principal amount – Flight 93 http://flight93.org/ Sun, 20 Mar 2022 22:40:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://flight93.org/wp-content/uploads/2021/07/icon-5-150x150.png principal amount – Flight 93 http://flight93.org/ 32 32 Does the mortgage overdraft benefit all borrowers? https://flight93.org/does-the-mortgage-overdraft-benefit-all-borrowers/ Sun, 20 Mar 2022 18:47:26 +0000 https://flight93.org/does-the-mortgage-overdraft-benefit-all-borrowers/ Mortgage overdraft (OD) is a form of home loan that combines the overdraft facility with a standard home loan. The facility can make servicing a home loan much more convenient for borrowers by allowing them to make unlimited prepayments and giving them access to a larger line of credit in case of an emergency. Additionally, […]]]>

Mortgage overdraft (OD) is a form of home loan that combines the overdraft facility with a standard home loan. The facility can make servicing a home loan much more convenient for borrowers by allowing them to make unlimited prepayments and giving them access to a larger line of credit in case of an emergency. Additionally, the facility can help borrowers reduce their interest expense by reducing the outstanding principal in a flexible manner.

How it works

In a home loan overdraft facility, a lender opens a savings account or checking account that is linked to the home loan account. This account is designated to accommodate deposits made by you and subsequent withdrawals requested from your side.

Under the facility, any excess you deposit is considered by the lenders as a prepayment of the principal amount. Similar to the regular home loan, the interest on the overdraft loan is also calculated based on the outstanding principal of the loan amount.

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However, the interest is calculated on a daily basis and varies according to the outstanding principal each day. Depositing additional funds into the overdraft account reduces the interest you end up paying and the term of your loan. However, the IME remains unchanged.

Apart from the prepayment, the overdraft scheme provides liquidity from the account whenever there is a financial need. The amount and duration of the loan are adjusted accordingly. Thus, this scheme doubles as an early repayment option and a liquidity avenue. However, before opting for this option, keep in mind that any increase in the outstanding home loan balance may increase interest outflows and there may be a cap on how much you can borrow from the account. discovered.

Adhil Shetty, CEO of BankBazaar.com, said that when you decide to opt into a home loan overdraft program, your lender will link your home loan account to your checking or savings account. The monthly equivalent payment (EMI) you pay each month to service your home loan goes into this home loan account. You prepay your home loan whenever you deposit additional funds above your usual EMI. This prepayment reduces the outstanding amount of your loan and lowers the applicable interest rate. “So basically if you have an amount in your savings bank account, you can transfer it to your home loan account to pay off your loan faster,” Shetty said.

You can also withdraw money from the overdraft account at any time, as it is linked to your checking or savings account. You can also transfer money from this account to your other savings account, if needed. The overdraft account acts like a loan approved by the lender. Each time you withdraw from the overdrawn account, the repayment term is realigned with the outstanding principal amount. The interest charged on the direct debit is the same as that of the overdraft mortgage.

Shetty said: “The process of withdrawing money is the same as depositing additional funds into your home loan account. Keep in mind that withdrawals may increase the outstanding loan amount, which you would be required to repay with interest.”

Raj Khosla, Founder and MD MyMoneyMantra.com, said: “The interest rate charged on advances made through the Home Loan Overdraft Facility is a notch higher than the interest rate charged on a regular home loan. Typically, the rate differential could be between 20 and 50 basis points.”

Limitations: This can be an expensive option for you, as the interest rates are usually higher than the usual interest rates on your home loan. Ratan Chaudhary, Head of Paisabazaar.com Home Loans, said, “Because the home loan savings option offers higher liquidity and flexibility than regular home loans, banks and housing finance companies typically charge slightly higher interest rates for this facility.”

Shetty said: “The Home Loan Overdraft Facility does not provide the benefit of the Section 80C tax deduction for the prepayment of home loan principal. This is because additional funds deposited into the home loan account with the overdraft facility are not considered a repayment of principal from a tax perspective.”

Who should choose it?

Experts suggest that a mortgage overdraft can be a good option for a businessman with seasonal receivables and debts. Having an overdraft account on hand can help you when you need cash immediately and when you have excess short-term cash. Khosla says, “Salaried people with a higher income and an expectation of large percentage increases in their respective annual income can also benefit from an overdraft on a home loan, creating an opportunity fund for themselves. Moreover, they can also prepay the amount before the end of the term and can save a significant portion of the interest charges. »

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A home loan overdraft is suitable for those who seek flexibility and are willing to accept higher interest rates and loss of tax benefit. If you are considering opting for this scheme, you must first do a cost-benefit analysis to understand its implications on your actual savings.

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Would you like to benefit from tax advantages on affordable housing? You have little time left to sanction a mortgage https://flight93.org/would-you-like-to-benefit-from-tax-advantages-on-affordable-housing-you-have-little-time-left-to-sanction-a-mortgage/ Mon, 14 Mar 2022 18:18:22 +0000 https://flight93.org/would-you-like-to-benefit-from-tax-advantages-on-affordable-housing-you-have-little-time-left-to-sanction-a-mortgage/ By fulfilling the u/s 80EEA conditions, a home buyer can obtain a deduction of up to Rs 3.5 lakh (Rs 2 lakh u/s 24 and Rs 1.5 lakh u/s 80EEA) on interest paid on the home loan. In addition to getting a deduction of up to Rs 2 lakh from taxable income under Section 24 […]]]>

By fulfilling the u/s 80EEA conditions, a home buyer can obtain a deduction of up to Rs 3.5 lakh (Rs 2 lakh u/s 24 and Rs 1.5 lakh u/s 80EEA) on interest paid on the home loan.

In addition to getting a deduction of up to Rs 2 lakh from taxable income under Section 24 of the Income Tax Act, buyers of affordable housing are eligible for the additional tax deduction of Rs 1 .5 lakh under Section 80 EEA – provided that the value of the property of the house must not exceed Rs 45 lakh and the carpet area of ​​the property of the house must not exceed 60 square meters (645 square feet) in the metropolitan cities of Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, Faridabad), Hyderabad, Kolkata and Mumbai (entire Mumbai metropolitan area), while in all other cities or towns, the carpet area should not exceed 90 square meters (968 square feet).

So, by fulfilling the u/s 80EEA conditions, a home buyer can get a deduction of up to Rs 3.5 lakh (Rs 2 lakh u/s 24 and Rs 1.5 lakh u/s 80EEA) on interest paid on the home loan. However, unless further extended, the benefit can only be used on home loans sanctioned on or before March 31, 2022.

“Thus, from the start of 1 April 2022, buyers would no longer be eligible for the additional tax benefit of Rs 1.5 lakh under Section 80 EEA of the Income Tax Act 1960 , which is currently available for affordable housing. So if you’re looking to buy a home that meets the Sec 80 EEA eligibility requirements, it’s a good idea to get your home loan approved before the March 31 deadline and then wait for disbursement,” said Pramod Kathuria – Founder and CEO, Easiloan.

“Several sections of the Income Tax Act allow the buyer of a home to save tax on the interest and/or principal amount. In some respects, this is a move by the government to enable the purchase of a home and ease the burden on the borrower,” he added.

According to Kathuria, some of the tax saving provisions are –

  • Tax relief on principal amount under 80C (up to Rs 150,000 and tax deduction under Section 24(b) on interest paid (up to Rs 2 lakh for self employed and total amount under repayment for properties rented).
  • Deductions are also available under Sections 80 EE and 80EEA, which have been in effect for a few years.
  • 80EE allows an additional deduction of Rs 50,000 on top of section 24(b) for home loans sanctioned in the financial year 2016-17.

“80EEA and one of my favorites as it directly enables affordable housing – An additional deduction of Rs 150,000 on top of section 24(b). This applies to first time home buyers and a value of transaction less than Rs 45 lakh. Also, it cannot be clubbed with 80E. As you can see, this is a huge and clearly defined benefit to support the affordable first time home buyer. D ‘where a nice move that started in the 2019 budget and has continued every year since. Importantly, this also covers property under construction, unlike section 24(b) which covered those whose possession was received,” Kathuria said.

“Now the central government will not be renewing this sop beyond March 31, 2022. Therefore my advice to potential buyers (under affordable housing) is that if you are sure you are buying a house at any time in the next fiscal year (fiscal year 2022-23), then opt for a home loan sanction by the end of that fiscal year (before March 31, 2022) This sanction will allow you to take advantage of the benefits of the article 80EE A and for the full term of your home loan. Additionally, you can request a disbursement at any time until March 31, 2023,” he added.

“This is a good hack to make sure you don’t miss out on this benefit. Of course, the usual conditions under 80 EE A as mentioned before apply. Plus, in my opinion, a home loan sanction before locking home is always a good decision – it signals you are a serious buyer and gives you negotiating leverage,” Kathuria added, adding, “Also, if you have already locked in that dream home, you should go for the closing of the sanction of the mortgage loan before March 31, 2022.

“Just in case you are strayed from the entire home buying and home loan application, you don’t have to worry about missing out on this opportunity. There are 80EE and other sections as mentioned earlier Also, affordable housing is a priority area for our government, so always be optimistic about a new benefit in the future,” Kathuria suggested.

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Lewisburg Building Commission to meet March 15 | State and region https://flight93.org/lewisburg-building-commission-to-meet-march-15-state-and-region/ Sat, 12 Mar 2022 01:05:21 +0000 https://flight93.org/lewisburg-building-commission-to-meet-march-15-state-and-region/ The City of Lewisburg Building Commission will meet at 5:30 p.m. on Tuesday, March 15 in the Paul R. Cooley Council Chamber at Lewisburg City Hall, 942 Washington St. W., Lewisburg. Things to discuss: Call to order Oath of office Election of officers for calendar year 2022 Examination of the statutes and internal regulations of […]]]>

The City of Lewisburg Building Commission will meet at 5:30 p.m. on Tuesday, March 15 in the Paul R. Cooley Council Chamber at Lewisburg City Hall, 942 Washington St. W., Lewisburg.

Things to discuss:

Call to order

Oath of office

Election of officers for calendar year 2022

Examination of the statutes and internal regulations of the Building Commission

First Reading of a Proposed Building Commission Order entitled “An Order approving and authorizing the design, acquisition, construction and fitting out of a public works building to be constructed on real property located in the City of Lewisburg; the issuance by the City of Lewisburg Building Commission of its Lease Revenue Bonds, in one or more series, in an aggregate principal amount not exceeding $5,000,000, the proceeds of which will be expended to fund a part of the costs of this project and pay the costs of issuing such bonds and related fees; authorizing the execution and delivery of a deed of trust, agreement and lease, assignment of leases and other instruments and documents and approving other matters relating to the terms and security of such bonds; defining and prescribing the terms and provisions of the bonds; providing generally for the rights and remedies and the security of bondholders; provide for certain other mattes relating thereto; and provide for the effective date of this ordinance.”

Consideration of a reimbursement resolution relating to the public works building

Action needed related to the above

Adjournment

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Three reasons why you should settle the mortgage last if you have several loans https://flight93.org/three-reasons-why-you-should-settle-the-mortgage-last-if-you-have-several-loans/ Wed, 02 Mar 2022 02:05:28 +0000 https://flight93.org/three-reasons-why-you-should-settle-the-mortgage-last-if-you-have-several-loans/ Most households have multiple EMIs running at once – from a home loan to a car loan to perhaps a durable consumer loan or even a credit card or personal loan. It is advisable to take out loans based on your cash flow and other expenses, there are times when the situation can become overwhelming […]]]>

Most households have multiple EMIs running at once – from a home loan to a car loan to perhaps a durable consumer loan or even a credit card or personal loan. It is advisable to take out loans based on your cash flow and other expenses, there are times when the situation can become overwhelming especially if there is a job loss or a drop in salary.

If you find yourself with several loans and you are not able to manage them all, it may be a good idea to settle some of the loans to reduce the burden, both financial and emotional.

Usually, the home loan is the most important because it is taken for an expensive asset, but settling the home loan first to reduce your burden may not be the right approach. Read on to find out why.

Lowest interest cost

Typically, home loans have the lowest cost or interest rate. It is best to settle the loans that have the highest cost. These are usually credit cards and personal loans. The interest rates for these loans can go up to 20%. By comparison, some financial institutions have mortgage rates as low as around 7% for certain categories of borrowers.

Consider reducing the burden of interest charges, as this is something you pay in addition to the principal amount. It’s best to close the personal or credit card loan first, as it’s likely to have the highest interest rate. Next in line should be car loans. Auto loan interest rates are usually fixed and higher than home loan rates. Currently, they are around 7 to 8%.

“A car loan is for a depreciating asset (i.e. a vehicle), so it has to be repaid after a personal loan because the interest rates are higher compared to a home loan,” says V. Swaminathan, CEO of Andromeda and Apnapaisa, a lending distribution company and its digital arm, respectively.

Fiscal advantages

Unlike a personal loan, credit card or car, the repayment of home loans offers a tax advantage on interest and principal repayment.

Given the tax benefits, home loans must be repaid after all other loans have been repaid. “When it comes to home loans, there are advantages such as tax benefits for paying principal and interest, which proves beneficial in the longer term because a home or house is an appreciating asset. and, therefore, you can try to keep them for a while,” says Swaminathan.

Auto

The main part of the EMI paid for the year is allowed as a deduction under Section 80C of the Income Tax Act up to Rs 1.5 lakh. Remember that this deduction is available if the property is not sold within five years of owning it. For the interest part of the EMI, a maximum deduction of Rs 2 lakh is allowed under Section 24B. In this case, the loan must be taken out for the purchase/construction of a house and the construction must be completed within five years of the end of the financial year in which the loan was taken out.

There could be another deduction of Rs 50,000 for the interest part, under Section 80EE, where the loan amount taken should be Rs 35 lakh or less and the value of the property should not exceed Rs 50 lakh . Additionally, there could be a deduction of Rs 1.5 lakh for the interest portion, under Section 80EEA, where the stamp value of the property is Rs 45 lakh or less.

Build an asset

Remember that a home loan helps you build wealth, which is not the case with other loans. A consumer loan or auto loan will also help you acquire and own property, but such property depreciates over time, unlike a house.

There’s no greater sense of accomplishment than prepaying or foreclosing a loan. “In doing so, it should be borne in mind that there are additional prepayment charges applicable in the event of a personal or car loan; home loans are mostly free of these fees. After paying the full amount of the closing, remember to obtain the “No Objection Certificate” (NOC) from the lender and the closing will be duly updated in the database of the credit authority . Remember to request and retrieve your original/pledged documents and removal of the lien from the pledged property or vehicle,” Swaminathan adds.

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What is that? Advantages and disadvantages https://flight93.org/what-is-that-advantages-and-disadvantages/ Fri, 25 Feb 2022 09:29:00 +0000 https://flight93.org/what-is-that-advantages-and-disadvantages/ Standard Chartered Bank has launched the “interest only home loan” in which borrowers will only pay the interest amount for an “interest only” period of up to 36 months. What is an Interest Only Home Loan? In an interest-only home loan, the borrower pays only the amount of interest for the initial period specified by […]]]>

Standard Chartered Bank has launched the “interest only home loan” in which borrowers will only pay the interest amount for an “interest only” period of up to 36 months.

What is an Interest Only Home Loan?

In an interest-only home loan, the borrower pays only the amount of interest for the initial period specified by the bank. After the “interest only period” ends, the borrower pays the full EMI, including the principal amount and interest until maturity.

Benefits of an Interest-Only Home Loan

The advantage of interest only home loans will be the low monthly payments during the interest only period. Borrowers will have additional savings that they can use to invest for higher returns.

There is flexibility offered in an interest only loan, borrowers have the option to start paying the EMI in full sooner.

Disadvantages of an Interest Only Home Loan

Since there is no repayment of principal in the interest-only period, the tax deduction under Section 80C of the Income Tax Act is not available during the period. . Additionally, there may be a payment shock when the initial interest-only period ends for borrowers.

It is true that repayment of installments is low during the interest-only period, but the overall loan burden increases with these products.

According to a Times Now report, for example, in a regular home loan of Rs 50 lakh at an interest rate of 8% for 30 years, the total amount payable in a regular loan will be Rs 1.32 crore while in an interest only loan the total amount will be Rs 1.34 crore.

The comparison is for educational purposes only and the actual result may differ from case to case. However, the underlying principle of an increased payment will remain the same.

Borrowers should opt for this only if their financial needs require it. According to Live Mint, since interest rates are currently low, it will be better to repay the loan and reduce the outstanding debt, provided the borrower can pay the EMI, including the principal amount.

Other banks offer similar services under different home loan products such as SBI’s Flexipay and a home loan overdraft called ‘SBI Maxgain’ where your primary obligation is to serve interest only.

(Edited by : Thomas Abraham)

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Unfair ‘settlement’ puts bank under High Court scanner | Chennai News https://flight93.org/unfair-settlement-puts-bank-under-high-court-scanner-chennai-news/ Sat, 19 Feb 2022 22:12:00 +0000 https://flight93.org/unfair-settlement-puts-bank-under-high-court-scanner-chennai-news/ CHENNAI: Noting a bank’s single settlement offer of 14 lakh, against the principal loan amount of 62 lakh, and a court-ordered sum of 1.8 crore with interest, the Madras High Court has launched a due diligence investigation against the bank. Appalled by the settlement pact, the First Bench of Chief Justice Munishwar Nath Bhandari and […]]]>
CHENNAI: Noting a bank’s single settlement offer of 14 lakh, against the principal loan amount of 62 lakh, and a court-ordered sum of 1.8 crore with interest, the Madras High Court has launched a due diligence investigation against the bank.
Appalled by the settlement pact, the First Bench of Chief Justice Munishwar Nath Bhandari and Justice D Bharatha Chakravarthy has now summoned the bank to explain why a vigilance investigation should not be ordered against the officer who agreed to the single settlement .
“Public money cannot be allowed to be embezzled in this way,” the bench said.
The matter relates to a plea filed by Virudhunagar-based Pandian Extractions Private Ltd challenging the decision of the Union Finance Ministry to reject the Single Settlement Pact entered into between the petitioner and the Industrial Investment Bank of India (IIBI).
“This tribunal takes cognizance suo motu of the whole matter relating to the Single Settlement and intends to know why an instruction should not be given to file a vigilance investigation or register a case against the officer who was implicated in the conclusion of a single settlement term, as well as against the plaintiff/appellant who is the beneficiary of the transaction,” the judges said.
“The action of the bank in making a single settlement for 14 lakh, against the principal amount due of 62 lakh and the decretal amount of 1.85 crore, this too, when two properties of the appellant were available, stinks of bad faith intentions and it only shows that there is more to the whole transaction than meets the eye,” the court said.
The court then adjourned the appeal until February 23 for the bank to respond.
A former Chief Justice of the High Court of Madras once said that Indians regard failure to pay a bank loan as their basic right. To prove the same, a failing private company managed to convince a bank to accept a one-time settlement of 14 lakh against a principal loan amount of 62 lakh and a court-ordered amount of 1.85 crore with interest.
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DOMINICAN REPUBLIC ANNOUNCES EXPIRATION OF OFFER TO PURCHASE https://flight93.org/dominican-republic-announces-expiration-of-offer-to-purchase/ Wed, 16 Feb 2022 13:50:00 +0000 https://flight93.org/dominican-republic-announces-expiration-of-offer-to-purchase/ Santo Domingo, Dominican Republic, February 16, 2022 /PRNewswire/ — The Dominican Republic (the “Republic“) today announced the aggregate principal amount of Notes that have been validly tendered pursuant to its previously announced offer to purchase in cash the Existing Notes listed in the tables below (the “To offer“), on the terms and subject to the […]]]>

Santo Domingo, Dominican Republic, February 16, 2022 /PRNewswire/ — The Dominican Republic (the “Republic“) today announced the aggregate principal amount of Notes that have been validly tendered pursuant to its previously announced offer to purchase in cash the Existing Notes listed in the tables below (the “To offer“), on the terms and subject to the conditions described in the information notice of the February 9, 2022 (the “Offering Document“). The Offer expired as scheduled at 8:00 a.m. (New York City It’s time February 16, 2022. The total principal amount of the tendered Existing Bonds was $1,162,218,000.00. Capitalized terms used but not defined herein have the meaning ascribed to them in the Offer Document.

The following tables indicate the total principal amount of the Existing Bonds which have been validly tendered in response to the Offer at 8:00 a.m. (New York City It’s time February 16, 2022.

Table 1 – Existing aggregate ratings

Title of Existing Global Notes

ISIN / CUSIP code

Global Principal
Amount offered(1)

Percentage of
Global Principal
Amount offered(2)

Purchase price(3)

6.6000% bonds due 2024

144A: US25714PBZ09 / 25714P BZ0

Reg S: USP3579EAT49 / P3579E AT4

$228,658,000.00

81.97%

$1,093.25

Bonds redeemable at 5.875% due

2024

144A: US25714PBY34 / 25714P BY3

Reg S: USP3579EAS65 / P3579E AS6

$536,495,000.00

87.74%

$1,057.50

___________________

(1)

Information regarding the aggregate principal amount of the Outstanding Global Notes is based on information received from the Tender and Information Agent (as defined below).

(2)

Principal amount of each series of Existing Global Notes deposited under the Offer, expressed as an approximate percentage of the aggregate principal amount of outstanding Existing Global Notes of such series.

(3)

Per $1,000 principal amount of Existing Global Bonds validly presented and accepted for purchase. Holders whose Existing Global Notes have been validly tendered and accepted for purchase pursuant to the Offer will also receive Accrued Interest. Holders whose Existing Global Notes have been validly tendered and accepted for purchase pursuant to the Offer will be paid in US dollars as described in the Offer Document.

Table 2 – Existing local notes

Title of existing local notes

IS IN

Global Principal
Amount offered(1)

Percentage of
Global Principal
Amount offered(2)

Purchase price(3)

7.000% US dollar denominated bonds due
July 2023

DO1005244525

$397,065,000.00

79.41%

$1,090.00

___________________

(1)

Information regarding the Aggregate Principal Amount of Existing Local Notes is based on information received from CEVALDOM, Deposito Centralizado de Valores, SA

(2)

Principal amount of the Existing Local Bonds tendered to the Offer expressed as an approximate percentage of the aggregate principal amount of the Existing Local Bonds outstanding.

(3)

Per $1,000 principal amount of existing Local Notes validly tendered and accepted for purchase. Holders whose Existing Local Notes have been validly tendered and accepted for purchase pursuant to the Offer will also receive Accrued Interest. Holders whose Existing Local Notes have been validly tendered and accepted for purchase pursuant to the Offer will be paid in US dollars as described in the Offer Document.

The Offer is conditional upon, among other things, the simultaneous (or earlier) closing of an issue by the Republic of one or more series of bonds denominated in US dollars, New York debt securities governed by law, in an aggregate principal amount, with a price and terms and conditions acceptable to the Republic in its sole discretion (the “New ticket offer“). The Republic intends to use a portion of the net proceeds of the New Bond Offering to purchase the Existing Bonds accepted for purchase. The New Bond Offering has been made solely by way of a offering memorandum relating to the Offering of New Bonds, and neither this announcement nor the Offering Document constitutes an offer to sell or the solicitation of an offer to buy such new bonds.

The Republic reserves the right, in its sole discretion, not to accept valid orders to tender Existing Obligations in accordance with the terms and conditions of the Offer or to terminate the Offer with respect to one or more series for any reason whatsoever. it would be. Upon termination of the Offer with respect to a series, the tendered Existing Bonds of that series will be returned to the Holder.

The aggregate purchase price for the principal amount of a series of Existing Notes validly tendered by a Holder and accepted by the Republic will be a cash amount equal to the principal amount outstanding of such Existing Notes, multiplied by the price of purchase, plus accrued interest (the “Total purchase price“). If the Aggregate Purchase Price less Accrued Interest for all Existing Bonds validly tendered (the “Offered total purchase price“) would exceed the maximum purchase price, then the Republic will, in its sole discretion, select one or more series of existing tickets to be pro-rated based on the same or different pro-rating factors.

The purchase price applicable to each series of Existing Notes will be payable in US dollars.

Settlement for Existing Securities validly offered and accepted should take place on Tuesday, February 22, 2022subject to change without notice (the “Settlement date for existing tickets“).

If the Republic accepts all or part of a holder’s offer of Existing Notes of any series, the holder will be entitled to receive for such Existing Notes the applicable purchase price plus accrued interest, which will be paid on the date settlement of the existing notes if the conditions of the Offer are satisfied.

At February 16, 2022at or around 5:00 p.m. (New York City time), subject to change without notice, the Republic plans to announce: (i) the maximum purchase price; (ii) the total purchase price offered; (iii) the aggregate principal amount of the Offers of each series of Existing Bonds which has been accepted; and (iv) any pro rata submissions of any series of Existing Securities.

The Offer Document can be downloaded from the website of Global Bondholder Services Corporation (the “Tender and Information Officer“) at https://www.gbsc-usa.com/dominican/ or obtained from the tender and information agent or from one of the concession-managers at the coordinates below. Questions regarding the offer can be directed to the dealership managers at the contact details below.

The Dealer Managers of the Offer are:

Citigroup Global Markets Inc.

388 Greenwich Street, 4and Ground negotiation

New York, New York 10013

united states of america

Attention: Accountability Management Group

Collect: +1 (212) 723-6106

Toll Free: +1 (800) 558-3745

Email: ny.liabilitymanagement@citi.com

JP Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

united states of america

Attention: Latin American Debt Capital Markets

Collect: +1 (212) 834-7279

Toll Free: +1 (866) 846-2874

The Submission and Information Agent for Existing Global Securities is:

Global Bondholder Services Company
65 Broadway – Suite 404
New York, New York 10006
united states of america
Attention: Corporate Actions

Banks and brokers call: (212) 430-3774
Toll free +1 (855) 654-2014
E-mail: contact@gbsc-usa.com

By fax:
(For eligible establishments only):
+1 (212) 430-3775/3779

Confirmation:
+1 (212) 430-3774

By email:

By night courier:

By the hand:

65 Broadway – Suite 404

New York, New York 10006

united states of america

65 Broadway – Suite 404

New York, New York 10006

united states of america

65 Broadway – Suite 404

New York, New York 10006

united states of america

Important Notice

This announcement is for informational purposes only. It is not complete and may not contain all the information you need to consider before depositing Existing Securities. You should read the entire offering document.

This announcement is not an offer to buy in cash or a solicitation of invitations to offers to buy in cash for Existing Securities. The distribution of documents relating to the Offer and the transactions contemplated therein may be restricted by law in certain jurisdictions. The Offer is made only by the Offer Document and in jurisdictions where it is legal to do so. The Offer is void in all jurisdictions where it is prohibited. If any documents relating to the Offer come into your possession, you are responsible for informing yourself of and complying with all such restrictions. Each person accepting the Offer shall be deemed to have represented, warranted and covenanted (with respect to himself and any person for whom he is acting) that he is not a person to whom it is unlawful to make the Offer pursuant to the Offer Document, that it has not distributed or transmitted the Offer Document or any other document or material relating to the Offer to any such person, and that it has complied with all laws and regulations applicable to it for the purpose of participating in the Offer. Neither the Republic nor the Dealer Managers accept any liability for any breach by any person of the applicable restrictions in any jurisdiction.

The Offer Materials, including this announcement, do not constitute, and may not be used in connection with, an offer or solicitation in any location where offers or solicitations are not permitted by law. This announcement and the Offer Document do not constitute an offer to buy or a solicitation of an offer to sell securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. In any jurisdiction in which the Offer is required to be made by an approved broker or dealer and in which any Dealer Manager or any of its affiliates is so approved, it shall be deemed to have been made by the Dealer Managers or such affiliates on behalf of the Republic.

Quote

Show original content:https://www.prnewswire.com/news-releases/the-dominican-republic-announces-expiration-of-offer-to-purchase-301483704.html

SOURCE The Dominican Republic

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GCR Ratings Proposed Series 1 Bond Issue by Presco Plc up to N30 Billion https://flight93.org/gcr-ratings-proposed-series-1-bond-issue-by-presco-plc-up-to-n30-billion/ Sun, 06 Feb 2022 09:30:58 +0000 https://flight93.org/gcr-ratings-proposed-series-1-bond-issue-by-presco-plc-up-to-n30-billion/ Sunday 06 February 2021 / 08:00 / by GCR Ratings / Header Image Credit: Presco PLC GCR Ratings (“GCR”) has assigned a National Long Term Indicative Rating of A-(NG)(IR) to Presco Plc offered up to N30 billion of Series 1 senior unsecured bonds with the outlook seen as stable. *IR stands for indicative rating The […]]]>

Sunday 06 February 2021 / 08:00 / by GCR Ratings / Header Image Credit: Presco PLC

GCR Ratings (“GCR”) has assigned a National Long Term Indicative Rating of A-(NG)(IR) to Presco Plc offered up to N30 billion of Series 1 senior unsecured bonds with the outlook seen as stable.


*IR stands for indicative rating

The indicative rating assigned to the proposed N30 billion Series 1 senior unsecured bond reflects the long-term rating of the issuer, namely Presco Plc, one of Nigeria’s leading palm oil producers. GCR has assigned a nationwide long-term issuer rating of A-(NG) to issuer with a stable outlook in February 2022. The rating balances Presco’s robust earnings trajectory, moderate leverage and strong competitive position in Nigeria’s palm oil producing segment against the valuation weakest of its parent company, Siat NV Belgium (“Siat NV” or “the group”). (link to the issuer’s ARC)

Presco Plc is in the process of registering a N50 billion bond issuance program (“the programme”) with the Securities and Exchange Commission, with up to N30 billion to be issued in series bonds 1 under the program, with an expected duration of seven years, including a three-year moratorium on the principal amount from the date of issue. The Series 1 Bond will include a call option whereby the Issuer may choose to make early redemption of the Bonds, in whole or in part, at the expiry of a period of 48 months from the date issue pursuant to the provisions of the Series 1 Trust Indenture. Repayment of principal on the Series 1 Bond will be on an amortized basis, after the principal moratorium period or on call, while the coupon payment will accrue from the date of issue and will be due. and payable semi-annually in arrears, up to and including the maturity date.

The Series 1 Notes will be direct, unconditional, senior, unsubordinated and unsecured obligations of the Issuer and will rank past bet without any preference between them. Bonds also rank past bet with all other senior unsecured and unsubordinated obligations assumed by the Issuer other than those mandatorily preferred by law.

Being senior unsecured debt, the proposed Series 1 Notes will rank past bet with all other senior unsecured creditors of the Issuer. Thus, the Bonds will have the same national long-term rating as that granted to the Issuer. Consequently, any change in the long-term rating of the Issuer would impact the rating of the Bond.

The stable outlook reflects GCR’s view that Siat NV will maintain the recent return to profitability and stable cash flow and significantly reduce debt. GCR also expects Presco to continue to post strong revenue growth and solid margins, which should cushion the debt surge.

As Presco’s rating is currently constrained by its parent company, a rating upgrade is contingent on Siat NV’s strengthening financial condition, including 1) Siat NV’s ability to demonstrably sustain recent earnings improvements and net profits, 2) significantly reduce gross debt to more sustainable levels, 3) improve corporate governance deficiencies. This needs to be complemented by sound cash management at Presco such that 12-month cash coverage exceeds 2x and net debt to EBITDA moderates into the 1x-1.25x range.

A downgrade move could result from 1) failure to address Siat NV’s concerns and further weak earnings performance, 2) a significant increase in debt, whether at Presco or the Group.

Proshare Nigeria Pvt.  ltd.

Related News

1. Presco Plc will hold a board meeting on January 26, 2022

2. Presco Plc maintained its outperform rating when reviewing third quarter 2021 results

3. Review of Presco Q4’20 and Q1’21 results: strong outlook for FY21 2021 thanks to strong fundamentals

4. PRESCO Declares N5.3 Billion PAT in Audited 2020 Results and Proposes Final Dividend of N200,000; (SP:N72.00k)

5. Presco postpones board meeting to March 23, 2021

6. PRESCO notifies the date of the board meeting and the start of the closed period

seven. PRESCO reports N7bn PAT in fourth quarter 2020 results, (SP: N75.00k)

8. PRESCO notifies the date of the board meeting and the start of the closed period

9. Presco Plc Q3 2020 Unaudited Results – Cost Pressures Keep Profits Flat

ten. PRESCO Reports N5bn PAT in Third Quarter 2020 Results, (SP: N65.90k)

Proshare Nigeria Pvt.  ltd.

Proshare Nigeria Pvt.  ltd.

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Alexandria Real Estate Equities, Inc. Announces Public Offering Price of $800,000,000 Senior Bonds Due 2034 $1,000,000,000 Senior Bonds Due 2052 https://flight93.org/alexandria-real-estate-equities-inc-announces-public-offering-price-of-800000000-senior-bonds-due-2034-1000000000-senior-bonds-due-2052/ Thu, 03 Feb 2022 00:57:34 +0000 https://flight93.org/alexandria-real-estate-equities-inc-announces-public-offering-price-of-800000000-senior-bonds-due-2034-1000000000-senior-bonds-due-2052/ PASADENA, Calif., February 2, 2022 /PRNewswire/ — Alexandria Real Estate Equities, Inc. (“Alexandriaor the “Company”) (NYSE: ARE) today announced that it has priced a public offering of $800,000,000 aggregate principal amount of the 2.950% Senior Notes due 2034 and $1,000,000,000 aggregate principal amount of the 3.550% Senior Notes due 2052 (the “Notes”). Goldman Sachs & […]]]>

PASADENA, Calif., February 2, 2022 /PRNewswire/ — Alexandria Real Estate Equities, Inc. (“Alexandriaor the “Company”) (NYSE: ARE) today announced that it has priced a public offering of $800,000,000 aggregate principal amount of the 2.950% Senior Notes due 2034 and $1,000,000,000 aggregate principal amount of the 3.550% Senior Notes due 2052 (the “Notes”). Goldman Sachs & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc., RBC Capital Markets, LLC, Evercore Group LLC, JP Morgan Securities LLC, Mizuho Securities United States LLC, PNC Capital Markets LLC, Scotia Capital (United States) Inc., SMBC Nikko Securities America, Inc., TD Securities (United States) LLC and US Bancorp Investments, Inc. are acting as joint bookrunners for the public offering and Barclays Capital Inc., BNP Paribas Securities Corp., Capital One Securities, Inc., Fifth Third Securities, Inc. , Regions Securities LLC and Truist Securities, Inc. are acting as co-managers in the public offering.

The senior notes due 2034 were priced at 99.696% of the principal amount with a yield to maturity of 2.980% and the senior notes due 2052 were priced at 99.575% of the principal amount with a yield at maturity of 3.573%. The Notes will be unsecured obligations of the Company and fully and unconditionally guaranteed by Alexandria Real Estate Equities, LP, an indirectly wholly owned subsidiary of the Company. Ticket sales are expected to close on or about February 16, 2022subject to customary closing conditions.

The net proceeds of the 2.950% Senior Notes due 2034 will initially be used for general corporate purposes, which may include reducing the outstanding balance of the Company’s senior unsecured line of credit, if applicable, the reduction of outstanding debt under the commercial paper program, if any, the repayment of other indebtedness and the selective development, redevelopment or acquisition of properties. In addition, following the initial allocation of the net proceeds described above, the Company will apply an amount equal to the net proceeds of the 2.950% Senior Notes due 2034 to fund, in whole or in part, projects recently completed and eligible future greens, which are defined as certain development, redevelopment or leasehold improvement projects that have received or are expected to receive LEED Gold or Platinum certification, including the development and redevelopment of such projects.

The net proceeds of the 3.550% Senior Notes due 2052 will be used for general working capital and other general corporate purposes, which may include reducing the outstanding balance of the Senior Line of Credit unsecured rank of the Company, if applicable, the reduction of outstanding debt under the Company’s commercial paper program, if applicable, the early repayment by cancellation of a secured note payable having an accounting balance of $196.5 million from December 31, 2021a contractual interest rate of 4.82% and a maturity of February 6, 2024the repayment of other debts and the selective development, redevelopment or acquisition of properties.

The Notes are being offered pursuant to an effective registration statement on Form S-3 that has been previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Company’s Notes, and there will be no sale of the Notes in any state in which such offer, solicitation or sale would be illegal before registration. or a qualification under the securities laws of such state.

Copies of the prospectus supplement relating to this offering, when available, may be obtained by contacting: Goldman Sachs & Co. LLC, Attn: Prospectus Department, at 200 West Street, New York, NY 10282, by phone at (866) 471-2526, by fax at (212) 902-9316 or by e-mail at: prospectus-ny@ny.email.gs.com; BofA Securities, Inc., NC1-004-03-43, Attn: Prospectus Department, at 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001 or by e-mail to dg.prospectus_requests@bofa.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by phone toll-free at (800) 831-9146 or by email at prospectus@citi.com; or RBC Capital Markets, LLC, Attn: Syndicate Operations, at 200 Vesey Street, 8th Floor, New York, NY 10281, by telephone toll-free at (866) 375-6829, by fax at (212) 428-6308 or by email at rbcnyfixed incomeprospectus@rbccm.com.

Alexandriaan S&P 500® Urban Office Real Estate Investment Trust, is the oldest and most pioneering owner, operator, and developer focused solely on collaborative life sciences, agtech, and technology campuses in cluster locations. AAA innovation. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations including Greater Bostonthe San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle.

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding the Company’s offering of Notes and the intended use of proceeds. These forward-looking statements are based on the company’s current intention, beliefs or expectations, but the realization of forward-looking statements is not guaranteed and may not occur. Actual results may differ materially from those contained or implied by the Company’s forward-looking statements due to a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange. Committee. All forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update such information. For information about risks and uncertainties that could cause actual results to differ materially from those anticipated in the company’s forward-looking statements, as well as risks and uncertainties about the company’s business generally, please refer to the company’s filings with the Securities and Exchange Commission. , including its most recent annual report on Form 10-K and all quarterly reports subsequently filed on Form 10-Q.

CONTACT: Sara KabakoffVice President – ​​Communications, (626) 788-5578, skabakoff@are.com

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SOURCE Alexandria Real Estate Equities, Inc.

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NOTICE OF MORTGAGE FORECLUSION SALE – West Central Tribune https://flight93.org/notice-of-mortgage-foreclusion-sale-west-central-tribune/ Wed, 02 Feb 2022 08:36:00 +0000 https://flight93.org/notice-of-mortgage-foreclusion-sale-west-central-tribune/ NOTICE OF MORTGAGE FORCE SALE THE RIGHT TO VERIFICATION OF THE DEBT AND THE IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PERMITTED BY LAW IS NOT AFFECTED BY THIS ACTION. NOTICE IS HEREBY GIVEN that a default has occurred in the terms of the mortgage described below: DATE OF MORTGAGE: July 20, 2018 MORTGAGE: […]]]>

NOTICE OF MORTGAGE FORCE SALE THE RIGHT TO VERIFICATION OF THE DEBT AND THE IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PERMITTED BY LAW IS NOT AFFECTED BY THIS ACTION. NOTICE IS HEREBY GIVEN that a default has occurred in the terms of the mortgage described below: DATE OF MORTGAGE: July 20, 2018 MORTGAGE: Joel Otto and Candace Otto, husband and wife and Todd A. Otto and Sandra J. Otto, husband and wife. MORTGAGE CREDITOR: Mortgage Electronic Registration Systems, Inc. as agent for Carrington Mortgage Services, LLC, its successors and assigns. DATE AND PLACE OF RECORDED: Recorded July 25, 2018, Kandiyohi County Recorder Document No. 652153. MORTGAGE ASSIGNMENTS: Attributed to: BankUnited, NA Dated January 20, 2022 Recorded January 21, 2022, No. Document 684689. TRANSACTION AGENT: Mortgage Electronic Registration Systems, Inc. TRANSACTION AGENT’S MORTGAGE IDENTIFICATION NUMBER ON MORTGAGE: 1006037-9000510300-2 LENDER OR BROKER AND ISSUER OF MORTGAGE DECLARED ON THE MORTGAGE: Carrington Mortgage Services, LLC RESIDENTIAL MORTGAGE LOAN AGENT: Carrington Mortgage Services LLC MORTGAGE PROPERTY ADDRESS: 504 26th Ave SW, Willmar, MN 56201 TAX PARCEL ID: 956830640 LEGAL PROPERTY DESCRIPTION: Lot 14, Block 5 Portland Acres Third addition to the Town of Willmar, Kandiyohi County, Minnesota COUNTY IN WHICH THE PROPERTY IS LOCATED: Kandiyohi ORIGINAL PRINCIPAL AMOUNT OF THE MORTGAGE: $123,626.00 AMOUNT DUE AND CLAIMED DUE AT DATE OF NOTICE, INCLUDING TAXES, IF ANY, PAID BY CREDITOR: $138,593.22 Prior to commencement of this Mortgage Foreclosure Proceeding Mortgagee / Mortgagee Assignee s has complied with all notice requirements required by law; That no action or proceeding has been commenced at law or otherwise to recover the debt secured by said mortgage, or any part thereof; Pursuant to the power of sale contained in said mortgage, the property described above will be sold by the sheriff of said county as follows: DATE AND TIME OF SALE: March 29, 2022 at 10:00 a.m. PLACE OF SALE: Sheriff’s Office, Law Enforcement Center , 2201 23rd Street NE, Willmar, MN to pay the debt then secured by said mortgage, and taxes, if any, on said premises, and costs and disbursements, including attorneys’ fees permitted by law subject reimbursement within six (6) months from the date of the said sale by the mortgagor(s), their personal representatives or assigns, unless reduced to five (5) weeks under MN Stat. §580.07. TIME AND DATE OF VACATION OF PROPERTY: If the property is an owner-occupied single family home, unless otherwise provided by law, the date on or before which the mortgagor(s) must vacate the property if the mortgage does not is not reinstated under section 580.30 or if the property is not redeemed under section 580.23 is September 29, 2022 at 11:59 p.m., unless that date falls on a weekend or a public holiday, in which case it falls on the following weekday, and the redemption period is reduced to 5 weeks under MN Stat. Dry. 580.07 or 582.032. MORTGAGE AGENT(S) RELEASED FROM FINANCIAL OBLIGATION ON THE MORTGAGE: None DETERMINING, AMONG OTHERS, THAT THE MORTGAGE PREMISES ARE IMPROVED BY A RESIDENTIAL DWELLING OF LESS THAN FIVE UNITS, ARE NOT USED PROPERTIES TO AGRICULTURAL PRODUCTION AND ARE ABANDONED. Dated: January 24, 2022 BankUnited, NA Mortgagor/Mortgage Assignee LIEBO, WEINGARDEN, DOBIE & BARBEE, PLLP 001050 FC WHERE REQUIRED BY FEDERAL LAW: THIS IS A COMMUNICATION FROM A DEBT COLLECTOR. (Feb. 2, 9, 16, 3; Mar. 2 and 9, 2022) 27910

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