Banking

KBRA Assigns Preliminary Ratings to Loanpal Solar Loan 2020-2 Ltd. and Loanpal Solar Loan 2020-2 LLC

Utilities, Construction & Property, Finance, Alternative energy, Energy, Building Systems, Banking, Professional services, Finance, Money, Economy, United States housing bubble, Structured finance, Kroll Bond Rating Agency, Financial law, Loans, Securitization, Asset-backed security, Credit rating agency, Mortgage loan
Friday, July 10, 2020 - 11:58pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Loanpal Solar Loan 2020-2 Ltd. and Loanpal Solar Loan 2020-2 LLC (LPSLT 2020-2-GF), an asset-backed securitization collateralized by a pool of residential solar loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Loanpal Solar Loan 2020-2 Ltd. and Loanpal Solar Loan 2020-2 LLC (LPSLT 2020-2-GF), an asset-backed securitization collateralized by a pool of residential solar loans.
  • The review did not result in Watch Placements on any existing KBRA transaction ratings.
  • Loanpal, LLC (Loanpal or the Company) was incorporated in California in 2003 to provide residential mortgage loans.
  • KBRA also conducted an operational assessment of Loanpal, as well as a review of the transactions legal structure and transaction documents.

UBS Updates Exchange Rate Fixing Time for ETRACS Alerian Midstream Energy Index ETN due June 21, 2050

Banking, Professional services, Finance, Alerian, Companies, Finance, UBS, Financial services, Trademark, Unregistered trademark
Friday, July 10, 2020 - 10:35pm

On June 30, 2020, Alerian announced an update to the methodology guide for the Alerian Midstream Energy Index (the Index).

Key Points: 
  • On June 30, 2020, Alerian announced an update to the methodology guide for the Alerian Midstream Energy Index (the Index).
  • This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates ("UBS").
  • Alerian Midstream Energy Index and AMNA are trademarks of Alerian and their use is granted under a license from Alerian.
  • The key symbol, UBS and ETRACS are among the registered and unregistered trademarks of UBS.

First BanCorp to Announce 2Q 2020 Results on July 28, 2020

Banking, Professional services, Finance, First Bancorp, Spanish Empire, First Bank, FBP, FirstBank, New York Stock Exchange, Puerto Rico, Americas, Caribbean
Friday, July 10, 2020 - 10:03pm

First BanCorp (the Corporation) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the second quarter ended June 30, 2020, before the market opens on Tuesday, July 28, 2020.

Key Points: 
  • First BanCorp (the Corporation) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the second quarter ended June 30, 2020, before the market opens on Tuesday, July 28, 2020.
  • First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Tuesday, July 28, 2020.
  • The call and webcast will be broadcast live over the Internet and can be accessed through the investor relations section of the Corporations website: www.1firstbank.com .
  • Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software.

BankUnited, Inc. to Announce Second Quarter Results

Banking, Professional services, BankUnited, Carlyle Group, Coral Gables, Florida, Conference call, Rajinder, Companies, Financial markets, Economy
Friday, July 10, 2020 - 9:30pm

A conference call to discuss quarterly results will be held at 9:00 a.m.

Key Points: 
  • A conference call to discuss quarterly results will be held at 9:00 a.m.
  • ET that day with Chairman, President and Chief Executive Officer, Rajinder P. Singh and Chief Financial Officer, Leslie N. Lunak.
  • The earnings release will be available on the Investor Relations page under About Us on www.bankunited.com prior to the call.
  • Due to recent demand for conference call services, participants are encouraged to listen to the call via a live Internet webcast at www.bankunited.com .

DWS Municipal Income Trust and DWS Strategic Municipal Income Trust Announce Annual Meeting of Shareholders

Banking, Professional services, Finance, Common law, Equity, Inheritance, Trust law, Income trust, Law, Economy, Organizations
Friday, July 10, 2020 - 10:00pm

DWS Municipal Income Trust (NYSE: KTF) and DWS Strategic Municipal Income Trust (NYSE: KSM) (each, a Fund, and, collectively, the Funds) announced that the Annual Meeting of Shareholders for each Fund will be held on September 25, 2020 at the offices of DWS Investment Management Americas, Inc., 875 Third Avenue, New York, NY 10022.

Key Points: 
  • DWS Municipal Income Trust (NYSE: KTF) and DWS Strategic Municipal Income Trust (NYSE: KSM) (each, a Fund, and, collectively, the Funds) announced that the Annual Meeting of Shareholders for each Fund will be held on September 25, 2020 at the offices of DWS Investment Management Americas, Inc., 875 Third Avenue, New York, NY 10022.
  • If this step is taken, the Funds will announce the decision to do so in advance, together with details on how to participate.
  • If the Funds decide to hold the Annual Meeting solely by means of remote communication, the Funds may also change the date and time of the Annual Meeting and will announce any changes to the date and time of the Annual Meeting in advance.
  • DWS Municipal Income Trust.

Therapeutics Acquisition Corp., Sponsored by RA Capital Management, L.P., Announces Closing of $135.7 Million Initial Public Offering, Including the Full Exercise of the Underwriter’s Option To Purchase Additional Shares

Professional services, Health, Insurance, Finance, General Health, Banking, Financial markets, Finance, Money, Encodings, Stock market, Ticker symbol, Special-purpose acquisition company
Friday, July 10, 2020 - 9:15pm

The Company, sponsored by RA Capital Management, L.P., is led by Chairman and CEO Peter Kolchinsky PhD and CFO Matthew Hammond PhD.

Key Points: 
  • The Company, sponsored by RA Capital Management, L.P., is led by Chairman and CEO Peter Kolchinsky PhD and CFO Matthew Hammond PhD.
  • The Company is a blank check company formed for the purpose of effecting a business combination with one or more businesses in the healthcare industry.
  • The Companys shares of Class A common stock began trading on The Nasdaq Capital Market under the ticker symbol TXAC on July 8, 2020.
  • This press release contains statements that constitute forward-looking statements, including with respect to the initial public offering and the anticipated use of the net proceeds.

Ares Dynamic Credit Allocation Fund Declares a Monthly Distribution of $0.0975 Per Share

Banking, Professional services, Finance, Fictional characters, Fiction, Elements of fiction, Ares Management, Ares
Friday, July 10, 2020 - 9:30pm

Ares Dynamic Credit Allocation Fund, Inc. (the Fund) (NYSE: ARDC) announced the declaration of its distribution for the month of July 2020 of $0.0975 per common share, payable as noted below.

Key Points: 
  • Ares Dynamic Credit Allocation Fund, Inc. (the Fund) (NYSE: ARDC) announced the declaration of its distribution for the month of July 2020 of $0.0975 per common share, payable as noted below.
  • About Ares Dynamic Credit Allocation Fund, Inc.
    Ares Dynamic Credit Allocation Fund, Inc. (ARDC) is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation.
  • Ares Dynamic Credit Allocation Fund undertakes no duty to update any forward-looking statements made herein.
  • Ares Dynamic Credit Allocation Fund is a closed-end fund, which does not engage in a continuous offering of its shares.

Deutsche Bank Appointed as Depositary Bank for the Sponsored American Depositary Receipt Program of BlueCity Holdings Limited

Banking, Professional services, Finance, Finance, Companies, Financial services, Primary dealers, Deutsche Bank, UBS, ING Group
Friday, July 10, 2020 - 8:53pm

Deutsche Bank is Germanys leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

Key Points: 
  • Deutsche Bank is Germanys leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.
  • This notice has been approved and/or communicated by Deutsche Bank AG New York.
  • The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation.
  • No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank.

Frost Bank and FHLB Dallas Award $63K in Grants to Three Texas Nonprofits

Banking, Professional services, Other Philanthropy, Philanthropy, Federal Home Loan Banks, Mortgage industry of the United States, Dallas, Cities in the United States
Friday, July 10, 2020 - 8:49pm

Frost Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $63,000 in Partnership Grant Program (PGP) funds to Harmony Community Development Corp., Notre Dame Place and Texas Community Capital (TCC).

Key Points: 
  • Frost Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $63,000 in Partnership Grant Program (PGP) funds to Harmony Community Development Corp., Notre Dame Place and Texas Community Capital (TCC).
  • Notre Dame Place could not be happier to partner with Frost Bank and FHLB Dallas.
  • FHLB Dallas could not be more excited to join Frost Bank in supporting nonprofits that are making a real difference in the communities, said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.
  • To learn more about the 2020 PGP grants and other FHLB Dallas community investment programs, please visit fhlb.com/pgp .

Fidelity Bank, Resource Bank and FHLB Dallas Award $30K Grant to Habitat

Other Philanthropy, Construction & Property, Finance, Banking, Professional services, Philanthropy, Fund Raising, Residential Building & Real Estate, Federal Home Loan Banks, Mortgage industry of the United States, Habitat for Humanity, Dallas, Fidelity Bank, Fundraising, Economy, Social economy, Housing
Friday, July 10, 2020 - 8:46pm

A $30,000 Partnership Grant Program (PGP) award from Resource Bank, Fidelity Bank and Federal Home Loan Bank of Dallas (FHLB Dallas) will assist East St. Tammany Habitat for Humanity with hiring staff and fundraising activities.

Key Points: 
  • A $30,000 Partnership Grant Program (PGP) award from Resource Bank, Fidelity Bank and Federal Home Loan Bank of Dallas (FHLB Dallas) will assist East St. Tammany Habitat for Humanity with hiring staff and fundraising activities.
  • Resource Bank supports many local charities and foundations, particularly those that aide in helping with basic humanitarian causes, she said.
  • Fidelity Bank Chief Marketing Officer Tammy OShea said Habitat is making a real difference in the community.
  • In both cases, the total grant to the CBO would be the sum of the member contribution(s) plus the FHLB Dallas match.