Principal Amount – Flight 93 http://flight93.org/ Tue, 11 Jan 2022 18:42:36 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://flight93.org/wp-content/uploads/2021/07/icon-5-150x150.png Principal Amount – Flight 93 http://flight93.org/ 32 32 AboitizPower to issue bonds up to 10 billion pesos https://flight93.org/aboitizpower-to-issue-bonds-up-to-10-billion-pesos/ Tue, 11 Jan 2022 16:00:00 +0000 https://flight93.org/aboitizpower-to-issue-bonds-up-to-10-billion-pesos/ Danessa Rivera – The Filipino Star January 12, 2022 | 00h00 MANILA, Philippines – Aboitiz Power Corp. issues up to P10 billion in fixed-rate retail bonds in the first quarter, in part to finance the expansion of its Cleanergy portfolio. Yesterday, in a communication to the Philippine Stock Exchange, AboitizPower said it has filed an […]]]>
Danessa Rivera – The Filipino Star

January 12, 2022 | 00h00

MANILA, Philippines – Aboitiz Power Corp. issues up to P10 billion in fixed-rate retail bonds in the first quarter, in part to finance the expansion of its Cleanergy portfolio.

Yesterday, in a communication to the Philippine Stock Exchange, AboitizPower said it has filed an application with the Securities and Exchange Commission (SEC) to issue the third tranche of its 30 billion peso fixed-rate retail bonds registered on March 1, 2021 under the plateau recording. SEC program.

“The third tranche bonds, with a total principal amount of up to 10 billion pesos, including oversubscription, are expected to be issued in one or two series during the first quarter of 2022,” AboitizPower said.

AboitizPower said it would use the proceeds to refinance bonds previously issued by the company, finance the construction of future renewable energy projects and other corporate goals.

He brought in BDO Capital & Investment Corp., China Bank Capital Corp. and First Metro Securities Brokerage Corp. (FMIC) as co-directors of the program.

Meanwhile, BDO Capital, ChinaBank Capital, FMIC and Security Bank Corp. were appointed Lead Partners and Associate Bookkeepers.

AboitizPower intends to list the bonds with the Philippine Dealing and Exchange Corp. (PDEx).

The first 8 billion peso tranche of the 30 billion peso debt securities registration was issued in March of last year.

Last month, the company raised 12 billion pesos from the issuance of the second tranche of its 30 billion peso debt program, which will also be used for refinancing, the company’s general objectives. and / or future renewable projects.

After meeting its goal of 4,000 megawatts (MW) of attributable capacity in 2020, the company aims to double its net attributable salable capacity to 9,200 megawatts (MW) by 2030.

Of the new target, 4,600 MW should come from various renewable energy (RE) developments to balance its renewable and thermal capacities as part of its greener transition.

AboitizPower plans to spend 190 billion pesos over the next 10 years to build 3,700 MW as part of its Cleanergy portfolio.

By October, the company had already identified 3,500 MW of new renewable energy projects across the country, all at different stages of development.

Its renewable energy portfolio currently stands at 940 MW.

To date, the Aboitiz Group and its partners produce 4,471 MW of total net salable capacity of electricity from thermal and renewable energy sources.

]]>
Mohali’s Pancham Society: after 15 years, 448 apartment owners obtain property rights https://flight93.org/mohalis-pancham-society-after-15-years-448-apartment-owners-obtain-property-rights/ Sun, 09 Jan 2022 20:15:23 +0000 https://flight93.org/mohalis-pancham-society-after-15-years-448-apartment-owners-obtain-property-rights/ In a major relief for around 448 Pancham Cooperative Society flat beneficiaries in Sector 68, the Greater Mohali Area Development Authority (GMADA), after 15 years, issued a notice giving them property rights, with the builder eventually clearing the land. waiting for ??15 crores. In accordance with the notification, GMADA will only recover the principal amount […]]]>

In a major relief for around 448 Pancham Cooperative Society flat beneficiaries in Sector 68, the Greater Mohali Area Development Authority (GMADA), after 15 years, issued a notice giving them property rights, with the builder eventually clearing the land. waiting for ??15 crores.

In accordance with the notification, GMADA will only recover the principal amount of ??4.46 crore proportionally from each member, which means that each grantee has to pay approximately ??45,000 to 1.20 lakh depending on the floor of the apartment, because the penal interest accumulated over the years has been completely eliminated.

GMADA will now deal directly with individual members and will not issue any membership dues certificate after paying the outstanding amount. The Pancham Society’s Resident Welfare Association will be the interface between members and GMADA.

Previously, the owners were not able to sell the apartments because they did not have property rights. GMADA had awarded the land to the company in 2000 and ownership of the apartments was given in January 2006.

When taking possession of the apartments, members were asked to pay an additional amount of ??1.15 lakh for HIG apartments and ??72,000 for HIG super. The beneficiaries paid the amount to the builder, who was to pay it back to GMADA, but the latter did not. As a result, property rights were suspended. According to records, Pancham Society had to pay ??4.49 crore as land rights to GMADA in 2005. With the addition of interest, the figure rose to ??7.79 crore in October 2006 and is now estimated to be around ??15 crores.

In 2012, GMADA issued a public notice regarding the repossession of land from the Pancham Society, and in the same year, 225 members filed a lawsuit in the High Court of Punjab and Haryana against GMADA, the society’s registrar. and housing secretary. In 2019, the court ordered the Registrar that recoveries be made from all those convicted in various investigations.

Vineet Malik, regional councilor, said the property rights credit goes to MP Balbir Singh Sidhu. “This is a welcome step as we have been fighting for ownership for over a decade. However, for now, we have no official information, ”he said.

One of the beneficiaries, Rajesh Moza, said the members waged a long battle against the builders and members of the management committee of the company, who embezzled millions of rupees according to the findings of the prepared special audit report. by government auditors. These findings were corroborated by the investigative committee set up by the Registrar Cooperative Society, he said.



Source link

]]>
ZipRecruiter Announces $ 550 Million Increase and Pricing of Senior Notes Due 2030 | Nation / World https://flight93.org/ziprecruiter-announces-550-million-increase-and-pricing-of-senior-notes-due-2030-nation-world/ Fri, 07 Jan 2022 23:32:29 +0000 https://flight93.org/ziprecruiter-announces-550-million-increase-and-pricing-of-senior-notes-due-2030-nation-world/ SANTA MONICA, Calif .– (BUSINESS WIRE) – January 7, 2022– ZipRecruiter® (NYSE: ZIP) today announced that it is pricing a total principal amount of $ 550 million of its 5,000% senior bonds due 2030 (the “Bonds”) under its previously advertised private offer (the “Offer”). The total principal amount of the offering has been increased from […]]]>

SANTA MONICA, Calif .– (BUSINESS WIRE) – January 7, 2022–

ZipRecruiter® (NYSE: ZIP) today announced that it is pricing a total principal amount of $ 550 million of its 5,000% senior bonds due 2030 (the “Bonds”) under its previously advertised private offer (the “Offer”). The total principal amount of the offering has been increased from the previously announced offering size of $ 500 million due to market interest. The offer is expected to close on January 12, 2022, subject to the satisfaction of customary closing conditions.

Interest on the Notes will be payable in cash semi-annually in arrears, commencing July 15, 2022, at the rate of 5,000% per annum. The Notes will mature on January 15, 2030, unless redeemed or redeemed earlier. The Notes will be the general unsecured obligations of ZipRecruiter.

ZipRecruiter intends to use the net proceeds of the Offering for general corporate purposes, which may include capital expenditures, investments and working capital.

The Notes have only been offered and sold by way of a private offer memorandum to persons reasonably suspected of being Qualified Institutional Purchasers in accordance with Rule 144A promulgated under the Securities Act of 1933, as amended. (the “Securities Act”), and outside the United States to non-US persons in accordance with Regulation S of the Securities Act. The Notes have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States. , except by virtue of an applicable exemption from these registration requirements. .

This announcement is not an offer to sell or a solicitation of an offer to buy the Tickets and does not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is illegal.

About ZipRecruiter

ZipRecruiter® is a leading online job marketplace that actively connects people to their next big opportunity. ZipRecruiter’s powerful matching technology improves the job search experience for job seekers and helps businesses of all sizes find and hire the right candidates quickly. ZipRecruiter has been the # 1 job search app on iOS and Android for the past four years and is ranked # 1 in the job market by G2.

Caution regarding forward-looking statements

This press release contains “forward-looking statements” including, but not limited to, statements relating to the completion of the Offer and the intended use of the proceeds from the Offer. Statements containing words such as “might”, “believe”, “expect”, “intend”, “want” or similar expressions constitute forward-looking statements. These forward-looking statements are made in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, whether ZipRecruiter completes the Offer, market conditions affecting the Offer, the intended use of the net proceeds of the Offer, which could change due to market conditions or for other reasons, and the impact of the conditions economic, industrial or general policy in the United States or internationally, including the impacts of the COVID-19 pandemic. The above list of risks and uncertainties is illustrative, but not exhaustive. For more information on other potential factors that could affect ZipRecruiter’s business and financial results, please see “Risk Factors” described in ZipRecruiter’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission (the “SEC”) and in other documents filed by ZipRecruiter with the SEC. Except as required by law, ZipRecruiter assumes no obligation and does not intend to update these forward-looking statements after the date of this release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220107005540/en/

CONTACT: Investors:

Alex wellins

The Blueshirt group, for ZipRecruiter

ir@ziprecruiter.com Corporate communications:

Shauna Wynne

Public Relations Manager, ZipRecruiter

press@ziprecruiter.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES HUMAN RESOURCES INTERNET FINANCE CONSULTING SMALL BUSINESS PROFESSIONAL SERVICES TECHNOLOGY

SOURCE: ZipRecruiter, Inc.

Copyright Business Wire 2022.

PUB: 07/01/2022 18:30 / DISC: 07/01/2022 18:32

http://www.businesswire.com/news/home/20220107005540/en

Copyright Business Wire 2022.


Source link

]]>
HDFC Bank revises interest rates on non-withdrawable fixed deposits https://flight93.org/hdfc-bank-revises-interest-rates-on-non-withdrawable-fixed-deposits/ Thu, 06 Jan 2022 06:21:59 +0000 https://flight93.org/hdfc-bank-revises-interest-rates-on-non-withdrawable-fixed-deposits/ Investment oi-Vipul Das | Posted: Thursday January 6th, 2022 11:51 AM [IST] Private sector lender HDFC Bank revised its interest rates on non-withdrawable domestic term deposits, NREs and NROs. According to the bank, the new rates are in effect from January 5, 2022. On the other hand, from January 1, 2021, the bank also changed […]]]>

Investment

oi-Vipul Das

|

Private sector lender HDFC Bank revised its interest rates on non-withdrawable domestic term deposits, NREs and NROs. According to the bank, the new rates are in effect from January 5, 2022. On the other hand, from January 1, 2021, the bank also changed its interest rates on domestic withdrawable term deposits, NRE and NRO of more than or equal to Rs. 5 Cr. The new bank interest rates on these deposits are discussed here.

HDFC Bank non-withdrawable fixed deposit interest rate

HDFC Bank is currently granting the following interest rates on domestic non-withdrawable term deposits, NREs and NROs greater than or equal to Rs. 5 Cr maturing in 91 days to 10 years, effective January 5, 2022. Deposits Fixed do not allow early withdrawal, which means that the depositor cannot terminate the account before the expiration of the deposit period.

In addition, in extraordinary circumstances, such as in the event of direction from any judicial / statutory and / or regulatory body or claims settlement situations, the bank may authorize premature withdrawals. The bank will not pay interest on the principal amount of these deposits if they are withdrawn prematurely under the above unusual circumstances.

Any interest credited or paid up to the early deposit closing date will be claimed by the bank. Interest will be paid to the applicant or nominee if these FDs are withdrawn prematurely due to a death claim on behalf of a primary account holder. The contractual rate or the base rate applicable during the entire term of the deposit with the bank, whichever is less, will apply to such withdrawals.

Period 5 Cr to 5.25 Cr 5.25 Cr 5.50 Cr 5.50 Cr to 24.75 Cr 24.75 Cr to 25 Cr Rs 25 Cr to 50 Cr Rs 50 Cr to 75 Cr Rs 75 Cr to 100 Cr 100 Cr to 150 Cr 150 Cr to 200 Cr More than Rs 200 Cr
91 days 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%
6 months 1 day 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
9 months 1 day to 4.15% 4.15% 4.15% 4.15% 4.15% 4.15% 4.15% 4.15% 4.15% 4.15%
1 year to 2 years 4.50% 4.50% 4.50% 4.50% 4.50% 4.50% 4.50% 4.50% 4.50% 4.50%
2 years 1 day to 3 years 4.60% 4.60% 4.60% 4.60% 4.60% 4.60% 4.60% 4.60% 4.60% 4.60%
3 years 1 day to 5 years 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70%
5 years 1 day to 10 years 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70% 4.70%
Source: Bank website. Wed 5 January 2022

Interest rate on fixed deposits withdrawable from HDFC bank

As of January 1, 2022, HDFC Bank is offering the following interest rates on national term deposits, NRE and NRO withdrawable greater than or equal to Rs. 5 Cr refining in 91 days to 10 years. Customers should be aware that if the NRE deposit is withdrawn before the first year, no interest will be issued as NRE deposits have a minimum term of one year. A penalty of 1% will be deducted from the contract rate or the applicable base rate during the term of the deposit held with the bank, whichever is lower if a fixed deposit is closed prematurely.

Period 5 Cr to 5.25 Cr 5.25 Cr 5.50 Cr 5.50 Cr to 24.75 Cr 24.75 Cr to 25 Cr Rs 25 Cr to 50 Cr Rs 50 Cr to 75 Cr Rs 75 Cr to 100 Cr 100 Cr to 150 Cr 150 Cr to 200 Cr More than Rs 200 Cr
7 – 14 days 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%
15-29 days 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%
30-45 days 2.75% 2.50% 2.75% 2.50% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
46-60 days 2.75% 2.50% 2.75% 2.50% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
61-90 days 3.00% 2.75% 3.00% 2.75% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%
91 days 3.25% 2.75% 3.25% 2.75% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25%
6 months 1 day 3.50% 3.00% 3.50% 3.00% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50%
9 months 1 day to 3.65% 3.00% 3.65% 3.00% 3.65% 3.65% 3.65% 3.65% 3.65% 3.65%
1 year to 2 years 4.00% 3.20% 4.00% 3.20% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
2 years 1 day to 3 years 4.50% 3.20% 4.50% 3.20% 4.50% 4.50% 4.50% 4.50% 4.50% 4.50%
3 years 1 day to 5 years 4.60% 3.20% 4.60% 3.20% 4.60% 4.60% 4.60% 4.60% 4.60% 4.60%
5 years 1 day to 10 years 4.60% 3.20% 4.60% 3.20% 4.60% 4.60% 4.60% 4.60% 4.60% 4.60%
Source: Bank website. Wed, January 1, 2022

Article first published: Thursday, January 6, 2022, 11:51 a.m. [IST]


Source link

]]>
… the name is Bond, Corporate Bond https://flight93.org/the-name-is-bond-corporate-bond/ Tue, 04 Jan 2022 06:31:00 +0000 https://flight93.org/the-name-is-bond-corporate-bond/ Protecting our savings from any kind of threat comes naturally to most of us. So when you decide to invest, you need to know all of your options in order to invest in the path that is best for you. In this article, we’ll explain why you should consider investing in debt securities. So what […]]]>

Protecting our savings from any kind of threat comes naturally to most of us. So when you decide to invest, you need to know all of your options in order to invest in the path that is best for you. In this article, we’ll explain why you should consider investing in debt securities.

So what are bonds?

Simply put, a bond is a debt instrument issued by companies to raise funds. When you buy a bond, you lend a certain amount to the company for a specified period in return for interest paid by the company. During the entire term of this obligation, you earn interest and at maturity, the company repays the capital.

Why invest in bonds?

Diversify your portfolio investing in bonds provides a balance between risk and return.

When you invest in bonds and decide to wait until maturity, your wealth neither appreciates nor depreciates. It is one of the best ways to preserve your heritage. However, you don’t have to wait until maturity, you can sell these bonds in the secondary market if you need liquidity. Unlike some deposits, bonds do not have a lock-in period. Note that this could have an impact on your invested value depending on the prices in the secondary market.

If you are looking for an investment option that saves you tax, you can invest in non-taxable bonds. Interest on these bonds is not taxable. Apart from that, there are certain tax saving obligations which come with a minimum lock-up period of 5 years.

When we talk about safe investments, bonds are definitely on the list. If you want to reduce your risk some bonds are backed by a security or collateral, if you invest in these bonds the chances of losing your money (in the rare event that the issuer defaults) are much lower.

Bond investments provide predictable cash flow. You know when and at what rate you are going to receive interest payments. It can help you plan for future spending and better manage your finances.

The interest rate on bonds is generally higher than the rate of inflation. Therefore, income from bond investments strengthens your purchasing power and serves as a hedge against inflation.

Now that you know the benefits of investing in bonds, let us explain why you should invest with SMEST capital:

SMEST is registered with SEBI, which means that compliance with all regulatory requirements issued by SEBI for investor protection is ensured.

Every detail you enter on their website is encrypted, which means all of your personal data and transactions are secure.

The primary concern when trading in secondary markets is to be offered a fair price for a particular bond. Smest offers the price history of each ISIN, which will make it easy for you to determine the fair price range for that ISIN.

If you are someone who manages the portfolio of family members then SMEST is the easiest portal for you. A single sign-on feature at SMEST allows you to manage your wallet and that of your family through one account.

You need to know who you are lending your money to. The transmitter analysis reports on SMEST give you all the details related to the performance of this transmitter, which will make it easier for you to judge the quality of the transmitter. SMEST provides you with all the information relating to each ISIN in one place. This includes the coupon rate, maturity date, collateral details, etc.

The Ask Smest forum is a page where you can find FAQs related to bond investments. If your question is not on the page, you can post it and expect a response in no time! This page also contains a bond glossary that will help you understand difficult terms used in the bond market.

SMEST also offers loyalty rewards to its customers. You earn loyalty points by buying, selling or sponsoring.

As a trader, you need to know everything about what is happening in the market on a daily basis. And no, you don’t have to read long articles to keep up to date. Smest’s Market Bulletin displays all of the important headlines of the day that are relevant to the debt market.

SMEST; a rare bootstrap startup whose mission is to digitize the functions of the debt market and educate retail investors to encourage participation. Their team works tirelessly to improve the customer experience by committing to serve them even after hours of operation through Ask-Smest. Their aim is to increase participation in the debt market, especially of the oblivious population of retail investors.

Punjabee hard, Founder and CEO of Smest, “The advancement of the fixed income market is in its infancy and I believe we are at a point where, in the next few years, the debt market will experience a similar transformation. to that of the stock markets. in the 1990s. SMEST demonstrates our effort to facilitate transparency and ease of trading in fixed income securities. “

Disclaimer: Content produced by SMEST Capital


Source link

]]>
Principal cried in second school tragedy https://flight93.org/principal-cried-in-second-school-tragedy/ Sun, 02 Jan 2022 09:00:00 +0000 https://flight93.org/principal-cried-in-second-school-tragedy/ A Winnipeg school community mourns its principal just days after losing a beloved teacher. Paulette Huggins spent part of the last week of December planning how best to support her staff at JB Mitchell School following the death of Megan Wolff, a kindergarten educator. “She was… the kind of person who would give you the […]]]>



A Winnipeg school community mourns its principal just days after losing a beloved teacher.

Paulette Huggins spent part of the last week of December planning how best to support her staff at JB Mitchell School following the death of Megan Wolff, a kindergarten educator.

“She was… the kind of person who would give you the shirt off her back,” Nicole Kurtz, vice-principal of JB Mitchell School, said of Huggins. “She would be there any time of the day, evening or weekend.”

Wolff died on Christmas morning after testing positive for COVID-19, despite having been triple vaccinated. Paulette did not have the virus when she died on Dec. 29 and the two deaths are unrelated, according to the family.

The double tragedy has been “overwhelming” for those linked to elementary school, Kurtz said.

“The only thing that’s really, really obvious right off the bat when you walk into this school is you see how strong and united a group is… that everyone is,” Kurtz said.

If you’ve visited JB Mitchell School at any time, Paulette was probably in the building, according to her relatives.

Maybe she was overseeing an after-hours “passion project” to spruce up the place, like the two locker murals she commissioned. She may be at a meeting to improve French immersion programs at the Winnipeg School Division, the organization she had worked for since January 2000.

Even at home, she could read an article on instructional leadership or catch up on emails she had deferred to maximize in-person connection during the day.

“It was her life and her passion,” said Gary Huggins, Paulette’s husband of nearly 35 years. “She was always thinking of the children and the community.”

Teaching – and leading by example – has infiltrated his family life, he said.

“We are in mourning right now, and we are growing as we cry, because the question we ask ourselves every day is, ‘What would mum have wanted? “”, did he declare.

Paulette didn’t let the opinions of others influence her decisions, according to Linda Berry, who was vice-principal of JB Mitchell School for five years before Kurtz. Berry has become Paulette’s best friend – a perk Berry said she didn’t expect from work.

Berry said she appreciated Paulette’s trust and called the director’s delegation and empowerment skills a “superpower.”

Paulette established a French immersion program at École Victoria-Albert, a facility in downtown Winnipeg. The province’s largest school division has relied on her for advice and progress in French immersion, according to Berry.

“What a loss for the Winnipeg School Division and for the community,” said Berry.

The division superintendent’s department issued a letter dated December 30 regarding Paulette’s death.

“Paulette will be sadly missed by her colleagues across the school division and by her family at JB Mitchell School,” the letter read.

Paulette’s career, which began as a teacher and evolved over decades to become a principal, helped spark the passion of her daughter Gabrielle. Gabrielle won a provincial award for excellence in education for her teaching.

“I’m proud of the work that (Paulette) did, I really am,” Gabrielle said.

Although she is busy with her job, Paulette has taken the time to be a caring mother and a “fantastic best friend,” said Marissa Huggins, the youngest of Paulette’s three children.

Teachers at JB Mitchell School are expected to return to school on January 6, four days earlier than the students. There will be clinical supports and other resources on site, according to Deputy Director Kurtz.

“It is so sad that we are coming back, we are missing two special and special people,” she said. “But, we’re still a united group and family, and we’re going to lean on and get out of each other.”

About 40 people work at JB Mitchell School, and there are just under 380 students.

gabrielle.piche@winnipegfreepress.com

Gabrielle Piché

Gabrielle Piché
Journalist

Gabby is a huge fan of people, writing and learning. She graduated from the Creative Communications program at Red River College in the spring of 2020.


Source link

]]>
CHORUS AVIATION ANNOUNCES THE PARTIAL REDEMPTION OF ITS SENIOR DEBENTURES 6.00% https://flight93.org/chorus-aviation-announces-the-partial-redemption-of-its-senior-debentures-6-00/ Fri, 31 Dec 2021 17:30:00 +0000 https://flight93.org/chorus-aviation-announces-the-partial-redemption-of-its-senior-debentures-6-00/ HALIFAX, NS, December 31, 2021 / CNW / – Chorus Aviation Inc. (“Chorus”) (TSX: CHR) announces today that it has acquired $ 85,000,000 principal amount (the “Redeemed Debentures”) of the 6% Chorus Senior Debentures due December 31, 2024 (the “6.00% Debentures”). Following this redemption, $ 115,000,000 total principal of 6.00% The debentures remain currently outstanding. […]]]>

HALIFAX, NS, December 31, 2021 / CNW / – Chorus Aviation Inc. (“Chorus”) (TSX: CHR) announces today that it has acquired $ 85,000,000 principal amount (the “Redeemed Debentures”) of the 6% Chorus Senior Debentures due December 31, 2024 (the “6.00% Debentures”). Following this redemption, $ 115,000,000 total principal of 6.00% The debentures remain currently outstanding.

The redeemed debentures were redeemed at par (being $ 1,000 for each $ 1,000 principal amount of redeemed debentures), plus accrued and unpaid interest up to the date of redemption, but excluding. The redemption was financed with the net proceeds of the 5.75% senior unsecured debentures due. June 30, 2027 (published by Chorus on September 27, 2021), as well as the available liquidity of Chorus.

The 6.00% Debentures are secured by certain Dash 8-100 and Dash 8-300 and real estate owned by subsidiaries of Chorus (the “Collateral”). The collateral will be released on the earliest of the following dates: (i) Fairfax Financial Holdings Limited, its subsidiaries or affiliates (collectively, “Fairfax”) ceasing to hold all of the issued and outstanding 6.00% Debentures and (ii) the redemption of all of the 6.00% Debentures.

In connection with the issuance of the 6.00% debentures, Chorus issued 24,242,424.242 warrants to Fairfax allowing their holder to acquire, upon exercise of each warrant and subject to certain adjustments, one class A variable voting share or one class B voting share of Chorus at a price of $ 8.25 per share (the “warrants”). Warrants may be exercised until the first of the following two events: (i) the business day immediately preceding the maturity date of the 6.00% Debentures and (ii) the date on which all 6.00% Debentures, 00% have been redeemed.

Forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information is identified by the use of terms and expressions such as “anticipate”, “believe”, “might”, “estimate”, “expect”, “intend”, “might” , “plan”, “predict”, “potential”, “project”, “will”, “would” and similar terms and expressions, including references to hypotheses. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed in forward-looking information. Examples of statements containing forward-looking information in this press release include the early redemption of the 6.00% Debentures. The results shown in the forward-looking information may differ materially from actual results for a number of reasons, including the risk factors described in Chorus’ most recent annual information form and in the Management’s Discussion and Analysis of Operating Results and Financial Condition. . Statements containing forward-looking information in this press release are made as of the date of this press release and Chorus assumes no obligation to publicly update such statements to reflect new information, subsequent events or otherwise, except as required. by applicable securities laws.

About Chorus Aviation Inc.

Chorus is a global provider of integrated regional aviation solutions. Chorus’s vision is to provide regional aviation to the world. Based at Halifax, Nova Scotia, Chorus is comprised of Chorus Aviation Capital, one of the world’s leading regional aircraft lessors, and Jazz Aviation and Voyageur Aviation – companies with a long history of safe operation with excellent customer service. Chorus provides a full range of regional aviation support services that encompass all stages of the aircraft life cycle, including the acquisition and leasing of aircraft; refurbishment, engineering, modification, reassignment and preparation of aircraft; flight contract; maintenance, disassembly and procurement of aircraft parts and components.

The Class A Variable Voting Shares and Class B Voting Shares of Chorus trade on the Toronto Stock Exchange under the symbol “CHR”. 6.00% Chorus Debentures, 5.75% Senior Unsecured Debentures Due December 31, 20246.00% senior unsecured convertible debentures due June 30, 2026, and 5.75% of senior unsecured debentures due June 30, 2027 trade on the Toronto Stock Exchange under the symbols “CHR.DB”, “CHR.DB.A”, “CHR.DB.B” and “CHR.DB.C”, respectively. www.chorusaviation.com

SOURCE Chorus Aviation Inc.

For more information: Chorus media contact: [email protected]; Contact of the choir analyst: [email protected]


Source link

]]>
Prairie Provident announces renewal of its credit facilities https://flight93.org/prairie-provident-announces-renewal-of-its-credit-facilities/ Thu, 30 Dec 2021 01:16:00 +0000 https://flight93.org/prairie-provident-announces-renewal-of-its-credit-facilities/ CALGARY, Alberta, December 29, 2021 (GLOBE NEWSWIRE) – Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce the renewal of its senior secured revolving note facility (the “ renewable facility ”). The renewal extends the maturity date and renewal period by one full year from December 31, 2022 to December 31, […]]]>

CALGARY, Alberta, December 29, 2021 (GLOBE NEWSWIRE) – Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) is pleased to announce the renewal of its senior secured revolving note facility (the “ renewable facility ”). The renewal extends the maturity date and renewal period by one full year from December 31, 2022 to December 31, 2023, and includes additional changes to the terms of the credit facility as well as the senior subordinated notes outstanding. of the Company (“subordinated notes”).

The Amendments Provide Prairie Provident with the Financial Stability to Support the Execution of its 2022 and 2023 Capital Programs, Underpinning the Company’s Goal of Creating Shareholder Value.

The availability of credit under the revolving facility is based on the then applicable borrowing basis, which, in accordance with terms agreed at the end of 2020, will be set at US $ 53.8 million as of December 31, 2021 (equivalent to 71 , 1 million Canadian dollars). The current changes provide for increased certainty of borrowing base during 2022, as there will be no scheduled re-determination of borrowing base until December 31, 2022, at which time the borrowing base will be. reduced to US $ 50.0 million and will subsequently be subject to re-determination based on end-of-year and mid-year reserve assessments during 2023. Although lenders retain their right to demand re-determination at any time, the next scheduled re-determination is spring 2023 based on an assessment of year-end 2022 reserves.

The Company currently has US $ 17.0 million in US dollar denominated advances and US $ 41.1 million in Canadian dollar denominated advances drawn on the revolving facility, for total borrowings under the revolving facility. ci of US $ 47.4 million, or C $ 62.9 million (by converting advances denominated in US dollars at a current exchange rate of US $ 1.00 to C $ 1.28).

The margin on amounts borrowed under the revolving facility will continue to be 650 basis points per annum above the benchmark prime rates, LIBOR or CDOR, as applicable, for 2022, and will increase to 950 basis points per annum. basis per year for 2023.

In connection with the renewal of the revolving facility, the maturity date of the aggregate initial principal amount of US $ 28.5 million of the subordinated bonds issued in October 2017 and November 2018 (as well as the deferred interest paid in kind) has been extended from June 30, 2023. to June 30, 2024. The maturity date of the initial principal of US $ 11.4 million of the subordinated notes issued in December 2020 (as well as the deferred interest paid in kind) remains December 21, 2026 .

The current balance of amounts due under the outstanding subordinated notes, including interest deferred until December 31, 2021, is US $ 48.4 million (equivalent to C $ 61.9 million based on a current exchange rate of US $ 1.00 to CA $ 1.28), of which US $ 35.5 million now expires on June 30, 2024.

The amendments to the subordinated notes also allow the Company to elect to pay in kind all interest owed on them as long as any indebtedness remains unpaid under the revolving facility. The terms of the revolving facility require Prairie Provident to make this election.

ABOUT PRAIRIE PROVIDENT:

Prairie Provident is a Calgary-based company dedicated to the exploration and development of oil and gas properties in Alberta. The Company’s strategy is to optimize cash flow from our existing assets, to develop a core water injection business at Evi (Slave Point Formation) and Michichi (Banff Formation) by providing flows of stable cash flow with low decline, and organically develop a new complementary area to facilitate reserves and production growth. The Princess region in southern Alberta continues to provide short cycle yields through the successful development of the Glauconite and Ellerslie formations.

For more information, please contact:

Prairie Provident Resources Inc.
Tony Berthelet
President and CEO
Phone. : (403) 292-8125
Email: tberthelet@ppr.ca

Mimi Lai
Executive Vice President of Finance and Chief Financial Officer
Phone. : (403) 292-8171
Email: mlai@ppr.ca


Source link

]]>
Fitch Ratings on the liquidity of Chinese real estate developers, debt crisis https://flight93.org/fitch-ratings-on-the-liquidity-of-chinese-real-estate-developers-debt-crisis/ Tue, 28 Dec 2021 04:44:00 +0000 https://flight93.org/fitch-ratings-on-the-liquidity-of-chinese-real-estate-developers-debt-crisis/ Ailing Chinese developer Evergrande is on the verge of failure. Here’s why it’s important Residential sales fell along with home buyer confidence. Home sales by value fell 16.31% from a year ago in November, a fifth month of decline. New home prices fell 0.3% from the previous month, the biggest drop since February 2015, according […]]]>

Ailing Chinese developer Evergrande is on the verge of failure. Here’s why it’s important

Residential sales fell along with home buyer confidence. Home sales by value fell 16.31% from a year ago in November, a fifth month of decline. New home prices fell 0.3% from the previous month, the biggest drop since February 2015, according to Reuters.

Fitch said in his report that in a severe scenario where residential home sales fall by 30%, 12 or about a third of his 40 assessed developers could have negative cash flow. In Fitch’s base scenario – a less severe scenario – a 15% drop in home sales could result in a cash shortfall of around 13% of its rated developers.

Chinese developers face $ 19.8 billion in U.S. dollar-denominated offshore bonds in the first quarter and $ 18.5 billion in the second, Nomura analysts estimated in a recent note. That first-quarter amount is almost double the $ 10.2 billion in fourth-quarter maturities, analysts said.

Next year, real estate developers are expected to face an even higher number of bond maturities.

Developers rated “B” or lower, in particular, will face increasing pressure to repay offshore debt, with offshore bonds maturing or putable in 2022 having higher principal amounts due than in 2021, Fitch said. . Convertible bonds allow their holders to force the issuer to redeem the bond before maturity.

A “B” rating means that there is a significant risk of default, but a limited margin of safety remains.

Hidden debt increases pressure on liquidity

As the debt crisis unfolded, doubts also arose over the lack of transparency on the real extent of developers’ responsibilities.

“Some struggling credits in recent months have also cast doubt on the transparency of corporate disclosures and contingent liabilities,” Fitch said.

One example was Fantasia, which had an undisclosed private obligation in the company’s financial reports that Fitch highlighted in October.

Learn more about China from CNBC Pro

“The emergence of ‘hidden private debt’ is exacerbating liquidity pressures, especially for lower-rated developers with large bond maturities ahead,” Fitch said in the report last week.

Such hidden debt would include undisclosed debts and guarantees for loans from joint ventures, associates and other third parties that allow developers to bypass China’s “three red lines” debt limits, according to Fitch.

This policy limits leverage to a company’s cash flow, assets, and capital levels, and aims to dampen developers after years of growth fueled by excessive leverage.

Developer problems may soon drop

Looking ahead, analysts don’t expect market conditions troubling developers to ease until next year.

Guangzhou Evergrande football stadium under construction in Guangzhou, China’s Guangdong Province, September 17, 2021

STR | AFP | Getty Images

Monica Hsiao, founder and chief investment officer at Triada Capital, said she expects to see a “drop” for Chinese high yield bonds, mostly real estate bonds, in the first half of next year.

“Because the market is really waiting to see if the government’s pain threshold for further policy easing is reached, and a lot of the market thinks it will be in the first quarter,” she said on Friday. at CNBC’s “Street Signs Asia”.

Earlier this month, investor confidence in the real estate sector strengthened as China’s monetary policy moves towards easing. The central bank reduced the reserve requirement ratio, or the amount of liquidity banks must hold as reserves, for the second time this year – freeing up 1.2 trillion yuan ($ 282 billion) to stimulate the economy.

Fitch added that the operating environment for Chinese developers will remain difficult and that a “significant recovery in financing and market access conditions” will only occur in the second half of 2022.

– CNBC’s Evelyn Cheng contributed to this report.


Source link

]]>
Homeowners must understand before renting their home https://flight93.org/homeowners-must-understand-before-renting-their-home/ Sun, 26 Dec 2021 11:29:22 +0000 https://flight93.org/homeowners-must-understand-before-renting-their-home/ Question 1: Hello, I’m wondering what happens if you moved out of your primary place of residence, rented it for several years and paid taxes on that rent, and then go back there. After a while, is your primary place of residence “reconfigured” as if you had never left it, so that you do not […]]]>

Question 1: Hello, I’m wondering what happens if you moved out of your primary place of residence, rented it for several years and paid taxes on that rent, and then go back there.

After a while, is your primary place of residence “reconfigured” as if you had never left it, so that you do not have to pay any capital gains on the product when is it finally sold? Thank you

It is not uncommon to leave your home, rent it out, and come back to it later.

You can choose to continue to consider a home as your primary residence for the purposes of the CGT exemption even if you have ceased to use it as your primary residence. This allows the CGT exemption to continue to apply.

Please note that this exemption does not apply to a period before a house becomes a person’s primary residence (for example, the house is rented out before the person first lives there). A person must first live in the house and then move out.

Six-year exemption if the house is used to generate income

If the accommodation is used for profit (i.e. rented), the CGT exemption may continue to apply for up to six years.

If a person is absent from their primary residence at different times during their period of ownership, the six-year period begins again each time.

This means that you can live in the house and move repeatedly without affecting the primary residence status of the house.

A person who leaves their primary residence and purchases another home can opt for the CGT principal residence exemption to apply to one or the other of the goods but not to both – that is, you can only have one main residence at a time for the purposes of the CGT exemption.

This decision does not need to be made until one of the residences is sold.

By the way, if a person leaves their primary residence and does not use the house for profit, they can continue to choose that property as their primary residence for an unlimited period of time.

Before renting out your main residence, it would be advisable to speak to your tax accountant in order to understand how the above affects your personal situation.

Question 2: Capital gains on SMSF: What tax am I liable for?

If your pension fund is in the accumulation phase and if the assets (shares, property, managed funds, etc.)

Normally, all super fund income is taxed at a maximum of 15 percent, so after applying the discount (5 percentage points), the maximum CGT rate is 10 percent.

This applies to all super funds, including SMSF.

If your super fund is in the retirement phase, no capital gains tax applies.

If you held the same asset apart from super and held it for more than 12 months, you would get a 50% discount.

But that’s a 50 percent discount on your marginal tax rate, which in most cases will be much higher than the super fund win rate of 15 percent.

Question 3: In your answer to Q1 of September 5, 2021, relating to the taxation of capital gains, you specify: “Any capital gain that you realize on the sale of your investment property, shares or managed funds, if” adds to your taxable income for that fiscal year ”.

Does this also apply to the proceeds of a surrendered life insurance policy? Thank you. Alain

Nowadays, most life insurance policies are unbundled of any savings element, and the proceeds paid out are generally tax-free (if the policy is held outside the super).

For example, a life insurance benefit paid directly to your spouse or child is generally not taxable when the policy is held outside of the superannuation.

However, the tax-exempt status of your death benefit may be affected when your life insurance is purchased through a pension fund and paid to a financially independent beneficiary.

But because you used the term “ceded”, you may be referring to the old-fashioned whole life or endowment policies.

These policies combined a life insurance component and a savings component. AMP, along with other life insurance companies and mutuals, sold many of these policies many years ago.

It may be necessary to include some of the proceeds as taxable income, but not as capital gains on your tax return.

Again, if purchased through a superannuation, these plans fall under normal super-tax law and are taxed differently from non-super policies.

According to the AMP Product Information Booklet on Whole Life Insurance Policies and Endowment Policies, if any of these types of non-super plans are redeemed, forfeited, terminated, or expire before the end of the term period of four or ten years, income tax is due on investment gain part of the benefits.

The investment gain portion is the difference between the amount of premiums or contributions paid into a policy and the value of the plan’s benefits when they are paid.

The policy owner must report this amount as taxable income on their tax return.

That said, since these issues can be complex, you should speak to the product supplier in regards to your specific product and then seek personalized tax advice.

Craig Sankey is a Chartered Financial Advisor and Head of Technical Services and Advisory Activation at Industry Fund Services

Warning: The answers provided are general in nature and while motivated by the questions asked, they have been prepared without considering all of your goals, financial situation or needs.

Before relying on any information, be sure to consider the relevance of the information to your goals, financial situation, or needs. As far as the law allows, no liability for errors or omissions is accepted by IFS and its representatives.

The new daily is owned by Industry Super Holdings


Source link

]]>