sparviero7000
Forumer storico
Ma raven russia com'è che è scesa così tanto??
Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa (1 Viewer)
Peco
Forumer storico
13 aprile 2018 - Aegon annuncia di esercitare il diritto di riscattare le obbligazioni subordinate non cumulative da 525 milioni di USD dell'8%. Il rimborso di questi titoli tier 2 di grandfather sarà effettivo il 15 maggio 2018, quando l'importo nominale complessivo di 525 milioni di USD sarà rimborsato insieme a tutti gli interessi maturati e non pagati. I titoli (codice ISIN: US0079246080, codice CUSIP 007924608) sono attualmente quotati alla Borsa di New York (simbolo AEK). La quotazione verrà chiusa in seguito al rimborso dei titoli.
Fabrib
Forumer storico
TA Recovered Attorneys’ Fees and Costs of $10.7 million.
TravelCenters of America LLC (Nasdaq: TA) today announced that, on April 9, 2018, the Court of Chancery of the State of Delaware entered its Final Order and Judgment (“Order”) for the Comdata litigation awarding TA attorneys’ fees and costs it incurred in the litigation. As previously announced, the Court issued an opinion on September 11, 2017 rejecting Comdata’s claims that TA had breached certain agreements that require Comdata to process customer transactions using Comdata cards at set fees through January 2, 2022. Pursuant to the Order, Comdata is required to continue to honor the terms of these agreements and, earlier today, Comdata reimbursed TA for attorneys’ fees and costs, together with interest, in the amount of approximately $10.7 million. Comdata has thirty days from the date of the Order to file a notice of appeal in this litigation.
TA is represented in this litigation by Ropes & Gray LLP (Jane E. Willis, Matthew L. McGinnis and C. Thomas Brown) and Skadden, Arps, Slate, Meagher & Flom LLP (Robert S. Saunders, Joseph O. Larkin and Jessica R. Kunz).
TravelCenters of America LLC (Nasdaq: TA) today announced that, on April 9, 2018, the Court of Chancery of the State of Delaware entered its Final Order and Judgment (“Order”) for the Comdata litigation awarding TA attorneys’ fees and costs it incurred in the litigation. As previously announced, the Court issued an opinion on September 11, 2017 rejecting Comdata’s claims that TA had breached certain agreements that require Comdata to process customer transactions using Comdata cards at set fees through January 2, 2022. Pursuant to the Order, Comdata is required to continue to honor the terms of these agreements and, earlier today, Comdata reimbursed TA for attorneys’ fees and costs, together with interest, in the amount of approximately $10.7 million. Comdata has thirty days from the date of the Order to file a notice of appeal in this litigation.
TA is represented in this litigation by Ropes & Gray LLP (Jane E. Willis, Matthew L. McGinnis and C. Thomas Brown) and Skadden, Arps, Slate, Meagher & Flom LLP (Robert S. Saunders, Joseph O. Larkin and Jessica R. Kunz).
NoWay
It's time to play the game
RIcevuto mail... condivido...
Regional Health Properties Reports Fourth Quarter and Full-Year 2017 Financial Results
Provides an update on strategic and operational initiatives
ATLANTA, GA, April 13, 2018- Regional Health Properties, Inc. (NYSE American: RHE) (NYSE American: RHEpA), a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care, today reported results for the three and 12 months ended December 31, 2017.
Business Update
"During the fourth quarter and subsequent to year end, we took decisive actions to stabilize our business and address legacy, non-operational challenges that continue to occupy too much of management's time," commented Brent Morrison, Regional Health Properties, Inc.'s Interim Chief Executive Officer. "Importantly, we secured new financing that provides refinance 'optionality' and additional liquidity to settle a number of the professional and general liability lawsuits."
Management periodically monitors a number of facility performance metrics, including rent coverages both before and after management fees. In the fourth quarter of 2017, the Company's portfolio rent coverage before management fees was 1.32x (as compared with 1.53x in the fourth quarter of 2016) and rent coverage after management fees was 0.93x (as compared with 1.12x in the fourth quarter of 2016). Occupancy and skilled mix for the Company's portfolio were 80.0% and 26.3% for the fourth quarter of 2017, respectively, compared to 82.6% and 23.1% for the fourth quarter of 2016, respectively.
Morrison continued, "Systematically addressing our cash position, debt maturities and legal liabilities clears the way for management and our operations team to focus on facility improvements that we have identified with our operators. Over the last several months, we have been more actively engaging with our operators, including in-person site visits by our newly created Asset Management Group, to develop actionable improvement plans that we believe will assist our operators with elevating facility-level performance and will increase the rent coverage ratios of our portfolio over time. We are encouraged by the progress we are making on all fronts despite the remaining legal hurdles that must be cleared."
Summary of Financial Results for the Three and 12 Months Ended December 31, 2017
Total revenues in the fourth quarter of 2017 were $6.4 million, up 6.2% from $6.0 million in the fourth quarter of 2016. Total revenues for the 12 months ended December 31, 2017, decreased by 8.9% to $25.1 million from $27.6 million for the 12 months ended December 31, 2016. The decrease reflects the sale in 2016 of nine skilled nursing facilities located in Arkansas, partially off-set by the acquisition in 2017 of an assisted living and memory care community located in Glencoe, Alabama known as the Meadowood facility. The Company generally recognizes all rental revenues on a straight-line rent accrual basis.
General and administrative costs decreased by $458,000, or 31.8%, to $981,000 for the three months ended December 31, 2017, compared with $1.4 million for the same period in 2016. For the three months ended December 31, 2017 and 2016, general and administrative costs include stock-based compensation expense, net of restricted stock and warrant forfeitures. General and administrative costs for the 12 months ended December 31, 2017 decreased by approximately $3.2 million, or 41.8%, to $4.5 million, compared with $7.7 million for the same period in 2016. For the 12 months ended December 31, 2017 and 2016, general and administrative costs include $0.3 million and $1.1 million, respectively, of stock-based compensation expense.
Interest expense decreased by $527,000, or 33.5%, to $1.0 million for the fourth quarter of 2017 compared with $1.6 million for the same period in 2016. Interest expense for the 12 months ended December 31, 2017, decreased by $3.1 million, or 42.7%, to $4.1 million compared with $7.1 million for the same period in 2016. The decrease is mainly due to the sale of the Arkansas facilities in 2016, partially off-set by the Meadowood facility acquisition in 2017.
Income from discontinued operations, net of tax for the fourth quarter of 2017 was $370,000 compared with a loss from discontinued operations, net of tax of $6.9 million for the prior year period. For the full year 2017, the loss from discontinued operations, net of tax, was $1.7 million compared with $13.4 million for the prior year period. Income in the three-month period ended December 31, 2017, was higher compared with the prior year period and the loss in the 12-month period ended December 31, 2017, was lower compared with the prior year period primarily due to a reduction to the Company's accrual on professional and general liability claims.
Net loss attributable to Regional Health Properties, Inc.'s common stockholders in the fourth quarter of 2017 was $1.2 million, or $0.06 per basic anddiluted share, compared with a net loss of $420,000, or $0.02 per basic and diluted share, for the fourth quarter of 2016. For the 12 months ended December 31, 2017, the net loss attributable to Regional Health Properties, Inc.'s common stockholders was $8.6 million, or $0.43 per basic and diluted share, compared with a net loss of $14.8 million, or $0.74 per basic and diluted share, in the prior year period.
Cash and cash equivalents at December 31, 2017, totaled $1.8 million compared with $14.0 million at December 31, 2016. Restricted cash and investments at December 31, 2017, totaled $3.5 million compared with $5.5 million at December 31, 2016. Total debt outstanding at December 31, 2017 totaled $73.1 million compared with $80.0 million at December 31, 2016 (net of $2.0 million and $2.2 million of deferred financing costs at December 31, 2017 and December 31, 2016, respectively).
Conference Call and Webcast
Regional Health Properties, Inc. will hold a conference call to provide a business update and discuss its fourth quarter and 12 months ended December 31, 2017 results at 4 p.m. ET on Monday, April 16, 2018.
Regional Health Properties Reports Fourth Quarter and Full-Year 2017 Financial Results
Provides an update on strategic and operational initiatives
ATLANTA, GA, April 13, 2018- Regional Health Properties, Inc. (NYSE American: RHE) (NYSE American: RHEpA), a self-managed healthcare real estate investment company that invests primarily in real estate purposed for senior living and long-term care, today reported results for the three and 12 months ended December 31, 2017.
Business Update
- Secured a new refinancing that was used to fund certain professional and general liability claims settlements and repay maturing convertible debt
- Making progress to significantly reduce the number of professional and general liability actions pending against the Company
- Appointed Kenneth W. Taylor as a director of the Company
- Created an Asset Management Group within in the Company to strengthen relationships with the Company's facility operating partners
"During the fourth quarter and subsequent to year end, we took decisive actions to stabilize our business and address legacy, non-operational challenges that continue to occupy too much of management's time," commented Brent Morrison, Regional Health Properties, Inc.'s Interim Chief Executive Officer. "Importantly, we secured new financing that provides refinance 'optionality' and additional liquidity to settle a number of the professional and general liability lawsuits."
Management periodically monitors a number of facility performance metrics, including rent coverages both before and after management fees. In the fourth quarter of 2017, the Company's portfolio rent coverage before management fees was 1.32x (as compared with 1.53x in the fourth quarter of 2016) and rent coverage after management fees was 0.93x (as compared with 1.12x in the fourth quarter of 2016). Occupancy and skilled mix for the Company's portfolio were 80.0% and 26.3% for the fourth quarter of 2017, respectively, compared to 82.6% and 23.1% for the fourth quarter of 2016, respectively.
Morrison continued, "Systematically addressing our cash position, debt maturities and legal liabilities clears the way for management and our operations team to focus on facility improvements that we have identified with our operators. Over the last several months, we have been more actively engaging with our operators, including in-person site visits by our newly created Asset Management Group, to develop actionable improvement plans that we believe will assist our operators with elevating facility-level performance and will increase the rent coverage ratios of our portfolio over time. We are encouraged by the progress we are making on all fronts despite the remaining legal hurdles that must be cleared."
Summary of Financial Results for the Three and 12 Months Ended December 31, 2017
Total revenues in the fourth quarter of 2017 were $6.4 million, up 6.2% from $6.0 million in the fourth quarter of 2016. Total revenues for the 12 months ended December 31, 2017, decreased by 8.9% to $25.1 million from $27.6 million for the 12 months ended December 31, 2016. The decrease reflects the sale in 2016 of nine skilled nursing facilities located in Arkansas, partially off-set by the acquisition in 2017 of an assisted living and memory care community located in Glencoe, Alabama known as the Meadowood facility. The Company generally recognizes all rental revenues on a straight-line rent accrual basis.
General and administrative costs decreased by $458,000, or 31.8%, to $981,000 for the three months ended December 31, 2017, compared with $1.4 million for the same period in 2016. For the three months ended December 31, 2017 and 2016, general and administrative costs include stock-based compensation expense, net of restricted stock and warrant forfeitures. General and administrative costs for the 12 months ended December 31, 2017 decreased by approximately $3.2 million, or 41.8%, to $4.5 million, compared with $7.7 million for the same period in 2016. For the 12 months ended December 31, 2017 and 2016, general and administrative costs include $0.3 million and $1.1 million, respectively, of stock-based compensation expense.
Interest expense decreased by $527,000, or 33.5%, to $1.0 million for the fourth quarter of 2017 compared with $1.6 million for the same period in 2016. Interest expense for the 12 months ended December 31, 2017, decreased by $3.1 million, or 42.7%, to $4.1 million compared with $7.1 million for the same period in 2016. The decrease is mainly due to the sale of the Arkansas facilities in 2016, partially off-set by the Meadowood facility acquisition in 2017.
Income from discontinued operations, net of tax for the fourth quarter of 2017 was $370,000 compared with a loss from discontinued operations, net of tax of $6.9 million for the prior year period. For the full year 2017, the loss from discontinued operations, net of tax, was $1.7 million compared with $13.4 million for the prior year period. Income in the three-month period ended December 31, 2017, was higher compared with the prior year period and the loss in the 12-month period ended December 31, 2017, was lower compared with the prior year period primarily due to a reduction to the Company's accrual on professional and general liability claims.
Net loss attributable to Regional Health Properties, Inc.'s common stockholders in the fourth quarter of 2017 was $1.2 million, or $0.06 per basic anddiluted share, compared with a net loss of $420,000, or $0.02 per basic and diluted share, for the fourth quarter of 2016. For the 12 months ended December 31, 2017, the net loss attributable to Regional Health Properties, Inc.'s common stockholders was $8.6 million, or $0.43 per basic and diluted share, compared with a net loss of $14.8 million, or $0.74 per basic and diluted share, in the prior year period.
Cash and cash equivalents at December 31, 2017, totaled $1.8 million compared with $14.0 million at December 31, 2016. Restricted cash and investments at December 31, 2017, totaled $3.5 million compared with $5.5 million at December 31, 2016. Total debt outstanding at December 31, 2017 totaled $73.1 million compared with $80.0 million at December 31, 2016 (net of $2.0 million and $2.2 million of deferred financing costs at December 31, 2017 and December 31, 2016, respectively).
Conference Call and Webcast
Regional Health Properties, Inc. will hold a conference call to provide a business update and discuss its fourth quarter and 12 months ended December 31, 2017 results at 4 p.m. ET on Monday, April 16, 2018.
- Date and time: Monday, April 16, 2018 at 4 p.m. ET_
- Dial-in number: 1-800-239-9838 (domestic) or 1-323-794-2551 (international)
- Please reference confirmation code: 1503425
- Replay number: Dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international). Please use passcode 1503425 to access the replay. The replay will be available until April 23, 2018.
- Webcast link: ViaVid Audio Event
Fabrib
Forumer storico
GREENWICH, Conn.--(BUSINESS WIRE)-- Eagle Point Credit Company Inc. (ECC) (the “Company”) (NYSE:ECC, NYSE:ECCA, NYSE:ECCB, NYSE:ECCZ, NYSE:ECCY) today announced that it has commenced an underwritten public offering of $50,000,000 aggregate principal amount of unsecured notes due 2028 (the “2028 Notes”). The 2028 Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof and are expected to pay interest quarterly. The terms of the 2028 Notes are to be determined by negotiations between the Company and the underwriters. The 2028 Notes are expected to be rated ‘A-’ by Egan-Jones Ratings Company. In addition, the Company plans to grant the underwriters a 30-day option to purchase up to an additional $7,500,000 aggregate principal amount of 2028 Notes to cover overallotments, if any.
The Company intends to use the net proceeds from the offering of the 2028 Notes to redeem the Company’s unsecured notes due 2020, which are redeemable upon 30 days’ notice, and if any net proceeds remain, to acquire investments in accordance with the Company’s investment objectives and strategies, to make distributions to the Company’s stockholders and for general working capital purposes.
Brutta botta.
The Company intends to use the net proceeds from the offering of the 2028 Notes to redeem the Company’s unsecured notes due 2020, which are redeemable upon 30 days’ notice, and if any net proceeds remain, to acquire investments in accordance with the Company’s investment objectives and strategies, to make distributions to the Company’s stockholders and for general working capital purposes.
Brutta botta.
NoWay
It's time to play the game
Joe Silver
Forumer storico
Ma qual'é la cedola della nuova emissione?
Fabrib
Forumer storico
Quella che dovrebbero richiamare (ECCA) paga il 7,75%, con la nuova usciranno più bassi.
Fabrib
Forumer storico
We always are on the hunt for new baby bonds for our short maturity-focused portfolios and OFS Capital (NASDAQ:OFS)has just issued one which we will be purchasing for the model portfolios, as well as for our personal holdings.
Baby bonds are exchange-traded debt issues that comprise all issues with less than a $1,000 face amount. In most cases, we are looking to buy $25/bond issues, since they provide the most liquidity.
Our best-performing portfolios, which are focused on shorter maturity term preferred and baby bond issues, are meant to give us a reasonable stream of income while avoiding substantial interest rate risk as we move through the current interest rate-hiking cycle. The Short/Medium Duration Income Portfolio, which has been in existence since late 2014, has performed excellently with an annual return near 7%. The Medium Duration Income with Zip Portfolio has performed even better with an annual return of near 8%, although only in existence since August 2015.
Both these model portfolios are designed to hold term preferred stocks and baby bonds with maturities of not more than seven years. This means that movements in interest rates do not affect these issues as much as “perpetual preferreds” and long-dated maturity baby bonds. The portfolios are not traded and are meant to be “low stress” portfolios for investors.
The new baby bond from OFS Capital has a coupon of 6.375% and has a maturity date in 2025. The company may redeem the bonds early beginning in 2020. While the coupon is not as high as we would like, the risk/reward seems reasonable to us at this time.
OFS Capital is a business development company (BDC) which has had a recent history of fairly solid net income. BDCs loan money to middle market companies at fairly high interest rates. Because of this, we advocate investments in BDC-related securities are best held during economic expansions and that investors should consider exiting if the economy is weakening.
Further details of this issue can be found here.
This issue is not yet trading but will be within the next couple of days under the ticker symbol OFSL.
Tim McPartland, il nostro mentore.
Baby bonds are exchange-traded debt issues that comprise all issues with less than a $1,000 face amount. In most cases, we are looking to buy $25/bond issues, since they provide the most liquidity.
Our best-performing portfolios, which are focused on shorter maturity term preferred and baby bond issues, are meant to give us a reasonable stream of income while avoiding substantial interest rate risk as we move through the current interest rate-hiking cycle. The Short/Medium Duration Income Portfolio, which has been in existence since late 2014, has performed excellently with an annual return near 7%. The Medium Duration Income with Zip Portfolio has performed even better with an annual return of near 8%, although only in existence since August 2015.
Both these model portfolios are designed to hold term preferred stocks and baby bonds with maturities of not more than seven years. This means that movements in interest rates do not affect these issues as much as “perpetual preferreds” and long-dated maturity baby bonds. The portfolios are not traded and are meant to be “low stress” portfolios for investors.
The new baby bond from OFS Capital has a coupon of 6.375% and has a maturity date in 2025. The company may redeem the bonds early beginning in 2020. While the coupon is not as high as we would like, the risk/reward seems reasonable to us at this time.
OFS Capital is a business development company (BDC) which has had a recent history of fairly solid net income. BDCs loan money to middle market companies at fairly high interest rates. Because of this, we advocate investments in BDC-related securities are best held during economic expansions and that investors should consider exiting if the economy is weakening.
Further details of this issue can be found here.
This issue is not yet trading but will be within the next couple of days under the ticker symbol OFSL.
Tim McPartland, il nostro mentore.
Fabrib
Forumer storico
Apr. 17, 2018 7:54 PM ET|About: Eagle Point Credit Company... (ECC)|By: Jason Aycock, SA News Editor
Eagle Point Credit (NYSE:ECC) has priced an offering of $60M in debt.
The company's offering that amount in 6.6875% notes due 2028. Underwriters have a 30-day option to buy up to $9M more in aggregate principal amount to cover overallotments.
Net proceeds of about $57.9M will be used to redeem unsecured notes due 2020, and any remaining will be used to acquire investments, make stockholder distributions and other working purposes.