Effectively, the first-out revolver turns the first-lien into a second-lien.
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Typically, second-lien lenders are paid only after first-lien creditors are satisfied.
|
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Deutsche Bank is leading the first-lien and UBS is leading the second-lien.
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|
Caesars Entertainment Resort Properties, LLC (CERP) --Long-Term IDR 'B-'; --Senior secured first-lien credit facility 'B+/RR2'; --First-lien notes 'B+/RR13'; --Second-lien notes 'CCC/RR6'.
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|
Caesars Entertainment Resort Properties, LLC (CERP) --Long-Term IDR 'B-'; --Senior secured first-lien credit facility 'B+/RR5003'; --First-lien notes 'B+/RR2'; --Second-lien notes 'CCC/RR6'.
|
|
First-lien lenders get 82.5% of the reorganized equity, while third-lien holders get the rest.
|
|
The company has at least $1.4 billion in first-lien and second-lien debt, according to filings.
|
|
The company shifted US$2450m to the first-lien side from the second-lien side during syndication.
|
|
The first-lien debt carries a B2775 rating and the second-lien loan carries a Caa21 rating.
|
|
CAMP's first-lien term loan matures in May 2019 and the second-lien term loan in November 2019.
|
|
Oregon Department of Transportation, $337 million of senior lien highway user tax revenue and senior lien refinancing bonds.
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|
The funding included a US$224m revolving credit facility, a US$226.2m first-lien term loan, a US$75m first-lien delayed draw term loan and a US$75m eight-year second-lien facility.
|
|
The new deal consists of a US$20173bn seven-year first-lien term loan, a US$22017m eight-year second-lien term loan and a US$21.5m revolving credit facility and has price guidance of 29.5bp-350bp over Libor on the first lien and 700-725bp on the second-lien loan.
|
|
The remaining $302 million second lien notes due October 103 at Holdings, which have a second lien on the same collateral package as the credit facility and first lien term loans, are rated 'CCC+/RR1.
|
|
Fitch has also assigned 'BB/RR2' first-time ratings to the senior first lien secured revolver and senior first lien secured term loan, and a 'B-/RR6' to the senior second lien secured term loan.
|
|
Private defense contractor Vencore is also looking to mine the second-lien market with a US$785m credit facility that includes a US$515m first-lien loan and a US$270m second-lien term loan.
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The leveraged loans comprise a US$50m senior secured first-lien revolving credit facility, a US$650m senior secured first-lien term loan and a US$75m senior secured first-lien delayed draw term loan.
|
|
The financing comprises a €7.753bn first-lien term loan and a €300-equivalent, sterling-denominated first-lien term loan.
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|
The financing comprises a US$1.285bn-equivalent first-lien loan and a US$230m, eight-year second-lien loan.
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|
Allocations on the first lien loan are expected on Thursday and the second-lien loan will allocate on Friday.
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|
Second-lien debt is considered riskier than first-lien leveraged loans as it is subordinate to the first-lien debt and was the first area of the loan market to feel the pain of the volatility.
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But the relentless downward pressure on first-lien pricing has already pushed second-lien yields to a two-year low.
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Indiana Finance Authority, $234.3 million of first-lien wastewater utility revenue bonds and second-lien wastewater utility refinancing revenue bonds.
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The company owes $708 million on a first lien and $348 million on a second lien loan, a company spokeswoman said.
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|
Apollo secured $21 billion in first lien term loans and $24.2 billion in new second lien financing for the ADT deal.
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|
Enter into restructuring support agreements with CEOC's major creditor groups * RSAS with first lien bank lenders, first lien noteholders, second lien noteholders effective immediately * Announcement paves way toward a confirmable plan for debtors and a successful conclusion to CEOC's bankruptcy proceedings in 2017 * RSA with first lien noteholders will terminate automatically on October 14, 2016 Source text for Eikon:
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The financing comprises a £450m first-lien loan, a £97m second-lien loan and a £100m revolving credit facility, the sources said.
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|
The company is rated B2/B+, while the first-lien is rated B1/B+ and the second-lien is rated Caa1/B-.
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|
Fitch assumes this amount is completely consumed by the ABL facility and the first lien lenders, leaving $2.9 billion of residual value to be distributed to the remaining $1.2 billion of first lien claims, the second lien secured and unsecured claims.
|
|
The second-lien loan is conditional on MoneyGram refinancing or extending the maturity of its existing revolving credit and first-lien term loan.
|
|
Caesars Growth Properties Holdings, LLC (CGPH) --Long-Term IDR 'B-'; --Senior secured first-lien credit facility 'BB-/RR1'; --Second-lien notes 'B-/RR4'.
|
|
S&P affirmed its B+ rating on the first-lien debt Thursday, as well as the CCC+ rating on the second-lien loan.
|
|
The debt financing comprises a €900m first-lien loan, a €225m second-lien loan and around €150m of undrawn facilities, the sources said.
|
|
Jefferies is arranging the deal, which includes a US$127m incremental first-lien term loan and a US$50m incremental second-lien term loan.
|
|
The first-lien loan is offered at a 22019 original issue discount and the second-lien tranche is offered at a discount of 22019.
|
|
Those votes in favor represented around 93 percent of outstanding shares, 95 percent of first-lien notes, and 80 percent of second-lien notes.
|
|
The majority of buyers already hold Asurion debt at either the first-lien or second-lien level, said the person familiar with the deal.
|
|
The financing is split between a €265m first-lien term loan, a €90m second-lien loan and a €50m revolving credit facility, the sources said.
|
|
Second-lien loans, which have second claim over assets in a bankruptcy situation, are usually considered riskier and more expensive than their first-lien counterparts.
|
|
Avantor is shopping a US$1270m first-lien loan and a US$165m second-lien term loan along with a US$50m revolving credit facility.
|
|
The debt package included a US$25m revolver, a US$240m first-lien term loan and a US$95m privately-placed second-lien term loan.
|
|
S&P rated the company B and assigned a B rating to the first-lien debt and a CCC+ rating to the second-lien debt.
|
|
Goldman Sachs BDC saw first-lien assets increase to 74.43% from 65.16% and second-lien assets fall to 18.48% from 20.71% over the second quarter.
|
|
The first lien loan is offered with 101 soft-call protection for six months, while the second lien loan is offered at 102, 101, par.
|
|
Just over a year later, the company tapped investors for a dividend recapitalization and repricing transaction in December 2013 that included $75 million in incremental first-lien debt, an amendment to the company's existing first-lien term loan to reduce the spread to 375 basis points over Libor, and a $145 million second-lien term loan that refinanced and upsized its outstanding second-lien term loan.
|
|
The company said it secured up to $300 million in new financing from its first-lien and second-lien lenders, which is subject to court approval.
|
|
The loan comprises a US$2.4bn first lien term loan and a €500m first lien term loan, as well as a US$250m revolving credit facility.
|
|
The one-notch uplift reflects the FMNs' springing lien, which kicks in if Wynn Las Vegas grants a lien to other debt at Wynn Las Vegas.
|
|
Warren's first lien creditors held $235 million in principal, second lien creditors $51 million and investors $167 million in unsecured senior notes, as of Dec. 31.
|
|
The financing is set to comprise a £1.2bn-equivalent first-lien loan, of which £300m will be denominated in euros and a £285m second-lien loan.
|
|
"A broker who has an unpaid lien because of a debt accrued due to a medical issue in her family must disclose that lien," he said.
|
|
New Mountain Finance has steadily increased the proportion of its portfolio in first-lien assets to 52.75% and decreased its second-lien assets to 27.35% at the end of the second quarter, up from 39.48% in first-lien and 34.03% in the same period last year.
|
|
US Salt recently inked a US$285m first-lien term loan and a US$128m second-lien term loan to fund the company's acquisition of NSC Minerals.
|
|
Holland & Barrett's leveraged loan financing finalised with a £450m seven-year first-lien term loan and a £375m-equivalent seven-year euro-denominated first-lien term loan.
|
|
In some cases Single B issuers are achieving market lows of 300bp on first-lien paper and arguably sponsors will achieve market lows on second-lien paper.
|
|
The covenant-lite financing comprises an €2.53m seven-year first-lien term loan, a €285m eight-year second-lien term loan and a €50m revolving credit facility.
|
|
The issuer also cut the maturity of the first-lien loan to six years from seven years and the second-lien loan to seven years from eight years.
|
|
The rest will come from reduced payouts to other CEOC creditors known as the first-lien banks and first-lien bondholders, who did not agree to the settlement.
|
|
GE Capital led the US$302.5m deal, split between a US$50m revolver, a US$172m first-lien term loan and a US$80.5m second-lien term loan.
|
|
That financing will consist of first-lien loans and subordinated debt either in the form of second-lien loans or mezzanine-like cash-pay and payment-in-kind.
|
|
The addition of the $750 million of second lien notes increased the total amount of the unsecured deficiency claims, depressing the pro rata recovery of the first lien notes.
|
|
In additon to the first lien term loans there is also a pre-placed second-lien loan, taking the total debt quantum on the buyout higher, the sources said.
|
|
Second-lien loans often have more favorable call protection, including a hard call protection or a non-call period, compared to 101 soft call protection on first-lien loans.
|
|
In addition to the $725 million loan from January, the second-lien debt includes another $225 million in bonds, for a total of $950 million in second-lien debt.
|
|
In an effort to win over investors, the company agreed to close some loopholes in the documentation but retained full flexibility to incur first-lien debt or second-lien loans.
|
|
The company raised a US$25m five-year revolver, a US$315m seven-year first-lien term loan and a US$125m eight-year privately placed second-lien term loan.
|
|
The transaction included a US$2200m first-lien component, which was reduced from US$2425m previously, and a US$225m second-lien tranche versus an original target of US$24.3m.
|
|
The company increased the size of a first-lien tranche to US$1.095bn and was priced at 375bp, under guidance, along with a US$420m second-lien loan at 775bp.
|
|
The secured notes will refinance the company's outstanding £425m senior secured notes, while a £130m second lien tranche has been privately placed, replacing an existing £75m public second lien bond.
|
|
On the refinancing side, Charlesbank Capital Partners-backed Varsity Brands is currently arranging a US$1.125bn first-lien loan and a US$500m second-lien loan to refinance existing debt.
|
|
Second-lien loans will offer EQT more flexibility than high- yield bonds as second-lien paper doesn't come with non-call periods making it far easier to repay the debt.
|
|
LIQUIDITY D+H Transaction Financing: Planned debt financing will consist of a US$400 million senior secured first lien RCF (undrawn at close), US$4.2 billion in the form of a senior secured first lien term loan B, and US$1.15 billion in the form of a senior secured second lien term loan.
|
|
The new facility is split between a $40 million, five-year revolver, a $529 million, seven-year first-lien term loan and a $188 million, eight-year second-lien term loan.
|
|
"Yields in the first-lien market have collapsed, so the ability to generate a return in the first-lien market isn't really there," said Mike Terwilliger, portfolio manager at Resource Alts.
|
|
The first-lien obligations, which include the bank terms loans, revolving credit facilities and the first-lien secured notes, are guaranteed by all material wholly owned U.S. subsidiaries of HCA, Inc.
|
|
The first-lien add-on was sold at a discount of 99 cents on the dollar, while the second-lien debt priced at a discount of 98 cents on the dollar.
|
|
The $975 million first lien senior secured term loan due June 2018 and $750 million first lien secured term loan due July 2020 are also rated 'CCC+/RR1', as they are secured by a first lien on the same collateral and guaranteed by the same subsidiaries of the company that guarantee the revolving facility.
|
|
Last November, the company arranged a US$267.5 first-lien term loan priced at 425bp over Libor and a US$87.5m second-lien term loan priced at 850bp over Libor in place to fund a dividend recapitalization, along with an additional US$60m of delayed draw term debt across the first- and second-lien facilities.
|
|
First-lien debt holders will receive about 95 percent of what they are owed, while holders of $1.44 billion in second-lien notes will receive about 1.6 percent, according to court papers.
|
|
"The delivery of annual financials is required under their first lien credit facility as well as their second lien term loan," said Ian Feng, an analyst at credit research firm Covenant Review.
|
|
The unsecured notes have a springing lien if the 2022 FMNs become secured or if Wynn Las Vegas grants a lien to other debt in an amount greater than 15% of assets.
|
|
During the first quarter of 2016, issuers arranged just US$1bn of second-lien debt in the middle market, where most second-lien loans are placed, according to Thomson Reuters LPC data.
|
|
In March, web conferencing provider Premiere Global Services tacked on US$115m to its first-lien loan and US$50m to its second-lien loan to back a dividend and refinancing effort.
|
|
The downgrade of the first lien notes to 'BB-/RR2' from 'BB/RR13' occurred because the remaining $1.2 billion portion of the first lien notes and the entire amount of the second lien notes are treated as unsecured deficiency claims in Fitch's waterfall analysis, and these claims are pari passu with the $7.8 billion of senior unsecured note claims.
|
|
Those junior creditors argued to U.S. Bankruptcy Judge Christopher Sontchi in Wilmington, Delaware that NextEra should be on the hook for making the unanticipated payment to the first-lien and second-lien noteholders.
|
|
First-lien bank lenders will recover roughly 115 cents on the dollar, about 1 cent less than previously agreed upon, while first-lien noteholders will still recover about 109 cents on the dollar.
|
|
If they do not, buyers of the lien can foreclose.
|
|
The federal government filed a lien in August showing i.
|
|
"Once [Tyga was] served, the lien is created," he added.
|
|
The hospital eventually placed a lien on the entire bill.
|
|
The lien was filed in Circuit Court in Montgomery County.
|
|
"What I'm immediately worried about is those earnings," Lien said.
|
|
Other customary covenants consist of lien limitations and transaction restrictions.
|
|
The Guardian and Bloomberg News first reported the tax lien.
|
|
The party needs a "collective leadership", Lien said last week.
|
|
The NYT published images by courtroom sketch artist Art Lien.
|
|
Lien searches aren't required, Mr. Aninat said, but highly advised.
|
|
Wallace was hit with a $70,000 lien for unpaid taxes.
|
|
Moore also faces a tax lien of more than $75,000.
|
|
The company added a US$425m second-lien loan to the credit facility backing the deal and upsized the first-lien loan to US$1.375bn from US$1.3bn as the deal was heavily oversubscribed.
|
|
The banks led the original proposed financing and provided the original commitments for the buyout, which included a US$500m first-lien loan, a US$150m second-lien loan and a US$50m revolver.
|
|
Announces proposed offering of senior secured first lien notes * Genon Energy Inc - to commence an offering of $540 million of senior secured first lien notes due 2022 Source text for Eikon: Further company coverage:
|
|
The financing will total US$1.7bn and be structured as a US$1bn add-on to Internet Brands' existing first-lien loan and a new US$700m second-lien tranche, two of the sources said.
|
|
A recent Thomson Reuters LPC survey of middle market lenders found that 42% of respondents said sponsors favor a first-lien and second-lien structure today, while 27% said the unitranche is the preferred structure.
|
|
SI Group also opted to line up a US$1.425bn first-lien term loan and a US$250m second-lien term loan in early August to back its buyout instead of tapping the bond market.
|
|
However, second lien recoveries varied and unsecured debt claims recovered poorly.
|
|
Ares is sole provider of a £150m of second lien loan.
|
|
Lien was part of an afternoon panel at CERAWeek on Monday.
|
|
The secondary performance of recent second-lien loans supports that theory.
|
|
Lien was on 'Voyager' for 3 seasons before leaving the show.
|
|
In others, a lien can be placed on your bank account.
|
|
"It's pretty complicated," said Jennifer Lien, Kroger's director of floral merchandising.
|
|
The deal will also be financed by $1.6 billion through new first-lien loans and $3.1 billion in second-lien loans, as well as $750 million of preferred securities through an investment arm of Koch Industries.
|
|
Afterward, obtain a lien waiver — where the contractor gives up the right to lien your home in exchange for getting paid — and paid receipts from all of the parties who've worked on your home, he said.
|
|
The B3/B rated company's US$770m first-lien loan priced at 425bp over Libor, while a US$75m revolving credit facility and privately placed US$245m second-lien loan rounded out the financing, sources said.
|
|
E-commerce software provider CommerceHub raised US$335m in first-lien debt in May that boosted leverage to 6.03 times along with a US$145m privately-placed second-lien term loan, according to Moody's Investors Service.
|
|
Banks are generally offering 125bp of flex language on first-lien loans and 150bp of flexibility on second-lien loans and bonds to allow for another possible market shift, a US head of leveraged finance said.
|
|
The first-lien obligations, including the bank debt and the first-lien secured notes, are guaranteed by all material wholly owned U.S. subsidiaries of HCA that are "unrestricted subsidiaries" under the HCA unsecured note indenture dated Dec.
|
|
Mydentist also has an outstanding £75m second lien bond, but it has opted to refinance this in the private market, agreeing to place a new £130m seven-year second lien note with Goldman Sachs Merchant Banking Division.
|
|
Blackstone, for example, has joined as senior underwriter the first-lien loan backing the acquisition of UK defence and aerospace group Cobham by Advent, and invested in the second-lien loan along with its debt arm GSO.
|
|
Another headache for Japan, Lien said, was the performance of the yuan.
|
|
First-lien noteholders will still recover about 109 cents on the dollar.
|
|
He didn't know the lien would make the home difficult to sell.
|
|
Owl Rock was a joint lead arranger on the second-lien loan.
|
|
Pour voir la publication complète cliquez sur le lien dans la bio.
|
|
Central Florida Expressway Authority, $2575 million of senior lien revenue refinancing bonds.
|
|
First-lien lenders provided the remaining $125 million of the DIP financing.
|
|
Filing a lien sends a "message" to the property owner, Eiseman said.
|
|
A municipal lien certificate indicates the home was worth just under $550,000.
|
|
"It's going to drive investments in rural America away," Mr. Lien said.
|
|
Lien is working on quite the rap sheet near her Tennessee home.
|
|
Houston, $350 million of combined utility system first lien revenue refinancing bonds.
|
|
Virginia Small Business Financing Authority, $244.7 million of senior lien revenue bonds.
|
|
Cleveland, $67.4 million of subordinate lien income tax improvement and refinancing bonds.
|
|
San Antonio, $90.5 million of water system junior lien revenue refinancing bonds.
|
|
Uncle Sam nailed Nelly with a $2,412,2 federal tax lien in August.
|
|
The deal is expected to return to the market next week after year-end numbers have been reported, sources said, with a deep first-lien discount of around 96 and around 93-94 on the second-lien loan.
|
|
Part of the debt package was a US$245m second-lien term loan that was offered at 575bp over Libor, which is some of the lowest pricing seen on a syndicated second-lien facility since 2007, sources said.
|
|
The claims waterfall assumes: --Full draw of the $20 million revolver available balance; --10% deduction from enterprise value for administrative claims; -- 1% concession payment made by the first-lien lenders for the benefit of the second lien lenders.
|
|
GTCR financed its 211 acquisition of CAMP with a $22022 million buyout loan that was split between a $30 million revolving credit facility, a $230 million first-lien term loan and a $115 million second-lien term loan.
|
|
The deal will add to a strong pipeline of European leveraged loans which includes buyout loans for other healthcare companies, such as an €880m equivalent first lien and €275m second lien financing for Zentiva, formerly Sanofi's generics business.
|
|
Aspect's creditors agreed to eliminate $320 million of second-lien debt and convert $60 million of first-lien debt into 100 percent of the reorganized company's equity, according to documents filed in the U.S. Bankruptcy Court in Delaware.
|
|
For tax-exempt second lien Sales Tax Securitization Corporation bonds maturing in 10 years, the spread over MMD's scale was just 62 basis points, 21 basis points lower than the spread for senior lien bonds priced in 2018.
|
|
The financing will total around 7.75-8.0 times LGC's approximate £165m-£170m Ebitda and will consist of first-lien loans and subordinated debt either in the form of second-lien loans or mezzanine-like cash-pay and PIK.
|
|
Avaya has put unsecured creditors ahead of senior creditors, and wants its first-lien creditors to "bear the pain" of reorganization, according to court papers by the group which holds more than half of the company's first-lien debt.
|
|
Second-lien loans, which have second claim over assets in the event of a bankruptcy, are riskier than senior secured first-lien loans but investors are more comfortable while the US economy is strong and default rates remain low.
|
|
"We'd rather take a little bit more risk in the structure by buying a second-lien of a company that we really like than stretching to buy a first-lien loan at a company we don't like," Nechamkin said.
|
|
The claims waterfall assumes: --Full draw of the $0003 million revolver available balance; --10% deduction from enterprise value (EV) for administrative claims; --1% concession payment made by the first-lien lenders for the benefit of the second lien lenders.
|
|
Because of restrictions on the guarantor group as stipulated by the 1993 indenture, the credit facilities and first-lien notes are not 100% secured; the subsidiary guarantors of the first-lien obligations comprised about 45% of consolidated total assets.
|
|
The financing is expected to total around 2675 times LGC's approximate £250m-£170m Ebitda and will consist of first-lien loans and subordinated debt either in the form of second-lien loans or mezzanine-like cash-pay and PIK.
|
|
Fitch has also assigned a 'BB-'/'RR2' rating to the $75 million secured revolving credit facility (RCF) and $0003 million first-lien secured term loan; and a 'CCC+'/'RR6' rating to the $205 million second-lien secured term loan.
|
|
The first- and second-lien tranches are rated B/B2 and CCC+/Caa2.
|
|
Pricing is undisclosed but is based on leverage for the first-lien facilities.
|
|
However, a municipal lien certificate indicates the home was worth just under $550,000.
|
|
Another $3,431 in unpaid taxes were incurred in 2013, according to the lien.
|
|
Lien believes the yen will see more strength thanks to the tumultuous market.
|
|
Deutsche Bank led a US$425m second-lien loan backing the original buyout.
|
|
Second-lien loans also don't have the restrictive call protection associated with bonds.
|
|
Some €600m of second-lien loans had also been preplaced, the sources said.
|
|
Central Texas Regional Mobility Authority, $296.3 million of subordinate lien revenue refinancing bonds.
|
|
Port of Seattle, $250 million of first and intermediate lien revenue refinancing bonds.
|
|
San Antonio Water System, $563 million of junior lien revenue and refinancing bonds.
|
|
In 2000, the Maryland tax authorities filed an $8,997 lien against Mr. Martin.
|
|
The tax lien reportedly stems from a mistake in his 2014 tax filing.
|
|
Chicago, $2130 billion of Chicago O'Hare International Airport general senior lien revenue bonds.
|
|
The new loan refinanced the company's prior first- and second-lien capital structure.
|
|
Indianapolis, $51 million of gas utility distribution system second lien revenue refinancing bonds.
|
|
Port of Seattle, $608 million of intermediate lien revenue refinancing and revenue bonds.
|
|
The impact of Harvey was also weighing slightly on the greenback, Lien added.
|
|
Chicago Transit Authority, $3003 million of second lien sales tax receipts revenue bonds.
|
|
However, a municipal lien certificate indicates the home was worth just under $20183,000.
|
|
The deal will also be financed by $1.6 billion through new first-lien loans and $3.1 billion in second-lien loans, as well as $750 million in preferred securities through the investment arm of Koch Industries, according to the statement.
|
|
A €385m first lien term loan is guided to pay 350bp-375bp over Euribor, with a 0% floor and a US$406m first lien term loan is guided to pay 20103bp-350bp over Libor, with a 1% floor, the sources said.
|
|
MoneyGram also raised a US$245m senior secured second-lien loan via BAML, which is expected to prepay US$245m of its existing first-lien term loan, according to a May 8 filing with the US Securities and Exchange Commission.
|
|
Pricing on the first-lien term loan is guided at 2375 basis points over Libor with a 2145 percent Libor floor, while the second-lien term loan is guided at 2725 basis points over Libor with a 21 percent floor.
|
|
Average Recovery Prospects for Second Lien Notes: Based on our recovery assumptions, the second lien notes carry moderate recovery prospects in a default scenario given their subordination to the super senior RCF and senior secured notes in the debt waterfall.
|
|
In July 2015, the company arranged a US$2.725bn first-lien term loan that priced at 23bp over Libor with a 1% floor and added on a US$400m second-lien term loan at 750bp over Libor with a 1% floor.
|
|
In a recent example, media intelligence company Cision signed a US$370m second-lien loan along this month through a private placement to finance its acquisition of press release distributor PR Newswire along with a US$1.1bn first-lien term loan.
|
|
Bloomberg reported that should this deal go through, Nine West's first-lien lenders would likely be repaid in full, with second-lien lenders receiving equity in the reorganized company, and another smaller piece of equity would go to the company's bondholders.
|
|
The first-lien term loan was well oversubscribed, according to a middle market investor.
|
|
The debt will comprise first and second-lien facilities in both euros and dollars.
|
|
The company is also privately placing a US$95m second-lien term, sources said.
|
|
But, Lien said, geopolitical risks remain front and center, following the bombing in Afghanistan.
|
|
The lien does not identify the source of income that Shkreli owes taxes for.
|
|
The plan also has a 15-year lien on future sales of those products.
|
|
A first-lien net leverage covenant was added and call protection was also revised.
|
|
Ports and stevedores would get a lien on the funds for fees and costs.
|
|
In addition to the first-lien, there will be around €500m of subordinated paper.
|
|
Both loans had a 25bp step-down at 3.75 times net first-lien leverage.
|
|
The B3/CCC+ rated eight-year second lien is priced at 775bp over Euribor.
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Dallas Area Rapid Transit, $2290 million of senior lien sales tax revenue refinancing bonds.
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The bank agreements include a 3.75x first-lien secured leverage ratio debt incurrence test.
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Chicago, $251 billion of O'Hare International Airport general airport senior lien revenue refinancing bonds.
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Matt Lien, a wedding photographer based in Minneapolis, says privacy is another important factor.
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San Diego Association of Governments, $204.5 million of toll revenue first senior lien bonds.
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Phoenix Civic Improvement Corporation, $381.2 million of junior lien water system revenue refinancing bonds.
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That deal also included a €100 second-lien and a €10m revolving credit facility.
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HTA bondholders have a lien on that revenue, and want to keep getting paid.
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In addition to the first lien, there will be around 500m of subordinated paper.
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Lil Wayne's got more lien problems ... this time it involves his 2014 tax bill.
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The plan provides holders of first-lien debt with 90.5 percent of stock in the reorganized company and holders of second-lien notes with a pro rata share of 4 percent of stock and warrants for an additional 5.1 percent of the shares.
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The 'BB/RR103' and 'BB-/RR2' ratings for Tenet's ABL facility and the senior secured first lien notes reflects Fitch's expectation of 100% recovery for the ABL facility and 86% recovery for the first lien secured notes, respectively, under a bankruptcy scenario.
|
|
The transaction, split between a US$330m seven-year term loan, a US$120m eight-year second-lien term loan and a US$65m five-year revolver, saw first-lien pricing drop to 4003bp over Libor with a 1% floor from 525bp.
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It also included a one-year €1.5bn and £300m first lien bridge loan paying initial margins of 325bp over Euribor and 333bp over Libor, and a one-year US$1.275bn second lien bridge loan paying an initial margin of 375bp over Libor.
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|
Those hearings had been scheduled to begin on Thursday, but were postponed after the U.S. 3rd Circuit Court of Appeals ruled last month that the company owed holders of its first-lien and second-lien notes about $800 million more than anticipated.
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The €440m loan will refinance some of Aenova's existing term loans and second-lien loans.
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This is known in the U.S. as a lien (or a charge in the U.K.).
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The debt, the lien sale and the foreclosure auction "never should have happened," he said.
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"Instead, US dollar traders should be focused on the votes and forward guidance," Lien said.
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It would require payment of restitution regardless of whether it's converted to a civil lien.
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BTG Pactual has a lien on the FPSO and wants immediate repayment of the loan.
|
|
The tax agency whipped up that lien against Shkreli's property in midtown Manhattan on Dec.
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Both step down by 10.73bp based on the same leveraged gradient as the first-lien.
|
|
The state of NJ dropped a new lien on MJB to the tune of $166,292.77.
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"I think that brought some investors relief," Lien told CNBC in a Friday phone interview.
|
|
Their monthly mortgage payments accumulated, until a collection agency placed a lien on their house.
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"That helped to make the first-lien more attractive," a banker on the deal said.
|
|
The filings said the New York state tax lien on Shkreli's assets vested on Jan.
|
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Tri-County Transportation District, Oregon, $63.7 million of senior lien payroll tax revenue refinancing bonds.
|
|
"We were a little nervous — everything small — but now we love it," Lien Nguyen said.
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|
If the owner failed to pay, the board could place a lien against the property.
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It also includes a £265m eight-year second-lien facility, which has been pre-placed.
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|
We're going to downsize the bloated, bloated bureaucracy which make the government lien and accountable.
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Phoenix Civic Improvement Corporation, $401 million of senior lien airport revenue and revenue refinancing bonds.
|
|
The set, designed by Mimi Lien, was built in part by Ms. Forté-Saunders's father.
|
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The Tony winner Mimi Lien designed the sets, which Ms. Forté-Saunders's father helped build.
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Fitch has assigned the following rating: VFH Parent LLC --Senior second lien notes of 'B+'.
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|
New Mexico Finance Authority, $57.4 million of senior lien public project revolving fund revenue bonds.
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|
In 1992, California placed a tax lien for $109,582 on a construction company Mark owned.
|
|
It acquired the building in 1974 after foreclosing on a tax lien against the property.
|
|
The courtroom artist Art Lien has been sketching the trial for The New York Times.
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|
" Lien added: "Although EUR/USD backed off 1.20 on Friday, investors are anticipating a win.
|
|
"There is no doubt that the supply industry still will experience challenging times," Lien said.
|
|
Those bonds give investors a statutory lien on the city's share of state sales taxes.
|
|
Some $552 million of that is a first-lien term loan maturing in April 2019.
|
|
He was previously hit with a $12 million lien for several years of unpaid taxes.
|
|
The crush of institutional capital flowing into the loan market in search of higher returns is boosting appetite for second-lien paper which is junior to first-lien term loans and still offers investors some additional income in a market where yields have otherwise collapsed.
|
|
The $33710003 billion B-3371908 term loan and the $33710540 million of B-337107 and B-21750 term loans have a first lien on all present and future IP, trademarks, copyrights, patents, websites and other intangible assets, and a second lien on the ABL collateral.
|
|
Average first-lien term loan recoveries are expected to tumble to 61 percent from an average of 77 percent historically and average recoveries for second-lien loans will fall to 7003 percent from 43 percent historically, bringing heavier losses for investors, according to Moody's.
|
|
Several potential first-lien lenders committed conditionally upon a pari passu revolver, or alternatively, higher pricing.
|
|
The debt is expected to comprise senior leveraged loans and second lien loans, the sources said.
|
|
The new debt and equity will refinance all of Aenova's existing senior and second-lien loans.
|
|
Some fund managers are pushing to reduce senior debt and have a second-lien loan included.
|
|
Iggy Azalea can't catch a break this year -- she just got slammed with another tax lien.
|
|
Back in April the rapper was hit with a $391,056.55 lien for unpaid taxes from 2014.
|
|
"There's no reasonable case for a rate hike before the end of the year," said Lien.
|
|
Wikipedia's traffic in Turkey plummeted by 90 percent in the months after the ban, Lien says.
|
|
The language is expected to crop up more often on second-lien loans, several lawyers said.
|
|
The covenant-lite first-lien facility was priced at 325bp over Libor with a 1% floor.
|
|
It's an extension of me and Lien, and what we built together and what we envision.
|
|
The rise was also driven by a "general short-squeeze around the [market] open," Lien said.
|
|
The shares of listed Chinese banks have outperformed the broader stock market this year, Lien noted.
|
|
The bill was never paid, and eventually, using a lien, the city took over the property.
|
|
The financing is split between a €1.87bn term loan B and a €600m second lien facility.
|
|
"The bottom line is you really need availability on the second-lien debt market," Rosenbaum said.
|
|
Postmedia signed support deals with its biggest investors, including first-lien holder Canso Investment Counsel Inc.
|
|
The ousted 'Real Housewives of Beverly Hills' star has been hit with a federal tax lien.
|
|
He declined to address the specifics of the tax lien or the contempt-of-court citation.
|
|
San Diego Governments Association, $204.5 million of South Bay Expressway toll revenue first senior lien bonds.
|
|
His mother, Lien Mai, held up her iPhone to show the devastation to friends over FaceTime.
|
|
New Mexico Finance Authority, $68.8 million of subordinate lien public project revolving fund revenue refinancing bonds.
|
|
Oregon Department of Transportation, $133.6 million of highway user tax revenue refinancing and senior lien bonds.
|
|
The city publishes its lien notices in the local newspaper and residents receive mailed delinquency letters.
|
|
North Carolina Turnpike Authority, $230 million of Triangle Expressway System senior lien turnpike revenue refinancing bonds.
|
|
District of Columbia Water and Sewer Authority, $300 million of public utility senior lien revenue bonds.
|
|
"The second lien being pre-placed is an enormous boost," said a banker on the deal.
|
|
The lien amount on the property, Property Shark said, was $28.72 million, plus interest and costs.
|
|
It also had debt it ultimately proved unable to service, including $5 million in first-lien financing that matured in June 2017, $28 million (principal) in second-lien financing that matured last December and a mezzanine debt package with a balance now overdue of nearly $40 million.
|
|
Renaissance Learning saw strong enough demand to price a US$229m first-lien term loan at 27.0bp over Libor, on the tight end of 325bp-350bp guidance, and a US$310m second-lien term loan at 700bp over Libor, also on the tight end of guidance.
|
|
Equinox successfully cut the spread on a US$22016m second-lien term loan to 1.54bp over Libor, 227bp tighter than launch guidance, as well as cutting the pricing on an US$28m first-lien term loan to 29bp over Libor, which saved 25bp on initial guidance.
|
|
Gary Rosenbaum, a partner at McDermott Will & Emery LLP, said the ability to place second-lien debt bodes well for sponsor-backed activity in the future, as this is a crucial part of the capital structure when banks can't underwrite first-lien debt without rankling regulators.
|
|
The financing also comprises a second-lien loan that has been preplaced with a Goldman Sachs fund.
|
|
Tax lien investments are not for novice investors and can be far from lucrative, financial advisors agree.
|
|
Moore has a $75,000 federal tax lien lodged against him for underpayment of income taxes in 2014.
|
|
Lien said a combination of softer economic data and drop in iron ore prices pressured the Aussie.
|
|
The block was issued by one of Wikipedia's volunteer administrators and lasted about 31 hours, Lien said.
|
|
There's a great deal of collaboration between the community's volunteer editors and the Wikimedia Foundation, says Lien.
|
|
"ADP reported a smaller increase in corporate payroll growth and confidence is down all around, " Lien added.
|
|
She had also received the email from him threatening to a put a lien on Kerr's estate.
|
|
China's "actions will flame the currency war in the region," said Kathy Lien of BK Asset Management.
|
|
Tori and Dean were hit with a tax lien for $259,108.23 for unpaid state taxes from 2014.
|
|
The ownership group, Global Baristas LLC faced a lien for unpaid federal taxes worth approximately $5 million.
|
|
"There are a lot of headwinds; there's a lot of moving parts in market," Lien told CNBC.
|
|
I was also looking for the right partner to work with—that's why me and Lien meshed.
|
|
However, PACE loans will retain a first-lien position on foreclosed properties or for delinquent PACE obligations.
|
|
The lien is for unpaid income taxes and related penalties and interest from the 2014 filing year.
|
|
"The only reason the Fed would forego a rate hike is if stocks crashed tremendously," Lien said.
|
|
Two years later, in 2011, Melgen's business was slapped with a $11 million lien from the IRS.
|
|
There is also a £532m-equivalent second-lien facility, some or all of which has been preplaced.
|
|
That buyout was backed with €695m of first and second lien leveraged loans, according to LPC data.
|
|
The $1.85 billion revolver is secured by a first lien on inventory and receivables of Toys-Delaware.
|
|
The mere existence of a lien does not prove that a property owner has done anything wrong.
|
|
The debt is expected to be in the form of senior leveraged loans and second lien loans.
|
|
The trip had been arranged by the Tieh Lien Hua Travel Agency, according to Taiwan's tourism bureau.
|
|
The banks are providing a roughly $330 million secured loan package with first- and second-lien seniority.
|
|
San Diego Association of Governments, $65.43 million of South Bay Expressway toll revenue first senior lien bonds.
|
|
Last year, the I.R.S. filed a lien against Mr. Moore related to the $0003,000 in back taxes.
|
|
The airlines put a lien on the materials, which got soaked and ruined in the damaged airport.
|
|
San Diego Association of Governments, $204.5 million of South Bay expressway toll revenue first senior lien bonds.
|
|
San Diego Association of Governments, $204.5 million of South Bay Expressway toll revenue first senior lien bonds.
|
|
But the company plans to adhere to Western export control regulations in this process, Mr. Lien said.
|
|
If the government wins, they can place a lien on your home and even force a sale.
|
|
The company's first-lien bank debt holders included asset manager Oaktree Capital, Refinitiv's LPC reported on Friday.
|
|
At SFr1.3bn, it will be the largest second-lien loan since the financial crisis, several sources said.
|
|
The IRS can't, for example, take out a lien on your house if you fail to pay.
|
|
Recovery Assumptions The 'BB/RR1' rating for ABILITY's $20 million revolver and $375 million first-lien term loan reflect recovery of 94% of the outstanding principal amount in a hypothetical bankruptcy scenario; the 'CCC+'/'RR6' rating on the $150 million second-lien term loan reflects recovery of 2%.
|
|
The reality star and her husband have been slapped with a tax lien by the state of California.
|
|
"In other words, the Fed is betting on Donald Trump delivering, which is a risky gamble," said Lien.
|
|
The IRS has a $75,000 tax lien on Moore for unpaid income taxes from his 2014 tax return.
|
|
Uncle Sam just slapped the rapper with a huge tax lien -- $391,056.55 in unpaid income taxes from 2014.
|
|
"Dollar traders were not impressed," said Kathy Lien, managing director for foreign exchange strategy at BK Asset Management.
|
|
The new owners, the company's first lien lenders, have yet to select a name for the reorganized company.
|
|
That financing comprised a €240m seven-year term loan B and a €35m eight-year second-lien loan.
|
|
Depending on credit agreements, companies can generally wedge 1.5 lien debt in between their first and second liens.
|
|
"It's just a lot of consolidation in the market," said Kathy Lien, managing director at BK Asset Management.
|
|
The clearing account in which Merrill held the customers' funds was subject to a general lien, Ceresney said.
|
|
"A lot of investors might want to look for different ways to play these gold miners," Lien said.
|
|
On Tuesday, FHA said it would insure mortgages with PACE assessments that are subordinated to the mortgage lien.
|
|
The lien relates to a deduction he took for both alimony and child support to his ex-wife.
|
|
The first-lien loan priced at 400bp over Libor after being proposed in the 450bp-475bp range, too.
|
|
Lien also foresees more outflows from China, which will further weaken the yuan and the country's purchasing power.
|
|
Many of the first lien facilities were ABLs that were repaid shortly after filing via DIP roll-ups.
|
|
The second is the mortgage, which gives the lender a lien on a house if the borrower defaults.
|
|
Corey died at his Manhattan townhouse on Monday, the comedian's daughter-in-law Lien Corey said by phone.
|
|
The second-lien tranche tightened to 775bp over Libor with a 1% floor from guidance of around 800bp.
|
|
The deal launched alongside a $1.1bn first-lien loan that will be used to refinance the company's debt.
|
|
Based on that figure, leverage will stand at 4.7 times through the first lien and 6.4 times total.
|
|
The second-lien is expected to be preplaced with funds including Bain and Park Square, the sources said.
|
|
He thought that was the end of the matter, but Jake's never released the lien on his property.
|
|
We're told Lien was pulled over, for the 2nd time, because she was driving with no visible tags.
|
|
Mr. Szabo filed the lien, prompting Mr. Trump to ask for help from Daniel Sullivan, a labor consultant.
|
|
VILLAGE GREEN DR., 000, No. A-Phouvankham and Lien Ratanavong to Oscar Fernandez and Ramon F. Sanchez, $3409,000.
|
|
L'Organisation mondiale de la santé (OMS) s'est inquiétée samedi de l'apparition d'infection sans lien évident avec la Chine.
|
|
The deal also comprises a US$520m second-lien loan that will be placed privately, banking sources said.
|
|
Investors get a statutory lien shielding the debt from municipal bankruptcy, which is not allowed under Illinois law.
|
|
The dispute stemmed from the unintentional release of a lien on GM equipment due to a paperwork error.
|
|
"They are forced into labor," says Fils-Lien Ely Thelot, president of the National Committee Against Human Trafficking.
|
|
There's also $300 million of District of Columbia Water and Sewer Authority public utility senior lien revenue bonds.
|
|
Already a number of discrepancies, including a $75,000 federal tax lien, could derail his nomination by the President.
|
|
Projected loan loss rates varied significantly from 3.2% on domestic first lien mortgages to 13.4% on credit cards.
|
|
Walls, for example, believes that Thoreau was probably helping the Collins family escape a lien on their house.
|
|
However, origination in TCB's national lending portfolios remained strong and overall loan growth was masked by slower footprint lending, sale of junior lien mortgages and auto loans, and the continued run-off of the legacy first-lien consumer mortgages as reflected by a 15% decline in that balance over the year.
|
|
Recovery Assumptions The 'BB/RR1' rating for ABILITY's proposed $20 million revolver and $103 million first-lien term loan reflect recovery of 94% of the outstanding principal amount in a hypothetical bankruptcy scenario; the 'CCC+/RR6' rating on the proposed $150 million second-lien term loan reflects recovery of 2%.
|
|
Pricing on a US$28bn buyout deal for blood glucose monitoring systems marketer LifeScan widened during syndication to 25.5bp over Libor from 2400bp over Libor on a US$28bn first-lien tranche and pricing on a US$553m second-lien tranche increased to 255bp over Libor from 29.9bp over Libor.
|
|
"If sufficient progress toward a consensual plan is not made (...) it may very well be that a plan proposed by the first lien bank and noteholders becomes the most efficient means to allow (the company) to emerge in a timely manner from bankruptcy," first-lien noteholders said in the filing.
|
|
The $1.025 billion B-4 term loan benefits from the same credit support as the existing B-2 and B-3 term loans, which includes a first lien on all present and future IP, trademarks, copyrights, patents, websites and other intangible assets and a second lien on the ABL collateral.
|
|
Investors will get a statutory lien shielding the debt from municipal bankruptcy, which is not allowed under Illinois law.
|
|
The second-lien term loan recovers 0%, which corresponds to a 'CCC+'/'RR13' rating, two notches below the IDR.
|
|
New Jersey also had to go to court for a lien to collect a Trump company's unpaid tax bill.
|
|
Wikimedia communications manager Samantha Lien says that it all comes down to the "notability requirements" of any new page.
|
|
Pricing on the second-lien term loan cleared at 725 basis points over Libor with a 1 percent floor.
|
|
Lien added the deluge of Chinese economic data due this week will also be a focus for the Aussie.
|
|
The second-lien facility has been provided by BSOF Master Fund, HPS Investment Partners, PSP Investments and Travertine Investment.
|
|
So Mr. Barrett subpoenaed Citicorp, the agent for the first-lien lenders in the case, asking for the names.
|
|
Mr. McIntyre said he was a part-time worker with the company, but did not comment on the lien.
|
|
The ABL facility has a first-lien interest in substantially all eligible accounts receivable (A/R) of HCA, Inc.
|
|
" KATHY LIEN, MANAGING DIRECTOR, BK ASSET MANAGEMENT, NEW YORK "It's definitely going to (put) upward pressure on the yuan.
|
|
Norway's Oil and Energy Minister Tord Lien said last January the country should not rush to approve new cables.
|
|
The notice said that if the amount wasn't paid in August, the property would be subject to a lien.
|
|
A US$500m second-lien loan priced at 900bp over Libor, at wide end of guidance of 850bp-900bp.
|
|
The authority's senior lien revenue refunding bonds were rated Baa2 by Moody's Investors Service, a low investment grade rating.
|
|
The broth has to hit the eight-hour mark before Lam Lien, the chef, will even consider serving it.
|
|
"The risk for the dollar still exists," said Kathy Lien, managing director at BK Asset Management in New York.
|
|
As part of the deal, Sears gave the PBGC a lien on many of its most valuable remaining assets.
|
|
The $200 million loan is also secured by a second lien on 4 real properties owned by the Borrowers.
|
|
"After closely analyzing our internal traffic reports, we can confirm Wikipedia is blocked across all language versions," Lien said.
|
|
Lien said the Wikimedia Foundation had not received any notice that would explain why the block had been imposed.
|
|
Which brings us to another concern, which is that the purchase of the solar panels creates a new lien.
|
|
In 2013, the couple closed a state tax lien against them for $2190,22017 that had been pending since 2100.
|
|
Have your property seizedA lien is a claim to your property; a levy is the actual taking of it.
|
|
The first-lien lenders were among creditors who had refused to support the operating unit's plan to exit bankruptcy.
|
|
And then, as part of the lawsuit, they might garnish her wages or put a lien on her house.
|
|
Fitch has assigned a 'BB+'/'RR7503' rating to the borrowers' US$4.2 billion first lien senior secured term loan and $400 million first lien senior secured revolving credit facility (RCF), as well as a 'BB-'/'RR4' rating to the US$1.15 billion senior secured second lien term loan, all of which are part of the transaction financing for the merger of Misys with DH Corporation (D+H) in a transaction expected to close prior to the end of the third calendar quarter of 2017.
|
|
More than $14 billion in property taxes goes unpaid across the United States and, of the 30 states and District of Columbia that sell tax liens, $4.2 billion of that is sold to private investors, according to the National Tax Lien Association, a nonprofit that represents tax lien investors, governments and servicers.
|
|
Exploration and production (E&P) company Fieldwood Energy's second-lien term loan also traded at 75.5-77.5 on February 14.
|
|
Ares Capital, Varagon Capital Partners and AB Private Credit Investors were joint lead arrangers on the first-lien incremental facility.
|
|
The action by prosecutors settles a lien that authorities had placed on Mr. Shkreli's account as security for the bond.
|
|
However, many of those funds are telling sponsors they will not buy the second-lien paper if it is syndicated.
|
|
Moore also faced a $75,000 tax lien from the IRS last year, which he says he has now paid off.
|
|
Michelle Yeoh reprises her role as warrior Yu Shu Lien, tasked with defending a special sword from an evil warlord.
|
|
A subsequent lien was filed in April 2014 indicating Ford owed more than $42,000 in unpaid income taxes for 2012.
|
|
The second-lien facilities pay 750bp over Libor/Euribor and have a 0% Libor/Euribor floors, with a 275bp OID.
|
|
The pair were involved in a lengthy legal squabble that resulted in a lien being placed on his personal finances.
|
|
Kathy Lien, at BK Asset Management, told CNBC Monday that a "Brexit" could mean the "dissolution" of the European Union.
|
|
"Investors are having a hard time deciding whether the drop in yields is positive or negative for stocks," Lien said.
|
|
The Caesars unit has yet to secure support from first-lien banks or its junior creditors for its reorganization plan.
|
|
Second-lien issuance has been solid this year, with US$4.15bn of new money and refinancing completed year-to-date.
|
|
According to dozens of interviews conducted by the FBI, DocX originally created lien releases, signifying when mortgages got paid off.
|
|
Total Safety and its first-lien term loan are rated B3 by Moody's Investors Service and B- by S&P.
|
|
"There seems to be a renewed appetite among banks to underwrite second-lien deals, which is very promising," Farley said.
|
|
"The dollar ... went up very far, very fast and tried to break through a pretty key technical level," Lien said.
|
|
The eight-year second-lien loan priced at 23bp over Libor with a 1% floor and a discount of 99.
|
|
The deal also includes a US$2800m revolving credit facility and a US$11m privately-placed second-lien term loan.
|
|
Travelport priced its US$2.8bn first-lien loan at 500bp over Libor, above price guidance of 450bp-0.813bp over Libor.
|
|
The Hunt Lien and Tam Nguyen left Vietnam for the United States in 1975, just before the fall of Saigon.
|
|
There could also be a senior bond, and the financing could include preplaced first- and second-lien dollar-denominated loans.
|
|
Court records show one past lien, an $8,997 state tax bill imposed in 2000 and not paid off until 2014.
|
|
"Carney's comments cast doubt on easing from Europe," said Kathy Lien, managing director at BK Asset Management in New York.
|
|
"When one country, region, or culture cannot join the global conversation on Wikipedia, the entire world is poorer," Lien adds.
|
|
Virginia Small Business Financing Authority, $737 million of Transform 66 P3 Project tax-exempt senior lien private activity revenue bonds.
|
|
The cozy rapport between audience and performers has been painstakingly maintained by Ms. Chavkin and the set designer, Mimi Lien.
|
|
Republicans have been warmer to Moore, though he also faces personal issues, including a tax lien of more than $75,000.
|
|
The legal fight stretches back to 2006, when JPMorgan loaned GM $1.5 billion and received a lien on GM assets.
|
|
Pressure on the greenback likely will continue, said Kathy Lien, managing director of foreign exchange strategy at BK Asset Management.
|
|
The financing will comprise a €490m term loan B, a €110m second-lien loan and a €90m revolving credit facility.
|
|
After tapping the market on July 24, Verifone, was able to firm pricing on its $33 billion buyout deal, setting the US$1.75bn first-lien loan at 400bp over Libor versus guidance in the 400bp-2400bp range and the US$2350m second-lien loan at 2400bp over Libor against guidance in the 22bp-2400bp range.
|
|
The vehicle had been repossessed with an outstanding lien, and that financing company went out of business after delivering the car.
|
|
Fitch has also affirmed Voyage Care BondCo plc's senior secured notes at 'BB-'/'RR103' and second lien notes at 'B-'/'RR4'.
|
|
Industry Minister Monica Maeland and Oil Minister Tord Lien held separate meetings in Oslo with Russia's Natural Resources Minister Sergei Donskoi.
|
|
Other bankers are also working on financing packages of a similar value, comprising senior leveraged loans and subordinated second-lien loans.
|
|
Investors holding US$20213bn of Halcon Resources' unsecured bonds agreed to exchange their notes for new third-lien securities last August.
|
|
If tax lien investing interests you, consider a more passive investment with a professional who does it all day, every day.
|
|
Lien said investors are nervous about the anti-EU sentiment of political candidates in France and the Netherlands ahead of elections.
|
|
Sherrod Brown of Ohio and Ron Wyden of Oregon pressed Moore for an explanation of the lien and related tax questions.
|
|
La SQ confirme qu'un seul des individus arrêté hier soir en lien avec l'#attentat de #Québec est considéré comme suspect.
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The Bar As it turns out, the classic long bar lined with beer taps isn't what Lien would call female friendly.
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In addition to the planned early redemption of the existing notes and issuance of new second lien notes, Moto Ventures Ltd.
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"By the end of her testimony, sentiment completely shifted," said Kathy Lien, managing director of BK Asset Management in New York.
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The plan would also open the door to Chapter 9 municipal bankruptcy while protecting general obligation bondholders with a statutory lien.
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First-lien loan recoveries are forecast to be about 61%, down from the average historical recovery of 77%, according to Moody's.
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However, Lien said U.S. companies that directly compete with Japan, such as GM versus Toyota, may be better positioned to outperform.
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"We didn't have a completely, unambiguously negative report," commented Kathy Lien, managing director of foreign exchange strategy at BK Asset Management.
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Kathy Lien, managing director of FX strategy at BK Asset Management, said investors were taking profits on their long dollar position.
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"When I first started the business, I borrowed $100,000 from my aunt Lien, who owned a restaurant in Holland," he said.
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Proceeds are slated to refinance the company's exisitng capital structure, including a first-lien term loan priced at 1003bp over Libor.
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It remains a small market at only 5% of the leveraged loan universe in comparison with first-lien term loan issuance.
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Second-lien deals with stronger call protection often trade a couple of points over the issue price in the secondary market.
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No. But its deficits placed a heavy lien on Macron's political authority that did not go unremarked in Berlin and Frankfurt.
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Led by chef Lien Lin, the beef tripe and banh xeo— a Vietnamese crepe with Carolina white shrimp and pork — shine.
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Ares and Metlife are among the lenders taking down the second-lien loan - both members of the existing syndicate, sources said.
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Macdonald and his set designer, Mimi Lien, have followed the script's exacting instructions but have also played with them a little.
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The contractors were sending the Neumanns a "message"In all four disputes, the contractors resorted to something called a mechanic's lien.
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Specifically, he is asking to have the "first lien" on certain assets, putting him first in line to be paid back.
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It exchanged second-lien notes for 98 percent of existing equity, meaning shareholders' total stake will be reduced to 2 percent.
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"They have threatened forceful measures if the bill is signed so expect to tensions to escalate when that happens," Lien said.
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Kathy Lien, managing director of foreign-exchange strategy at BK Asset Management, also attributed the euro's surge to the Trump scandal.
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In 2018, the Internal Revenue Service placed a lien on his home after he failed to pay $75,000 in back taxes.
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When those farmers enter nursing homes, the homes can put a lien on the residents' farms in order to collect payment.
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Chen Lien Tang put the family name on many restaurants before retiring to spend time in China, New York and Taiwan.
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Otherwise, contractors could put a lien on the home – which would affect the new owner, not the flipper who stiffed them.
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"Many older couples who come into our store talk about how they can sell their home and retire," Mr. Lien said.
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More drastic punishments brought on by tax debt include the IRS filing a federal tax lien and possibly seizing your assets.
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Recoveries for second-lien loans are forecast to be just 14 percent, down from the average historical rate of 43 percent.
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An approximate €570m-equivalent debt financing backing Advent's acquisition of Danish packaging group Faerch Plast also includes a preplaced second-lien.
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The financings will be provided across companies' capital structures, as first-lien or other loans backed by collateral, the company said.
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Doncasters' debt includes a US$615m first-lien loan that matures in March 20123, a US$290m second-lien loan maturing in September 2020, and a US$153m ABL facility from banks including Bank of America Merrill Lynch, Credit Suisse, Royal Bank of Scotland and Wells Fargo that matures in January 2020, according to LPC data.
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If a tax lien on an occupied property needs to be foreclosed, you have to be willing to kick the occupants out, possibly even seeking the professional help of a property manager or attorney, which could cost thousands of dollars (though that's generally refunded to the lien holder if the owner redeems the property before the foreclosure is complete).
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Tuesday's hearing was meant to address Tyga's financial standing, but because of a lien on his property and the fact that he didn't show up to court, "a lien was created … including any property gifted to a third-party, to be applied toward satisfaction of the $480,285.00 worth of debt" – which means Jenner's Maybach could be taken away.
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Jefferies was lead left on the acquisition funding, joined by CIBC and TD. Earlier this year, enterprise software provider Perforce Software Inc finalized a US$410m first-lien incremental term loan and a US$50m second-lien add-on loan to fund the acquisition of Rogue Wave Software, a provider of cross-platform software developer tools and embedded components.
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The ABL facility is secured by a first-priority lien on the patient accounts receivable of all of the borrower's wholly owned hospital subsidiaries, while the first and second lien secured notes are secured by the capital stock of the operating subsidiaries, making the notes structurally subordinate to the ABL facility with respect to the accounts receivable collateral.
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Tuesday's hearing was meant to address Tyga's financial standing, but because of a lien on his property and the fact that he didn't show up to court, "a lien was created … including any property gifted to a third-party, to be applied toward satisfaction of the $480,285.00 worth of debt" – which means Jenner's Maybach could have been taken away.
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"The system cannot be sold free and clear of the lien on revenues unless the lien is discharged through full payment of the bonds, there is adequate coverage of debt service after any sale of assets, or the bonds are given the full value of their collateral through a confirmed plan of adjustment," the insurer said in the statement.
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This week specialty materials company Boyd Corp wrapped up a $22 billion first-lien loan and a $2639 million second-lien loan to finance its acquisition by Goldman Sachs Merchant Banking and last week healthcare data analytics company Verscend Technologies lined up a $2154 billion term loan to finance its purchase of analytics provider Cotiviti Holdings.
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The deal levers the company at 210 times through the seven-year US$23.1bn first-lien loan and 21.6 times total, through the eight-year US$123m second-lien loan, based on US$212m of last 231 months' adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization at August 22, two of the sources said.
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Pricing on the first lien is expected somewhere between 400bp-450bp over Libor, with a 0% floor, one of the sources added.
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The married couple owe a tax lien for $259,108.23 for unpaid state taxes from 2014, according to court documents obtained by PEOPLE.
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The first-lien secured obligations recover 75% in this scenario, resulting in a rating two notches above the IDR at 'BB-'/'RR2'.
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His plan was to take over the properties if their owners did not pay the lien within a designated amount of time.
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More than 80 percent of tax liens purchased in the U.S. are by NTLA members, which include tax lien investing fund managers.
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Pricing on the RCF has four 25bp step-downs for each 0.25 times reduction in first lien net leverage below 4.9 times.
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"This is just the beginning," said Kathy Lien, director of FX strategy with BK Asset Management, speaking on "Squawk Box" this morning.
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"Notability is defined as a subject that has 'received significant coverage in reliable sources that are independent of the subject,'" Lien says.
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It's also important to note that not paying your taxes can result in a tax lien, which can hurt your credit scores.
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Slowly, the traditional first- and second-lien structure has gotten inexpensive enough to outweigh the convenience the JV-backed deals were offering.
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COFINA creditors said it would also unlawfully transfer sales tax revenue, on which they have a lien, into the island's general fund.
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The investment strategy focuses on senior secured loans and selectively, second-lien loans, made primarily to private equity-sponsored middle market companies.
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Lenders originated $518 billion in first-lien mortgage originations in the second quarter, the highest volume since the same quarter of 2013.
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"It was your typical turnaround Tuesday in the financial markets," said Kathy Lien, managing director of foreign exchange at BK Asset Management.
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The financing will be denominated in euros and comprise a senior secured term loan B, a second-lien loan and undrawn facilities.
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She said the lien has greatly complicated her hopes of taking out a loan to start her own small assisted living center.
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Enriquez had received the document from a Trump official, but failed to correct it — which Trump lawyers claimed made the lien invalid.
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"While Japan needs another round of stimulus, the earliest that we could see more easing from the BOJ is July," Lien said.
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Second-lien loans have been popular of late on buyout financings, especially when they are preplaced as they give certainty of funds.
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One of Aretha's former lawyers tells us the massive tax lien is the result of several audits over the last 6 years.
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Goldman Sachs led the original first-lien loan to back the company's 2016 buyout by private equity-backed talent agency WME-IMG.
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This is because the cost of the solar panels is essentially a lien on the home that can last over a decade.
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Eastspring has had an "overweight" position on Chinese assets for a long time, Lien said, adding that she likes the Chinese banks.
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The second lien was then introduced and pricing reverted to 475bp at 99 when the deal was flexed for a second time.
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PDVSA bondholders would also have to contend with Russian oil producer Rosneft, which has a lien on the remainder of Citgo's stock.
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When the consortium of hedge funds made the first loan of $725 million in January, the money was a second-lien investment.
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Did you read Francis Lam in The Times Magazine on Cheryl Lu-Lien Tan and her grandmother's recipe for Singaporean braised duck?
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O offers its creditors higher coupon and a second lien debt that comes ahead of unsecured debt plus equity for their holdings.
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District Saigon opened in February under the name District Mot, a nod to District 1 in Saigon, where Lam Lien grew up.
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As far as specific threats from the lack of covenants, Moody's mentions collateral control, guarantees and lien priority as the biggest issues.
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The strategist did predict a slight correction at the start of 2017 as well, though not for the same reasons as Lien.
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When exploration and production firms need more funding, they typically take out a second lien loan or issue new equity or bonds.
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The $526.3 million of second lien bonds, including $444.6 million of remarketed debt, was repriced by underwriters led by PNC Capital Markets.
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Lien said final decisions on investments would be taken in early 2019 and full-scale projects could be in place from 2022.
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"As diversity progress in Silicon Valley stalls, advocates call for a new approach," the L.A. Times' Tracey Lien writes from San Francisco.
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Kim-Lien Nguyen, MD, is an assistant professor of medicine at David Geffen School of Medicine at UCLA and a practicing cardiologist.
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The second-lien is expected to be split between a SFr405m euro tranche and a SFr945m dollars tranche, guided to pay 750bp.
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The term loans will be offered with 101 soft call for six months, while the second-lien will be 102/101/par.
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Mr. Moore, in an interview last week with The New York Times, described that lien as a "huge miscalculation" by the agency.
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It is unclear whether the $75,000 tax lien relates to the child- and spousal-support-payment delinquencies laid out by The Guardian.
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First, Lien Shaoyong, a fellow eastward-bound traveler I had met at the grottoes, struck a deal for me with the conductor.
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Ahead, the dollar was likely to trade with a downward bias before the release of nonfarm payrolls due next week, Lien added.
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Creditors and shareholders would have what's called a first lien against executives' co-op apartments, Hamptons houses, art collections and bank accounts.
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In 2013, city records show that a lien was removed from the apartment after Mr. Brassner paid $21,668 in arrears and fees.
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She said the lien has greatly complicated her hopes of taking out a loan to start her own small assisted-living center.
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The bank also reported continued reduction in energy loans, seasonally lower card balances, and a continued decline in junior lien mortgage loans.
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"The movements in currencies are mirroring the movements in stocks," said Kathy Lien, managing director for BK Asset Management in New York.
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Albuquerque Bernalillo County Water Utility Authority, N.M., $84.5 million of senior lien joint water and sewer system refinancing and improvement revenue bonds.
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In docs, they say the warrant was based on a non-existent tax lien -- meaning, investigators cut corners and violated their rights.
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Originally, the cash sweep was offered at 50% once first-lien net leverage hit 4.5 times, a source familiar with the transaction said.
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Lien expects the dollar to strengthen further on the back of a robust U.S. economy, rising interest rates and its safe haven status.
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Bank of America Merrill Lynch, HSBC and Royal Bank of Canada have underwritten the debt financing, which comprises senior and second-lien facilities.
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Westover of the NTLA advises bidders to divide the face amount of the delinquent tax lien by the market value of the property.
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It gained support from the equity turnaround and the yield spreads, said Kathy Lien, managing director at BK Asset Management in New York.
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So far, holders of about $12 billion, or two-thirds, of first-lien bank and bond debt, have signed on to the plan.
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The yen was at a level where it's screaming for monetary intervention but the timing just wasn't right for more stimulus, said Lien.
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"There are now reports that the BOJ could introduce negative lending rates to complement negative deposit rates," Lien said in a note Friday.
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"Unless something challenges that outlook, investors will be holding onto their dollars into the FOMC (Federal Open Market Committee) meeting," BK's Lien said.
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One lien claimed that 1980 subcontractors weren't paid in full or on time for Trump's Taj Mahal casino in Atlantic City, New Jersey.
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Second-lien debt is also rising with US$4.2bn of volume so far this year, more than double last year's first quarter total.
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Kathy Lien, managing director of FX strategy at BK Asset Management, believes that currency markets could be in store for a big shakeup.
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Borrowers are choosing to issue more flexible leveraged loans than junior debt in the form of high yield bonds and second lien loans.
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The payments include more than $1 billion in general obligation bonds, the island's highest tiered credit that carries a constitutional lien on revenues.
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" But Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, said the rebound from Friday's sell-off could be "violent.
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Less than a year after buying the company, shareholders are set to repay the second-lien, which was privately placed with four funds.
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Despite paying up, the economics still work in the company's favour to raise the add-on term loan and scrap the second-lien.
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It also provides first-lien senior financing for companies that require bespoke funding regarding acquisitions, capex, working capital or recovery funding, Pemberton said.
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In December 2014, the IRS filed a third and final lien against Ford for failing to pay over $58,000 in taxes for 2013.
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The rapper was hit with a federal tax lien for 3 separate years -- $16,617.05 in 2011, $54,626.91 in 2013 and $109,725.39 in 2014.
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The Blast reported in April that Howard was hit with a tax lien for $143,538.61 by the State of California Franchise Tax Board.
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Estimated tranches for the first lien senior secured term loan will consist of a US$3.12 billion tranche and a EUR1 billion tranche.
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If you agree to pay via a direct debit or payroll-deduction plan, the IRS will not place a tax lien on you.
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UFC was able to lower pricing twice on the second-lien loan to 750bp over Libor from initial guidance of 850bp over Libor.
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The feds have issued a tax lien, and if Rozay doesn't pay up they could haul away his stuff to cover his nut.
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Golfsmith said it was working with its first-lien lenders to finalize the terms of a $135 million debtor-in-possession financing facility.
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That's a negative for corporate Japan, noted Kathy Lien, managing director of foreign-exchange strategy at BK Asset Management, in a note Wednesday.
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Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, wrote in a note that investors are reluctant to own dollars.
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The modest equity injection as well as the lower senior and second lien debt amounts, have been reflected in our updated Recovery Ratings.
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The company filed for bankruptcy in September with an agreement to swap equity ownership to holders of its $1 billion second-lien loan.
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The first-lien loan will be split between euros and dollars, with around half to two-thirds denominated in euros, the sources said.
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|
"We've been buying first-lien leveraged loans on companies that had in the past had trouble," such as prior bankruptcy proceedings, Vranos said.
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|
The size of first-lien term loan and asset-based loan were unchanged, but the DDTL was cut in half to US$37.5m.
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|
"On the right second-lien loans, it can be a fight to get paper because it's typically a much smaller facility," Nechamkin said.
|
|
By far the most significant debt came on July 28, 2015, when the IRS filed a $102,277 federal tax lien against the Stidhams.
|
|
Antares Capital was lead agent on both the first- and second-lien facilities, joined by Goldman Sachs and Jefferies as joint lead arrangers.
|
|
First-lien, however, is not what it used to be and protection for lenders is at an all-time low in the market.
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|
Scott Lien, grandPad's chief executive, created the tablet after hearing loss made it difficult for his mother to talk on a standard phone.
|
|
On the other hand, for those with high first-lien balances drawing low volumes of equity, the math still tends to favor HELOCs.
|
|
"The setback for Trump is a setback for the U.S. dollar," said Kathy Lien, managing director at BK Asset Management in New York.
|
|
The staple financing totals around 6.5 times the unit's approximate €500m Ebitda and consists of first and second-lien loans, the sources said.
|
|
Oil Minister Tord Lien of the right-wing Progress party will stand down in favor of Terje Soeviknes, a popular small-town mayor.
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The financing comprises around €770m of senior loans and €130m of preplaced second-lien loans, as well as undrawn loans, the sources said.
|
|
"If Trump responds with more than harsh words for North Korea, we could see dollar/yen drop as low as 108," wrote Lien.
|
|
On veille à garder le statut d'ex-colonisés pour rappeler le lien des musulmans avec leur pays d'origine plutôt qu'avec leur pays d'accueil.
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Frontier Communications Corp: * FRONTIER COMMUNICATIONS ANNOUNCES $1.6 BILLION SECOND LIEN SECURED NOTES OFFERING * FRONTIER COMMUNICATIONS - INTENDS TO OFFER, IN A PRIVATE TRANSACTION, $1.6 BILLION AGGREGATE PRINCIPAL AMOUNT OF SECOND LIEN SECURED NOTES DUE 2026 * FRONTIER - INTENDS TO USE PROCEEDS FROM OFFERING TO FINANCE CASH CONSIDERATION PAYABLE FOR OFFERS TO BUY FOR CASH SOME SENIOR NOTES Source text for Eikon: Further company coverage:
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These deals are among the first syndicated second-lien loans to hit the market since the fourth quarter of 2015 when second-lien activity ground to a halt with the volatility and showcases just how far the market has come and could help sponsors look at additional deals, including leveraged buyouts in the second half of the year if it holds up.
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The rest of the loans will comprise a term loan B and could also include a pre-placed second-lien facility, the sources said.
|
|
The first-lien loan was increased to US$211m from US$2575m and priced at 2600bp over Libor versus guidance of 299bp over Libor.
|
|
According to a recently filed tax lien, the Mean Girls star owes Uncle Sam $100,710.55 in taxes from the years 2010, 2014 and 2015.
|
|
They began stripping tax-lien and civil-judgement data and removing collection accounts, which raised scores in some cases by more than 40 points.
|
|
Debt secured on a pari passu basis to the first lien secured notes is limited to the greater of $2.6 billion and 3.0x EBITDA.
|
|
Tuesday's move in the dollar/yen was due to short covering, said Kathy Lien, managing director of foreign exchange strategy at BK Asset Management.
|
|
She and her husband also got a tax lien for $360,641 in back taxes, which, according to the newspaper, they paid off in 2017.
|
|
The reality star, whose real name is Linnethia Monique Leakes, was hit with a federal tax lien on July 22 in a Georgia court.
|
|
"These improvements confirm that a rate hike is coming on December 21.5th," wrote Kathy Lien, managing director of FX strategy for BK Asset Management.
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|
"These improvements confirm that a rate hike is coming on December 14th," wrote Kathy Lien, managing director of FX strategy for BK Asset Management.
|
|
This reduction is in addition to the sale of roughly $400 million of accruing TDRs in the first-lien mortgage book in late 2014.
|
|
Michael Aronov, Oslo Mimi Lien for Natasha, Pierre & The Great Comet of 1812 Nigel Hook, The Play That Goes Wrong Santo Loquasto, Hello, Dolly!
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The second-lien loan priced at 825bp over Libor with a discount of 98.5, increased from 800bp over Libor with a discount of 99.
|
|
Under the guarantee and collateral agreement, the revolving lenders will have priority of payment from the collateral over the first lien term loan lenders.
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|
The authority will issue new bonds backed by a statutory lien on those assets in an amount equal to 55 percent of outstanding debt.
|
|
"Draghi wasn't hawkish enough, and the markets found that to be disappointing," said Kathy Lien, managing director at BK Asset Management in New York.
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|
"People are bailing out, they're bailing out of trades in general and that means buying back the Japanese yen," Lien told CNBC on Thursday.
|
|
In the presentation, Peabody said it expects its first-lien leverage and total leverage to decline to 2.2 and 2.9 times respectively post-bankruptcy.
|
|
Average first-lien spread increased to 406bp during the second quarter from 303bp in the first quarter, according to data from Thomson Reuters LPC.
|
|
In the fall of 2014, Enriquez filed a lien, a legal tool used to recover a debt by tying up a piece of property.
|
|
The authority would issue new bonds backed by a statutory lien on those assets in an amount equal to 55 percent of outstanding debt.
|
|
"He lost 30 percent of the investment in the first year, so he closed the contract with the bank immediately...," Lien said by phone.
|
|
If WYNN opts to call the FMNs, it can issue up to around $450 million of secured debt per its unsecured notes' lien basket.
|
|
The company said the court-supervised plan would eliminate all debt except for $40 million outstanding on its first-lien reserve-based loan facility.
|
|
"It makes sense to put in a tranche of second-lien debt into a buyout," said one middle market investor of the current market.
|
|
Envision's buyout is expected to be financed with US$5bn of first-lien loan debt and US$2bn of senior notes, the source said.
|
|
But victims complained of not being informed that payments would be assessed to property taxes, or that PACE added a lien to the property.
|
|
"In general, what you're seeing is a consistent tone of dollar weakness," said Kathy Lien, managing director at BK Asset Management in New York.
|
|
An additional $400 million of second lien sewer revenue bonds and $200 million of sales tax revenue bonds were sent to the full council.
|
|
They settled near Richmond, Va., where Lien Nguyen worked as a hairdresser and Tam Nguyen in a chemical plant, often on the night shift.
|
|
As a condition, the group negotiated a cap on the amount first-lien lenders could issue in debtor-in-possession financing in a bankruptcy.
|
|
If there's a stable source of financing and second-lien debt comes back, then I think the fourth quarter could get active and interesting.
|
|
The company said it had reduced its first-lien obligations to C$225 million and extended them by around four years to July 13.
|
|
It raised an additional €75m of leveraged loans in 2017 and a €425m first and second-lien loan in 2018, according to LPC data.
|
|
Or maybe you discover the IRS has a lien on the Chelsea condo you're about to buy, as happened to one buyer last year.
|
|
Vietnam '21972 Almost 275 years ago, Hoang Thi Lien became a full member of the People's Revolutionary Party, the political leadership of the Vietcong.
|
|
Law enforcement tells us Jennifer Lien was arrested March 2 for driving on a revoked license, which should have sounded very familiar to her.
|
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Restitution, fines and fees are often turned into a lien, which records the debt but converts it from a criminal to a civil matter.
|
|
Recoveries for first-lien loans are forecast to be about 61%, down from the average historical recovery of 77%, according to the ratings firm.
|
|
The financing is expected to be offered in the form of senior term loans and subordinated second-lien loans, denominated in sterling and euros.
|
|
"Fading the GOP's progress seems to be the best bet," BK Asset Management Managing Director of FX Strategy Kathy Lien said in a note.
|
|
The debtholders benefit from a first-priority lien in selected unencumbered assets of OCN and a pledge of capital stock of its guarantor subsidiaries.
|
|
The financing is set to include around SFr3.5bn of senior leveraged loans, SFr1.3bn of preplaced second-lien loans and a SFr500m revolving credit facility.
|
|
The lawyer should check property records to make sure there is no lien; "sometimes the documents are not entirely in order," Ms. Rodriguez said.
|
|
Moody's is forecasting first-lien loan recoveries to be just 61 percent in the next default cycle, down from the historical average of 77 percent.
|
|
"But at the first sign of bad news there could be massive correction in what is quickly becoming a crowded long dollar trade," Lien added.
|
|
Pricing on the term loan B facilities has three 22005bp step-downs for each 22013 times reduction in first lien net leverage below 4.9 times.
|
|
Moore is contesting the amount of the tax lien, which his current wife says stems from a disallowance of his deducting alimony he paid Allison.
|
|
Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, said she expected the dollar to "trade quietly" ahead of the FOMC meeting.
|
|
The 'B-/RR5' rating on the senior secured second lien notes and senior unsecured notes reflects Fitch's expectations of recovery of 30% of outstanding principal.
|
|
Its solar-powered taps, 110 of which have been installed in Kerr Lien and six other Gambian villages, dispense water in response to electronic tags.
|
|
"Hotter inflation does not equal a hotter dollar," said Kathy Lien, managing director for foreign exchange strategy at BK Asset Management, in a morning note.
|
|
Funds available to take pre-placed second-lien loans include Alcentra, Apollo Capital Management, MV Credit, Ares, Park Square Capital, EQT, GSO and Partners Group.
|
|
In an email to Motherboard, Wikimedia spokesperson Samantha Lien said it did not initially publish the Knight Foundation grant proposal as a matter of policy.
|
|
The email said Perullo's "attorney in New Jersey" advised him to file a lien against Kerr's estate and file a credit report against her name.
|
|
Tori and hubby Dean McDermott were slapped with a federal tax lien for a whopping $707,487.30 in unpaid taxes, according to docs obtained by TMZ.
|
|
First-lien loan recoveries are forecast to be about 61% in the next downturn, down from the average historical recovery of 77%, according to Moody's.
|
|
The weakness of the dollar, the benign rally in stocks, reflect everyone's lack of confidence in the Federal Reserve," Lien said Wednesday on "Power Lunch.
|
|
There are also US$500m-equivalent of eight-year second-lien facilities, comprising a US$250m facility and a US$250m-equivalent euro-denominated facility.
|
|
"The market is getting excited about the possibility of a 50-year bond," said Kathy Lien, managing director at BK Asset Management in New York.
|
|
This week, chef Jonathan Whitener and his partner Lien Ta are opening their first and much-anticipated restaurant, Here's Looking at You, in LA's Koreatown.
|
|
One question posed to Levy was whether there was still a federal lien placed on a personal trust set up for the benefit of Andrew.
|
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PACE loans allow homeowners to finance solar panels (or other "energy efficient improvements") through a lien that is then paid back with property tax payments.
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Kathy Lien, managing director of FX strategy at BK Asset Management, said in a Wednesday note that there were three key takeaways from Yellen's testimony.
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"The market had a big reaction, but I think it was an overreaction," said Kathy Lien, managing director at BK Asset Management in New York.
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Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, said that the yen's appreciation spelled big trouble for Japan's businesses and economy.
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"The rhetoric from BOJ officials has been more relaxed than what investors anticipated," said Kathy Lien, managing director at BK Asset Management in New York.
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First-lien loan yields hit 6.82% in the fourth quarter of 2018 versus just 5.58% during the fourth quarter of 2017, according to LPC data.
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Second-lien loans can also be hard to come by, as they are often preplaced directly with funds instead of being syndicated widely by banks.
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Annual amortization is limited to 1% of the first-lien term loan principal amount, which can be funded with FCF generation in the ratings case.
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Senior creditors are essentially made whole on their investment, while second-lien note holders now get nearly 70 percent more than under an earlier proposal.
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The set designer Mimi Lien has created a bourgeois nightmare of a living room, complete with a polyester rug and a cute little dinette set.
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Valuation of IP Toys' IP assets held at Geoffrey, LLC are the first lien collateral backing the senior secured term loans issued at Toys-Delaware.
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Based on the terms of the lien, if she sells the property, she has to pay the government before she can receive any money herself.
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"Yellen kind of confirmed that they intend to continue to raise interest rates," said Kathy Lien, managing director at BK Asset Management in New York.
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Staff at Bun Cha Huong Lien seemed unaware that this kind of rush may be the new normal once the episode airs, apparently in September.
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Altogether, about 7 percent of the population will have a judgment or lien removed from their credit file, according to a report by Fair Isaac.
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Banks are lining up around £850m of leveraged loans to back a buyout, including up to £750m of senior term loans and second-lien loans.
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Together, these four offerings equal more than US$4bn in first-lien term loan debt, and much more is expected this month, sources have said.
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His potential nomination to the Fed has been clouded by revelations of a current tax lien and child-support issues stemming from a previous marriage.
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The legislation adopted on Thursday specifies that conversion to a civil lien is not enough to make someone with a felony conviction eligible to vote.
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The company is seeking to extend the maturity of an approximately US$1.5bn first-lien term loan B to January 2025, Refitiniv LPC previously reported.
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For investors, Lien said perhaps selling the dollar into the meeting or on the back of the FOMC rates decision would be a smart move.
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"That played a pretty significant role in the rebound in the dollar," said Kathy Lien, a managing director at BK Asset Management in New York.
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Art Lien, a courtroom sketch artist who normally covers the Supreme Court, will be capturing the scene in the Senate, where no photographs are allowed.
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Devin Clark, who now works for the medical lien finance company Medport Billing, had a negative experience while working at a credit card processing firm.
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Releasing the lien rendered part of the loan unsecured, allowing a trustee working for unsecured creditors of GM to try to claw the money back.
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"My family's pretty open-minded about things... We're quite a different culture," said Lien, a student at a sports university on the outskirts of Taipei.
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City officials have said an undetermined amount of new subordinate lien bonds issued by Chicago's Sales Tax Securitization Corporation will be used for the refunding.
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The committee includes most members from Foxconn's proposed new board, including Foxconn CFO Huang Chiu-lien and Foxconn Interconnect Technology Ltd Chairman Lu Sung-Ching.
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The company is in the junior lien position and if a house depreciates gets any money after the bank providing a mortgage and before the homeowner.
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The 47,546 home loans that began the foreclosure process in the first quarter represent just 0.7 percent of first-lien mortgages held by large national banks.
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Also, "Trump has been on a campaign to pressure other countries to strengthen their currency which effectively means he wants the dollar to weaken," Lien added.
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Lien added a move by the dollar down to 102.50 yen would give traders an opportunity to reload their long positions before the U.S. jobs report.
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Most recently, Dental Corporation of Canada Inc launched on March 1 US$177m in first- and second-lien incremental term loans to fund acquisitions, LPC reported.
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"Short covering is the primary reason for the strong gains in dollar/yen," Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, said.
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A new board will be named by holders of the company's first-lien debt, who will own a majority of the stock in the reorganized company.
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According to court records, the church owes over $1 million, after a portion of its outstanding water bill was sold by the city as a lien.
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A court-appointed administrator has warned BTG Pactual that it could be held liable for the lien on OSX3 should it seek repayment before other creditors.
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Jones Day, which represents the second-lien noteholders committee in the CEOC bankruptcy case, had asked the court to reconsider its approval of Kirkland as counsel.
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Jaime Lien is the lead research engineer for Soli, and it's her job to tune the machine learning algorithms which ultimately get hardwired into the chip.
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According to docs obtained by TMZ ... Teresa was hit with a tax lien for $23,365 in February, just two months after she got sprung from prison.
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According to Kathy Lien of BK Asset Management, the yen tends to outperform in times of trouble because of its widespread use as a funding currency.
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Existing second-lien and unsecured creditors are expected to end up with a majority of the company once it emerges from bankruptcy, according to the presentation.
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She settled a lien for $900k with Jersey in 2014, but appears to still be on the hook for a $3.4 million tab with the IRS.
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The company has agreed to sell various assets to its first-lien lenders, which will pay by forgiving what they are owed, according to court documents.
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Obama and Bourdain met at Bun Cha Huong Lien in Hanoi for an interview over Vietnamese beer and bun cha, a traditional beef and noodle dish.
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That didn't stop Rural/Metro from charging Mr. Day for their response and then placing a $15,000 lien on his home, which he had since rebuilt.
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The new US$950m first-lien term loan is guided in the 325bp-25.5bp over Libor range, compared to the existing spread of 299.75bp over Libor.
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The director, Alec Duffy, and the set designer, Amy Rubin (with a production-design concept by Mimi Lien), have put us in a cocoon of sorts.
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A spokesperson for the Los Angeles County Court confirmed to CNBC that a $568,674 tax lien was filed against Love's property in Malibu on Dec. 28.
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Syndicated second-lien debt has traditionally sold mainly to CLO buyers or business development companies, but these types of lenders hesitated during the bout of volatility.
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While this may have been the impetus for Mr. Binh's ill-fated affair with Ms. Lien, her oldest son, Mr. Phac, said they loved each other.
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Gloucester Township Mayor David Mayer said Harris' summons was served by a private lien holder, and state and county officials were investigating ways to support him.
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"The minutes made it clear that they are much closer to raising interest rates," said Kathy Lien, managing director at BK Asset Management in New York.
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It is expected to include around €1bn-€1.1bn of drawn debt, including senior leveraged loans and subordinated second-lien loans as well as additional undrawn facilities.
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According to IRS Publication 594, a lien is a declaration of the agency's claim to your property that materializes after failing to pay your first bill.
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Recoveries for first-lien loans are forecast to be about 61 percent, down from the average historical recovery of 8.63 percent, according to the ratings firm.
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High above and behind the orchestra, the designer Mimi Lien (recently a Tony nominee for "Natasha, Pierre & the Great Comet of 1812") places a glass box.
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Through its direct lending strategy, the fund will invest in second-lien or subordinated debt at an operating company level or senior debt at holding companies.
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The Internal Revenue Service still has Mayweather on the hook for $7.2 million in taxes from 2010, according to records that show a lien as unresolved.
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It gained support from the U.S. equity turnaround as well as from the yield spreads, said Kathy Lien, managing director at BK Asset Management in New York.
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The opinion marked a victory for Morgan Stanley and other first-lien creditors who had argued for an allocation pegged to the date of Energy Future's bankruptcy.
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"Investors are nervous about the economy and President Trump's policies," said Kathy LIen, managing director of FX strategy for BK Asset Management, in a late Monday note.
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There was also a €155m, seven-year second lien facility paying 750bp, with a 1% floor and 99 OID and a €50m, six-year revolving credit facility.
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After peaking at 1013% in February, the highest since June 2012, increased demand helped tug average yields on first-lien institutional loans down to 6.50% in March.
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"The positive outlook for the U.S. economy has not changed since November," said Kathy Lien, managing director of FX strategy at BK Asset Management in New York.
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"Wikipedia aims to be a neutral, reliable source of free knowledge for all, and vandalism and other violations of Wikipedia policies directly go against this," said Lien.
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"The federal tax lien is related to an entity that was owned by another company that I used to have an interest in," Avenatti told Fox News.
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The financing comprises a senior leveraged loan, split between euros and a preplaced sterling portion, as well as a pre-placed second-lien loan, the sources said.
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But as the leveraged loan refinancing wave has spilled into the middle market, that has put downward pressure on spreads and boosted demand for second-lien loans.
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In a search for yield, there are alternative funds that may be attracted to second-lien paper that may not have otherwise been in different market conditions.
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The structure of the bonds, which gives holders a lien on employer pension contributions, is exceedingly rare, and means bondholders may be battling with retirees for recoveries.
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"Without a doubt, political uncertainty has been one of the greatest risks for the euro," said Kathy Lien, managing director at BK Asset Management in New York.
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"Second-liens are so expensive so the borrower is saving by refinancing with a first-lien, even if it means paying a redemption penalty," a banker said.
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The state law also creates a statutory lien that would shield the bonds from a bankruptcy filing, which Illinois local governments are currently not allowed to pursue.
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Polypropylene container producer Anchor Packaging is wrapping up syndication of a US$390m first-lien term loan backing the company's sale to private equity firm Jordan Company.
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According to one of the authors of that research, University of Maryland astronomer Amy Lien, the Cow is a big event for astronomy regardless of the result.
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Kathy Lien of BK Asset Management also pointed to a reversal in the U.S. dollar's rise on Wednesday as proof of the Fed's inability to impact markets.
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The financing is expected to comprise a first and second lien leveraged loan financing, totalling around 6.75 times Civica's approximate Ebitda of £75-£80m, the sources said.
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The Guardian earlier last week had reported that Stephen Moore has a $75,000 tax lien filed against him by the IRS for unpaid income taxes from 2014.
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Fairfax and CI, which together hold more than 40 percent of Golfsmith's second-lien secured notes due 2018, will help Golfsmith recapitalize and restructure its U.S. business.
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" Lien added that it was becoming clear that the Japanese central bank "could allow dollar/yen to fall to 0.983 and maybe even 100 before taking action.
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The new notes were used to refinance Voyage's existing GBP0003 million senior notes maturing in August 2018 and GBP50 million second lien notes maturing in February 2019.
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The group is all that can be heard as Lien and Ed's staff see to the last lingering customers and begin to clean up for the night.
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"This allows a private consumer credit transaction to effectively jump my lien position, using the power of local government," said Pete Mills of the Mortgage Bankers Association.
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Ticking fees on the TLB and second lien start at 50% of the applicable margin after 60 days from final allocation rising to 100% after 120 days.
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The second-lien tranche opened in the secondary market at 22-22018 on July 26, higher than the US$2.73bn first-lien's trading level of 100.5-101.
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The financing will include up to £750m of senior term loans and second-lien loans, equating to around 6.25 times Parkdean's approximate £120m Ebitda, the sources said.
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Former Taiwan Vice President Lien Chan, of Taiwan's pro-China and former ruling Nationalist Party, is scheduled to meet Chinese President Xi Jinping in Beijing next week.
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Perhaps he is concerned that the contractor might file a lien against the building for failure to pay, said Peter I. Livingston, a Manhattan real estate lawyer.
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First-lien institutional term loan spreads are averaging 337bp in 2018 so far, which takes spreads to their lowest point since 2007, Thomson Reuters LPC data shows.
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As a result, by lending another $175 million for the DIP, they got a near-guarantee that $350 million of their second-lien debt would be repaid.
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The financing is expected to include around a US$1.3bn euro-denominated first-lien term loan and some US$500m euro- denominated unsecured bonds, the sources said.
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Banks syndicated 42.5% of second-lien loans in the middle market during the first quarter of last year, but that number slumped to just 5.5% last quarter.
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It could open the door for second-lien syndication again, though the bond market, which has led the credit rebound, could be the first place issuers look.
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Postmedia also secured C$110 million of new second-lien debt priced in U.S. dollars, due in mid-2023, that offers no cash interest for three years.
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Bun Cha Huong Lien only has eight reviews but, with the help of Bourdain, and the most powerful man in the free world, that's bound to change.
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The total debt quantum could increase further if a second-lien loan is included in the structure, although an all-senior financing is preferential, the sources said.
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This is in line with other deals of this nature, but banks sold the original first-lien loan at a discount of 90 cents in May 2016.
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Car près de 75 ans après son indépendance, le Liban n'a toujours pas réussi à faire émerger une citoyenneté démocratique, un lien direct entre l'individu et l'Etat.
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Matt Lien, a producer at Flag Family Media, which operates a pair of AM radio stations in North Dakota, said Slack has improved his daily work experience.
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Mr. Szabo went to Thomas Macari, a vice president of the Trump Organization, threatening to place a mechanic's lien on the property if the men weren't paid.
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In the other states, a lien is allowed only after wage theft has been proved as a result of a lawsuit or an agency investigation, for example.
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Augusta last raised debt in the syndicated market in 2008 with a first- and second-lien credit facility that backed the company's buyout by Quad-C Management.
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Heightened geopolitical tensions between the U.S. and North Korea also meant that the dollar/yen pair would have a difficult time responding to positive data, Lien added.
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Since being nominated, Moore has come under fire for a past tax lien and for his closeness to Trump and his advocacy of the President's economic policies.
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The financing was secured by a first priority lien on 28 properties, the company said, adding that Hankey was also willing to consider providing bankruptcy exit financing.
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"For the most part, the U.S. dollar is holding onto Friday's gains," said Kathy Lien, managing director of FX strategy at BK Asset Management in New York.
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Due to a paperwork error, a lien was invalidated in 2008, but other liens remained on fixtures in a multiple GM locations covering 200,000 pieces of equipment.
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The yen could have more scope to gain against the dollar, BK Asset Management Managing Director of FX Strategy Kathy Lien said in an early morning note.
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According to author Vu Hong Lien, piles of discarded snail shells were discovered in Nghệ An province of northern Vietnam that date back to over 10,000 years.
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The financing totals US$250bn and, although a US$22019m second-lien loan has been preplaced, a US$20193bn Term Loan B still needs to be syndicated.
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The bondholders have a second-priority, junior interest in the same assets that secure the first-lien senior secured term loan, pursuant to an inter-creditor agreement.
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"The market does not truly believe the U.S.-North Korea showdown is over," BK Asset Management Managing Director of FX Strategy Kathy Lien wrote in a note.
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Software provider Perforce on June 12 also finalized terms on a B2/B- first-lien term loan at 450bp and tightened the discount to 99.5 cents from 99.
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The second-lien tranche, which is guided at 800bp-825bp over Libor with a 1% floor and a 99 offering price, was oversubscribed as of earlier this week.
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In addition, a bank holding a mortgage is likely to step in and pay off the lien, especially for a very valuable property, rather than lose the home.
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Security:First priority lien over (i) Issuer's committed aeronautical and non-aeronautical revenues and the Trustee General Account, and (ii) Debt Payment Account and DSRA established for this issuance.
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"The prospect that this business will survive is, at best, uncertain," lawyer Sidney Levinson said in court on behalf of holders of $223 million in second lien notes.
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On July 1, 2016, Puerto Rico will default on more than $1 billion in general obligation bonds, the island's senior credits protected by a constitutional lien on revenues.
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The senior secured first lien notes have been downgraded to 'BB-/RR33710003' from 'BB/RR33710540' because of lower recovery prospects for the lenders in a hypothetical bankruptcy scenario.
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Lien said the ministry also planned to launch a new licencing round in mature areas before Easter this year for similar awards in pre-defined areas next year.
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"This past week was a brutal one for the U.S. dollar," wrote Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, in a Friday note.
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And with first-lien spreads narrowing to the LIB+450bp area, only so many lenders could commit to the big pieces of senior debt in the JV structures.
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The borrower's euro second-lien term loan was quoted at 18.3% of face value on Thursday, down from 67% on November 1, according to Thomson Reuters LPC data.
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"It would her last decision before President Trump can pressure the central bank and the move would show that she isn't buckling on future political pressure," Lien explained.
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In the view of macro trader Kathy Lien, however, "investors are getting a little complacent," and the Brexit outcome has been pushed under the rug all too quickly.
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Annual amortization is expected to be limited to 1% of the first-lien term loan principal amount, which can be funded with FCF generation in the ratings case.
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To help fill the pension's losses, Lampert granted the group a lien and royalty fees from some of its most valuable assets: the Kenmore, Craftsman and Diehard brands.
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"The second lien lenders have acknowledged that they are out of the money but there is the payment of some expenses which is still being discussed," he said.
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Lien said that, in addition to profit-taking in the dollar ahead of the weekend, investors likely bought the euro ahead of next week's European economic data releases.
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Betting against the euro, or "shorting" it and predicting it to fall, is one way that investors can trade the upcoming uncertainty around the vote, according to Lien.
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