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AAA with a Stable Outlook to the State of Wisconsin Transportation Revenue Refunding Bonds, 2020 Series 1 (Taxable).

Key Points: 
  • On June 3, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AAA with a Stable Outlook to the State of Wisconsin Transportation Revenue Refunding Bonds, 2020 Series 1 (Taxable).
  • KBRA additionally affirmed the long-term rating of AAA and Stable Outlook to the State of Wisconsin Transportation Revenue Bonds.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).

Notice of extraordinary meeting of holders of convertible bonds

Retrieved on: 
Thursday, June 4, 2020
Corporate finance, Convertible bond, Bond, Convertible security

Consequently, as of such date, the Convertible Bonds shall bear interest on their principal amount, at a fixed rate of 5.25% per annum, payable as defined in the Terms and Conditions.

Key Points: 
  • Consequently, as of such date, the Convertible Bonds shall bear interest on their principal amount, at a fixed rate of 5.25% per annum, payable as defined in the Terms and Conditions.
  • Once the Paying Agent has issued a Block Voting Instruction for a meeting in respect of Convertible Bonds, it shall not release such Convertible Bonds until either (i) the meeting has been concluded or (ii) the Block Voting Instruction has been surrendered to the Paying Agent.
  • Once instructions to participate in the Meeting or to vote by proxy have been given, the Beneficial Owner's interest in the Convertible Bonds will be blocked until the conclusion of the Meeting or the adjourned meeting of Bondholders (as the case may be).
  • This means that it may not be possible to sell such Convertible Bonds until the conclusion of the Meeting or any adjourned meeting of Bondholders (as the case may be).

Service Properties Trust Announces Increase to Tender Cap for its Outstanding 4.25% Senior Notes Due 2021 to $350,000,000

Retrieved on: 
Wednesday, June 3, 2020
Other Construction & Property, Commercial Building & Real Estate, Construction & Property, REIT, Finance, Money, Investment, Security, Stock market, Bond, Real estate investment trust, Wells Fargo, Bank of America, Real estate investing

Service Properties Trust (Nasdaq: SVC) , or SVC, a Maryland real estate investment trust, or REIT, announced today that it has increased the principal amount of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No.

Key Points: 
  • Service Properties Trust (Nasdaq: SVC) , or SVC, a Maryland real estate investment trust, or REIT, announced today that it has increased the principal amount of its outstanding $400,000,000 aggregate principal amount of 4.25% Senior Notes due 2021 (CUSIP No.
  • Except as stated, all other terms and conditions of the Offer, as described in the Offer to Purchase, will remain the same.
  • BofA Securities, and Wells Fargo Securities are acting as dealer managers for the Offer.
  • The tender agent and information agent for the tender offer is Global Bondholder Services Corporation.

Hercules Capital Completes 5-Year Investment Grade Bond Offering of $70.0 Million of 4.31% Notes due June 2025

Retrieved on: 
Wednesday, June 3, 2020
Professional services, Finance, New York Stock Exchange, Credit rating agency, Bond, Ōte, Companies, Economy of the United States, Economy of Greece

Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company) today announced the completed issuance of a private offering in aggregate principal amount of $70.0 million 4.31% Notes due June 2025 (the June Notes).

Key Points: 
  • Hercules Capital, Inc. (NYSE: HTGC) (Hercules or the Company) today announced the completed issuance of a private offering in aggregate principal amount of $70.0 million 4.31% Notes due June 2025 (the June Notes).
  • On February 5, 2020, the Company completed the initial issuance of $50.0 million 4.28% Notes due February 2025, which were initially assigned a BBB+ rating by Kroll Bond Rating Agency.
  • The issuance of $70.0 million of the June Notes occurred on June 3, 2020.
  • In addition, Hercules has two retail bond issuances of 5.25% Notes due 2025 (NYSE: HCXZ) and 6.25% Notes due 2033 (NYSE: HCXY).

DGAP-News: BodySmart Finance Limited: Issue of Bonds

Retrieved on: 
Wednesday, June 3, 2020
73rd United States Congress, U.S. Securities and Exchange Commission, Financial markets, Bond, Security, Finance, Securities Act, Money, Federal Deposit Insurance Corporation, United States federal banking legislation

The capital from the Bonds will be concentrated on acquiring and investing in businesses with strong past earnings that complement the Borrower's service range and geographical strategy.

Key Points: 
  • The capital from the Bonds will be concentrated on acquiring and investing in businesses with strong past earnings that complement the Borrower's service range and geographical strategy.
  • This announcement is not itself an offer for the sale of any Bonds.
  • This announcement does not constitute or form any offer or invitation to sell, or any solicitation of any offer to purchase any Bonds.
  • Any Bonds referred to herein will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act").

KBRA Releases Report Assigning AA+ Rating and Positive Outlook to State of Wisconsin General Obligation Bonds of 2020, Series A

Retrieved on: 
Wednesday, June 3, 2020
Professional services, Insurance, Finance, Finance, Money, Economy, Credit rating agencies, Kroll Bond Rating Agency, Credit risk, Nationally recognized statistical rating organization, Bond credit rating, Commercial paper, Bond, Credit rating

On June 2, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ and Positive Outlook to the State of Wisconsin General Obligation Bonds of 2020, Series A. KBRA additionally affirmed the long-term rating of AA+ and Positive Outlook on the States outstanding General Obligation Bonds; and affirmed the long-term rating of AA and Positive Outlook on the States outstanding Master Lease Certificates of Participation (COPs).

Key Points: 
  • On June 2, 2020, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA+ and Positive Outlook to the State of Wisconsin General Obligation Bonds of 2020, Series A. KBRA additionally affirmed the long-term rating of AA+ and Positive Outlook on the States outstanding General Obligation Bonds; and affirmed the long-term rating of AA and Positive Outlook on the States outstanding Master Lease Certificates of Participation (COPs).
  • Lastly, KBRA affirmed the short-term rating of K1+ on the States GO Commercial Paper (CP) Program and GO Expendable Municipal Commercial Paper (EMCP) Program.
  • KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA).

Sustainalytics Launches Transition Bond Second-Party Opinion Service

Retrieved on: 
Wednesday, June 3, 2020
Economy, Environmentalism, Finance, Ethical banking, Ethical investment, Governance, Money, Market data, Sustainalytics, Bond

TORONTO, June 3, 2020 /PRNewswire/ -- Sustainalytics , a leading global provider of ESG research, ratings and data, today announced it is launching a Transition BondSecond-Party Opinion Service that provides independent opinions on transition-focused bond frameworks.

Key Points: 
  • TORONTO, June 3, 2020 /PRNewswire/ -- Sustainalytics , a leading global provider of ESG research, ratings and data, today announced it is launching a Transition BondSecond-Party Opinion Service that provides independent opinions on transition-focused bond frameworks.
  • Leveraging Sustainalytics' Transition Bond Second-Party Opinion Service, corporations in high-emitting industries will now be able to signal to investors the credibility of their transition strategy and potentially be able to access capital from the sustainable finance market.
  • Sustainalytics' framework assesses a transition bond along two dimensions, one on issuance-level considerations and the other on issuer-level considerations.
  • To learn more about Sustainalytics' Transition Bond Second-Party Opinion Service, please visit here .