Fifth Street Finance Corp. Expands Its Syndicated Bank Credit Facility to $480 Million and Lowers Pricing to LIBOR + 2.25% Per Annum
Siena is run by the former executive team of Burdale Capital Finance, Inc., the U.S. Asset Based Lending Division of Bank of Ireland. Bank of Ireland’s $1.2 billion U.S. ABL portfolio was sold to Wells Fargo in 2012, and the core team was re-launched as Siena. “Wells Fargo will further enhance our strong foundation and enable us to continue providing dependable funding to our customers,” said David Grende, Siena’s President and CEO.
Kuwait forms cabinet with new oil, finance ministers
The outgoing finance minister Mustafa al-Shamali was named oil minister, a post he had held on a caretaker basis since May following the resignation of Hani Hussein. As well as Prime Minister Sheikh Jaber Mubarak Al-Sabah, six other members of the Al-Sabah family were appointed to the cabinet, one more than in the previous government. They control the key ministries of defence, interior and foreign affairs, as well as finance, information and health. New interior and defence ministers were appointed from within the ruling family.
Finance Committee Hold Public Hearing on Proposed Merrimack Valley Casino
“It’s really just proof of concept right now, we’re trying to create the first cultured beef hamburger,” he said in the video. “From there I’m optimistic that we can really scale by leaps and bounds.” A burger taste test was held in London for the lab-grown meat Monday, and although it’s not quite as good as real meat just yet according to the testers, it seems the project was positively received. In the past year, Brin has been bestknown for his work leading Google’s smartglasses effort. Brin has been seen almost everywhere he goes sporting Google Glass, which could come out as early as next year. In the meat video, Brin talks about his interest in technologies that are “on the cusp of viability.” “Some people think it’s science fiction, it’s not real, it’s somewhere out there.
Multimedia: Who is Zimbabwe’s next Finance minister?
Analysts say more robust housing activity is being held back by tight credit. Clearing up questions about the future of Fannie Mae and Freddie Mac could help unlock capital for mortgage finance and give housing activity a boost. “On Capitol Hill, the odds are against short-term legislation,” said Jaret Seiberg, a senior policy analyst at Guggenheim Securities. “Longer-term housing finance reform is gaining momentum.
UPDATE 1-Obama to back mortgage finance reform to speed housing recovery
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. to expand its product offerings and grow its portfolio,” commented Fifth Street’s President, Bernard D.
Following Zanu PF election victory, this week NewsDay Business looks at some possible frontrunners for the Finance ministry. President Robert Mugabe, winner of last Wednesdays elections, has the prerogative to appoint five ex-officio Members of Parliament, meaning that he can cast the net wider. Patrick Chinamasa As acting Minister of Finance, Chinamasa introduced the multicurrency system in response to refusal by Zimbabweans to accept the local currency. Herbert Murerwa Murerwa wont be new to Treasury, having been minister on two occasions.
Google’s Sergey Brin helped finance lab-grown burger
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. Finance Committee memberDavid McGinness asked the representatives from Penn National if the facility would include a hotel. Jeff Morris,Director of Public Affairs at Penn National, said there were no plans for a hotel at this time and that Penn National would be partnering with hotels in Tewksbury to accommodate guests of the casino.