Category Archive: Secured Financing

2016
01/19

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

CIT Group Inc. (CIT) PT Lowered to $47.00

CIT Group (NYSE:CIT) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $0.26 EPS for the quarter, missing the Zacks consensus estimate of $0.75 by $0.49. During the same period last year, the firm earned $2.76 EPS. Equities research analysts expect that CIT Group will post $5.81 EPS for the current fiscal year.

CIT Group Inc. is a bank holding company (NYSE:CIT), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

2016
01/17

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

Crystal Rock Holdings, Inc. Appoints David Jurasek Chief Financial Officer

Crystal Rock Holdings, Inc. Appoints David Jurasek Chief Financial Officer

Extensive Leadership and Finance Experience for a Publicly Traded Corporation January 13, 2016: 08:00 AM ET

Crystal Rock Holdings, Inc. (NYSE MKT: CRVP) announces the promotion of David Jurasek to Chief Financial Officer. With extensive experience managing and optimizing finance functions for a publicly traded corporation, Jurasek will assume accountability and responsibility for the corporate finance function, including accounting, financial planning and reporting, internal controls, investor relations, treasury, tax and financial operations.

Most recently, Jurasek has served the last four years as Crystal Rock’s Vice President of Finance where he was responsible for corporate accounting, taxes and financial reporting. Beginning at Crystal Rock in 1995, Jurasek has served in various financial and insurance capacities including the merger between Crystal Rock and Vermont Pure in 2000. Prior to Crystal Rock, he worked as Director of Finance for Nuclear Energy Services where he secured financing and insurance benefits, implemented a series of software packages and was the key interface between tax authorities and government contract auditors. David Jurasek is a graduate of Nasson College with a Bachelor of Science in Accounting & Business Administration; he is also a UCONN MBA graduate with a concentration in management.

“David has played a critical role in the financial development and stability of our organization. He is not only an experienced and highly skilled finance professional; he is also a natural leader. I congratulate him on this richly deserved promotion,” stated Peter Baker, CEO, Crystal Rock Holdings, Inc. “I can’t think of anyone who better represents the highest standards of our company integrity and core values. We are fortunate to have an asset within our organization who accounts for today’s market challenges with the application of sound financial principles.”

ABOUT CRYSTAL ROCK HOLDINGS, INC.
Crystal Rock Holdings, Inc. (NYSE MKT: CRVP), operating through its subsidiary Crystal Rock LLC, markets and distributes water and coffee service, office supplies, refreshment beverages and other break room items to the commercial office and at home markets throughout the Northeast. For over 100 years, the company has provided quality and high value service, and it’s the largest independent delivery provider of its kind in the United States. It bottles and distributes natural spring water under the Vermont Pure® brand, purified water with minerals added under the Crystal Rock® Waters label and it roasts and packages coffee under its Cool Beans® brand. Launched in 2010, the Crystal Rock Office® brand features traditional office supplies, break room items, furniture and janitorial and sanitation products. The majority of its sales are derived from a route distribution system that delivers water in 3- to 5-gallon reusable, recyclable bottles, and coffee in fractional packs or pods. Crystal Rock believes “Little Things Matter(TM)” to the customer experience with high standards for delivering premium service excellence and results in customer productivity — at work or at home. Through technical innovation, a branded customer experience and a commitment to community and environment, Crystal Rock family values are integral to the relationships between employees and customers. More information is available at CrystalRock.com.

 

2015
08/29

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

Landfill Energy Contract Extended

Director of Solid Waste Timm Schimke says California-based Waste To Energy Group has suffered numerous delays in securing funding, but finally appears ready to proceed. They have given us documentation showing us they have secured financing for the project, and they have given us a fairly detailed milestones schedule; and they have given us some draft documents of both Community Development and DEQ permit applications. So, the county feels comfortable that progress is being made.

2015
08/26

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

Investment Analysts’ Recent Ratings Changes for Franklin Street Properties …

Franklin Street Properties Corp. (NYSE:FSP) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters consensus estimate of $0.27. Analysts anticipate that Franklin Street Properties Corp. will post $1.06 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend is Wednesday, July 22nd.

Franklin Street Properties Corp. (NYSE:FSP) is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets and operates through real estate operations segment. The real estate operations segment involves real estate rental operations, leasing, secured financing of real estate and services provided for asset management, property management, property acquisitions, dispositions and development. FSP Corp holds, directly and indirectly, 100% of the interest in three former subsidiaries: FSP Investments LLC, FSP Property Management LLC, FSP Holdings LLC, and FSP Protective TRS Corp. The Company operates some of its business through these subsidiaries.

Receive News Ratings for Franklin Street Properties Corp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts ratings for Franklin Street Properties Corp and related companies with MarketBeat.coms FREE daily email newsletter.

2015
08/25

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

iContainers helps companies move freight globally through its online service

Several years ago, two freight forwarders in Spain found to their dismay that they had lost a client.

The customer called their Barcelona company after hours to urgently request information on a freight shipment — transportation schedules, costs, alternative ocean routes — but could not reach the two agents and switched to a competing company.

The two Spaniards — Iván Tintore and Carlos Hernández — decided they needed to offer a more efficient way to meet the needs of their international clientele, who move large volumes of cargo each year by ocean and air freight.

As a result, they developed iContainers, a pioneering online service that allows shippers anywhere to log onto iContainers.com 24 hours a day, search thousands of transportation options, and find the best routes, schedules and rates for moving their merchandise.

“We realized that the freight-forwarding industry was old-fashioned and needed to change,” said Hernández, iContainers’ co-founder and global managing director. “We are like Kayak.com and Expedia.com, but instead of moving people, we move freight.”

The two developed the first Internet-based freight-forwarding system in Barcelona at the end of 2007, secured financing from venture capital firms and set up the new company. “We offer our clients the option of searching for the best routes for ocean or air freight, and quoting and booking online,” Hernández said. “Essentially, you log onto iContainers.com and compare the cost of shipping goods from point A to point B, anywhere in the world.”

One of the main pages on the iContainers website, showing a cargo vessel loaded with multicolored containers in the background, summarizes what the company offers: “SEARCH. CHOOSE. BOOK. Best rates guaranteed.”

The company helps clients move freight throughout Europe, North and South America, Africa, Asia and Australia via sea and air, charging a fee for its services.

“Our platform aggregates freight rates for more than 100,000 trade routes covering over 300 destinations,” said Hernández, who obtained a bachelor’s degree in business and an MBA from Barcelona’s ESADE business school and worked as a venture capital analyst before becoming a full-time freight forwarder.

The new service quickly caught on in Europe, and last year handled over 4,000 shipments globally, each of which involved anywhere from one container to more than a score.

In 2013, the company decided to set up a subsidiary in Miami, a major center for international trade in the Americas. Hernández came here to open iContainers USA, which now has eight employees. The home office in Barcelona has 25.

iContainers USA began operating in Miami in 2014 and is a fully licensed and bonded international freight forwarder. The company mainly offers “door to port service,” which means the company makes arrangements to pick up merchandise from the customer’s place of business, move it to PortMiami or Miami International Airport, and send it on to its destination. It also provides “door-to-door” service for some freight routes between two countries, and is expanding this service, Hernández said.

“This is a first step in developing our global platform that will allow companies to ship everywhere from everywhere,” he added.

iContainers works with large firms, small and mid-sized businesses (SMEs) and individuals. Once a customer books a shipment online, employees at the Miami office handle the details of arranging the shipment and keep the customer informed of the merchandise’s movements.

Aside from these duties, iContainers’ employees in Miami provide guidance to SMEs and to individuals who want to ship or receive goods but who may not be aware of the complex international import/export regulations, duties and other red tape.

iContainers USA is also sponsoring a series of international trade seminars and webinars. These events focus on how to optimize the logistics process in international trade and explain best practices developed by exporters and importers.

While iContainers was a pioneer in developing an online system like Kayak.com for freight, Hernández said that Google recently launched a website that “mimics iContainers’ platform,” and that a few other companies are following the same route.

“What we’re seeing is a ‘seed boom,’ where competitors were essentially waiting to see if iContainers’ concept and technology works,” Hernández said.

Despite looming competition, iContainers’ strategy is to continually improve its technology, enhance its platform and enlarge its network of shipping partners.

“The shipping industry has a long and rich history,” Hernández said. “Key players have been around for many decades and it’s essential to create an international network of partners who trust our service and believe in our ability to provide a full range of services, including door-to-door.”

One key element in iContainers’ strategy is to continue the company’s outreach to SMEs — a rapidly growing segment in international trade — as well to multinational companies, Hernández said.

“Through our efforts in communities and our events, we plan to educate businesses about the ease and affordability of going global,” he said.

2015
08/20

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

CIT Group Receives Consensus Rating of "Hold" from Brokerages (NYSE:CIT)

Shares of CIT Group (NYSE:CIT) have received a consensus recommendation of Hold from the thirteen analysts that are presently covering the stock, ARN reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $50.63.

CIT Group (NYSE:CIT) traded up 2.08% on Monday, hitting $47.04. 2,168,297 shares of the stock traded hands. The company has a market cap of $8.19 billion and a price-to-earnings ratio of 7.76. CIT Group has a 1-year low of $43.21 and a 1-year high of $49.98. The stock has a 50-day moving average price of $47.17 and a 200 day moving average price of $46.17.

CIT Group (NYSE:CIT) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.66 earnings per share for the quarter, meeting the Thomson Reuters consensus estimate of $0.66. During the same quarter in the prior year, the company posted $1.02 EPS. On average, analysts anticipate that CIT Group will post $2.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, August 12th.

Several equities research analysts recently commented on CIT shares. Zacks lowered shares of CIT Group from a hold rating to a sell rating in a report on Friday. Barclays lowered their price objective on shares of CIT Group from $47.00 to $46.00 and set an equal weight rating for the company in a research note on Wednesday. Oppenheimer restated an outperform rating and set a $54.00 price target on shares of CIT Group in a research note on Wednesday. Guggenheim downgraded shares of CIT Group from a buy rating to a neutral rating in a report on Wednesday. Finally, BTIG Research reissued a buy rating on shares of CIT Group in a report on Tuesday, July 28th.

CIT Group Inc. is a bank holding company (NYSE:CIT), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

2015
08/18

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

TRLPC: Antares’ $13.9B buyout loan includes jumbo asset-backed credit

NEW YORK, July 31 Antares Capital is in the
market with $13.9 billion of senior secured credit facilities
backing its sale to Canada Pension Plan Investment Board (CPPIB)
from General Electric Capital Corp, which include a jumbo $10.7
billion asset-backed loan.

The financing, which will also help fund the middle market
private equity lenders future growth, is backed by Antares
portfolio of term loans and revolving credits to US middle
market companies.

The secured financing stands out due to its size, and its
asset-backed structure, which allows Antares to diversify its
funding sources in the future by issuing a range of debt
instruments via the securitization and unsecured debt markets,
according to Fitch Ratings.

It is easy to get secured financing quickly from banks,
said Meghan Neenan, a senior director at Fitch, adding that the
execution makes sense in terms of economics and efficiency.

The structure of the deal resembles a warehouse facility
used for Collateralized Loan Obligation (CLO) funds to gather
assets, Neenan said. The ratings agency expects the deal to be
termed out by issuing a series of CLO funds over time.

Middle market lenders, which include specialty finance
companies and Business Development Companies (BDCs), often issue
CLOs as one of several vehicles they use to fund investments in
portfolio companies.

Antares previously used CLOs to fund investments but stopped
after its acquisition by GE Capital due to GEs lower funding
costs, Neenan said.

CPPIBs $12 billion acquisition of Chicago-based Antares
vaults Canadas largest pension fund into the top tier of US
middle market lenders and marks GE Capitals exit as the
dominant player in that space.

General Electric Co announced plans to divest the majority
of GE Capitals assets in April, including the Antares sponsor
finance business and its US commercial lending and leasing
unit, as it seeks to minimize exposure to its finance arm amid
increased regulatory scrutiny.

Credit Suisse declined to comment and CPPIB did not
immediately respond to a request for comment.

In market

Underwriters Credit Suisse, Deutsche Bank and Citigroup are
currently syndicating the deal, which is targeting investment
grade lenders due to Antares BBB rating from Fitch.

Sumitomo Mitsui Banking Corp and Scotiabank have also signed
on as co-arrangers and co-documentation agents, sources said.
The financing launched July 27 with commitments due by August
12.

The asset-backed loan is secured by Antares portfolio of
first-lien middle market term loans and the holding company loan
is backed by Antares portfolio of revolving credit loans,
sources said.

The $10.7 billion, seven-year asset-backed facility includes
a $3 billion asset-backed revolving credit and a $7.7 billion
asset-backed term loan. The asset-backed revolver pays 225bp
over Libor when drawn and 50bp when undrawn, sources said, and
is expected to be undrawn at closing. The $7.7 billion term loan
pays 225bp over Libor.

Its a great piece of paper for a bank buyer because the
loan is secured by a highly diversified portfolio of first-lien
loans, a banking source said.

The $7.7 billion term loan backs Antares existing portfolio
of term loans and the revolving credit can be drawn to help fund
new term loans in the future, the sources said.

The financing includes a $3.2 billion, five-year credit
facility at the holding company level, split between a $1.2
billion term loan A and a $2 billion revolving credit.

Pricing on the holding company loan is tied to a
ratings-based grid. Pricing on both tranches is 125bp over Libor
at the BBB rating level, higher at lower rating levels, said
sources. The $1.2 billion TLA will amortize at 5 percent in the
first year, 7.5 percent in the second, 10 percent in the third
and 12.5 percent in the last two years.

The $2 billion holding company revolving credit will fund
revolver draws by Antares portfolio companies, sources said.

I-grade rating

Fitch Ratings assigned a BBB expected long-term issuer
default rating and expected secured debt rating to Antares
Holdings (US LP) on July 27 with a stable outlook.

The expected ratings reflect Antares strong middle market
franchise and expansive sponsor relationships, which provide
access to ample dealflow, Fitch analysts said.

The ratings reflect Fitchs belief that Antares has a
lower-risk portfolio profile than other middle market lenders,
due to its focus on senior lending positions, lower portfolio
yields than lenders making riskier loans, low portfolio
concentrations, minimal exposure to equity investments and
strong asset quality.

Fitch said that Antares rating constraints include higher
leverage than its peers, a fully secured and relatively
undiversified funding profile, potential liquidity and leverage
impacts from portfolio companies drawing on revolving credits,
and the execution risk associated with the separation of Antares
from GE Capital.

The ratings also consider currently aggressive underwriting
conditions in the middle market lending space and the potential
for increased risk appetite as Antares expands its unitranche
lending offering, said Fitch.

CPPIB is contributing $3.85 billion in cash toward the
Antares acquisition, which Fitch said is a sizeable initial
equity investment and evidence of CPPIBs long-term strategic
plans for growth.

(Editing By Tessa Walsh and Jon Methven)

2015
08/14

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

Stock Update (NASDAQ:PSEC): Prospect Capital Corporation Provides Secured …

Prospect Capital Corporation (NASDAQ:PSEC) announced that Prospect in the June 2015 quarter provided a commitment to support the acquisition of Bay Area Addiction Research and Treatment (BAART) by an investment fund affiliated with Webster Capital Management, LLC. (Webster). Prospects secured financing is comprised of an initial term loan and additional commitments in the form of a delayed draw term loan and revolving credit facility.

Based in San Francisco and founded in 1977, BAART operates 22 outpatient opioid treatment service clinics in California, Arizona, Nebraska, North Carolina, and Vermont. BAARTs clinics provide methadone treatment and counseling services to assist patients with opioid addictions.

Webster selected Prospect based on Prospects willingness and ability to provide committed capital both to finance the initial acquisition of BAART and to provide incremental capital support for quality enhancement and future growth of the company, said David Malm, a Co-Managing Partner of Webster.

Prospect provided a creative multi-stage financing solution to assist Webster and BAART with accretive acquisition growth, said David Belzer, a Managing Director of Prospect Capital Management LP We look forward to continued strong performance at BAART, a company that provides a valuable service to people in need and addresses a growing opioid addiction epidemic in our country.

Prospect closed approximately $2.0 billion of new originations for the twelve months ended June 30, 2015. (Original Source)

Shares of Prospect Capital closed yesterday at $7.42. PSEC has a 1-year high of $11.05 and a 1-year low of $7.18. The stocks 50-day moving average is $7.67 and its 200-day moving average is $7.98.

On the ratings front, Prospect Capital has been the subject of a number of recent research reports. In a report released yesterday, Cantor Fitzgerald analyst David Chiaverini initiated coverage with a Hold rating on PSEC and a price target of $8, which represents a potential upside of 7.8% from where the stock is currently trading. Separately, on May 7, MLV amp; Co.s Christopher Nolan maintained a Buy rating on the stock and has a price target of $9.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Chiaverini and Christopher Nolan have a total average return of 10.6% and -2.5% respectively. Chiaverini has a success rate of 57.6% and is ranked #903 out of 3688 analysts, while Nolan has a success rate of 43.2% and is ranked #3121.

Prospect Capital Corporation is a closed-end investment company. It invests in senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.

2015
08/12

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

SunEdison Closes Financing and Starts Construction of a 110-Megawatt Solar …

SANTIAGO, Chile, July 28, 2015 /PRNewswire/ — SunEdison, Inc. (NYSE: SUNE), the worlds largest renewable energy development company, today announced that it has secured financing and started construction on the 110-megawatt (MW) DC Quilapilun solar power plant in the Metropolitan Region of Chile. Once completed, the power plant will be SunEdisons first solar project in Santiago and is expected to be its largest solar project in Latin America.

The energy produced by the solar plant is expected to be sold to the regulated market through long-term power purchase agreements with local electricity suppliers. The energy will supply the Sistema Interconectado Central (SIC) as part of the 570 gigawatt hour (GWh) contract awarded to SunEdison by the Chilean National Energy Commission in December, 2014.

This project is our first solar plant in the Metropolitan Region, and further advances our position as a renewable energy leader in Chile, stated Carlos Barrera, SunEdison vice president for Latin America. Solar energy has become cost competitive with other energy generation sources in the country. With solar, we are able to supply regulated market consumers with clean energy at lower prices than they pay now.

Concurrently, SunEdison closed a $160 million USD long-term, non-recourse debt financing arrangement for the project with CorpBanca, one of the largest commercial banks in Chile, and DNB, Norways largest financial services group. The financing will be used to fund the development, construction, and operation of the project.

Barrera added, SunEdison is pleased to have the support of two top financial institutions, CorpBanca and DNB, on this project. Our strong relationships with institutions like these will help us deliver cost effective solar energy as we grow the industry in Chile.

CorpBanca and DNB acted as mandated lead arrangers, underwriters and hedge providers of the project financing. CorpBanca, who is the administrative and onshore collateral agent, will also provide a Chilean Peso VAT facility.

CorpBanca is highly interested in supporting SunEdison, one of the most dynamic renewable energy companies in Chile, said Rodrigo Oyarzo, CorpBanca head of Corporate Banking. For more than two years CorpBanca has been leading the Chilean banking industry, providing financial services and innovative financing structures in the energy sector.

DNB is proud to finance SunEdisons growth plan in Latin America, commented Emilio Fabbrizzi, DNB head of Project Finance Latin America. We were able to offer competitive financing terms thanks to the bankable power purchase agreement SunEdison has in place.

The Quilapilun solar plant is expected to generate 242 GWh of electricity a year, enough to power 117,000 homes, and should eliminate the emission of more than 125,000 tons of carbon dioxide per year, the equivalent of removing 28,000 cars from Chilean roads.

SunEdison previously committed the Quilapilun project to the Call Right Project List for TerraForm Power, Inc.(Nasdaq: TERP), an owner and operator of clean energy power plants. TerraForm Power intends to acquire the power plant once it is operational. Interconnection of the 110-MW solar plant is scheduled for the first quarter of 2016.

Todays announcement underscores the important role our call rights with SunEdison play on TerraForm Powers growth strategy, said Carlos Domenech, Chief Executive Officer of TerraForm Power. This solar project more than doubles our footprint in the fast-growing Chilean solar market and provides significant value to our shareholders.

Once construction is complete, operation and maintenance of the power plant will be performed by SunEdison Services, which provides global 24/7 asset management, monitoring and reporting services.

About SunEdison
SunEdison is the worlds largest renewable energy development company and is transforming the way energy is generated, distributed, and owned around the globe. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the worlds largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdisons common stock is listed on the New York Stock Exchange under the symbol SUNE. To learn more visit www.sunedison.com.

AboutTerraForm Power
TerraForm Poweris a renewable energy leader that is changing how energy is generated, distributed and owned.TerraForm Powercreates value for its investors by owning and operating clean energy power plants. For more information aboutTerraForm Power, please visit:www.terraform.com.

About CorpBanca
CorpBanca is Chiles oldest operating private bank founded in 1871. Based in Chile, CorpBanca also participates in Colombia and Panama. It also has a branch in New York and a representative office in Madrid. Its total consolidated assets are US$33 billion approximately and the equity totaled US$3.3 billion. Focused on wholesale banking and individuals, CorpBanca offers universal bank products. Its remarkable performance in the past 18 years has allowed consolidating CorpBanca as the fourth largest private bank in Chile. In 2012 CorpBanca started the process of regionalization with the acquisition of two banks in Colombia, becoming the first Chilean bank to have banking subsidiaries abroad. For more information about CorpBanca please visit www.corpbanca.cl.

About DNB
DNB is Norways largest financial services group and one of the largest in the Nordic region. It employs over 11,000 people and has offices in New York, Houston, Santiago and Rio de Janeiro. DNB has deep knowledge in the energy sector and in power and renewables in Latin America; through its Santiago office DNB has financed over 2.4GW installed capacity in Chile, Peru, Panama and Uruguay. For more information about DNB please visit www.dnb.no.

Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements, including: the Quilapilun power plant is expected to be the largest SunEdison project in Latin America; the energy produced by the solar plant is expected to be sold to the regulated market through long-term power purchase agreements with local electricity suppliers; the Quilapilun solar plant is expected to generate 242 GWh of electricity a year, enough to power 117,000 homes, and should eliminate the emission of more than 125,000 tons of carbon dioxide per year, the equivalent of removing 28,000 cars from Chilean roads; TerraForm Power intends to acquire the power plant once it is operational and interconnected which is scheduled for the first quarter of 2016. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include changes in applicable regulatory requirements and incentives for production of solar power; and general business and economic conditions, including seasonality of the industry, and other risks described in SunEdisons filings with the United States Securities and Exchange Commission. These forward-looking statements represent SunEdisons judgment as of the date of this press release. SunEdison disclaims, however, any intent or obligation to update these forward-looking statements.

Logo- http://photos.prnewswire.com/prnh/20150203/173064LOGO

SOURCE SunEdison, Inc.

RELATED LINKS
http://www.sunedison.com

2015
08/12

Category:
Secured Financing

TAG:

COMMENTS:
Comments Closed

Scorpio Bulkers (SALT) Stock Gains on Earnings Beat

SALT mgmt has provided helpful disclosures related to the amount of secured financing available and equity in SALTs held-for-sale assets, Deutsche Bank analysts wrote. Those details, together with proceeds from Junes follow-on offering, provide SALT with plenty of cash to bridge to an upturn, in our view.

TheStreet Ratings team rates SCORPIO BULKERS as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

We rate SCORPIO BULKERS (SALT) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The companys weaknesses can be seen in multiple areas, such as its deteriorating net income, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: SALT Ratings Report

SALT data by YCharts