Fifth Street Finance Corp. Expands Its Syndicated Bank Credit Facility to $480 Million and Lowers Pricing to LIBOR + 2.25% Per Annum
Posted by Christopher Gambon (Editor) , August 07, 2013 at 09:34 AM Tewksbury Finance Committee holds a public hearing with Penn National Gaming. Loading… Next Previous Slideshow Download Finance Committee held a public hearing Tuesday on the proposed zoning bylaw changes that would allow a slots-only casino at 300 Ames Pond Drive. Also included in the125,000 square-foot facility would bea”Flutie’s Sports Bar,” thanks to a partnership between the former Boston College and New England Patriots quarterback Doug Flutieand Penn National. Representatives from Penn National also provided 5-year gamingrevenue projections for Merrimack Valley Casino: Year one: $150.2 million Year four: $195.2 million Year five: $210.1 million The host community agreement between Penn National Gaming and Tewksbury requires the company to make $1 million in annualmitigation payments, $120,000 incontributions to fund Tewksbury’s capital expenditures and approximately $3 million in estimated property taxes.
mortgage finance system in a speech on Tuesday, weighing in on a tangled and polarizing problem that was central to the devastating financial crisis in 2007-2009 and that continues to slow the economic recovery, the White House said. Obama will propose eliminating mortgage finance entities Fannie Mae and Freddie Mac over time, replacing them with a system in which the private market buys home loans from lenders and repackages them as securities for investors, senior administration officials said. The mortgage securitization process is deemed essential to the smooth flow of capital to housing markets and the availability of credit. The government’s role would be relegated to providing some form of insurance or guarantee, and to providing oversight, according to officials and a White House statement. Fannie Mae and Freddie Mac, originally chartered by Congress to expand mortgage finance, were taken over by the government in 2008 amid mounting losses in the financial crisis.
Obama to back mortgage finance reform to speed housing recovery
These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in economic conditions generally and the real estate and bond markets specifically, completion of the offering on the terms described in the registration statement, the prospectus supplement relating to this offering and the accompanying prospectus, if at all, and use of proceeds from the sale of the common stock.
NorthStar Realty Finance Announces Pricing of Public Offering of Common Stock
Pricing on the amended facility is reduced by 50 basis points to LIBOR plus 2.25% per annum with no LIBOR floor. The maturity of the facility is extended to five years with a four-year revolving period and a final maturity one year later. The amended facility also includes more flexible terms regarding eligible collateral. “Our amended facility includes a diverse group of lenders, and provides greater capacity and a more flexible structure that better enables Fifth Street Finance Corp.