Latest news with #Bonds
Yahoo
5 hours ago
- Business
- Yahoo
INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering
The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is seeking to raise up to EUR 15 million through an offering of bonds issued by REFI Sun, a company the fund owns. The bonds will be offered publicly to retail and institutional investors in the Baltic countries from 28 July to 15 August. The bonds have a maturity of 2.5 years. The fixed interest rate on the debt securities will be set in the range of 7.5% to 8.5% and announced at completion of the offering. Interest will be paid to investors quarterly. The INVL Renewable Energy Fund I will provide guarantees to all holders of the REFI Sun bonds. 'Construction of the fund's renewable energy projects in Romania and Poland is gaining momentum, so there is also a growing need for financing, which in part we aim to meet by issuing new bonds. Most of the money raised from investors will be used to refinance a loan previously obtained by one of the fund's companies, the rest will go to the fund's solar power plant construction projects,' says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. REFI Sun seeks to raise up to EUR 15 million in a public offer in Lithuania, Latvia, and Estonia under a base prospectus for EUR 25 million bond programme approved by the Bank of Lithuania. The minimum investment amount is EUR 1,000. The lead arranger of the bond program is Artea Bank. Evernord will also participate in the placement in Lithuania, while LHV Pank and Signet Bank acting as distribution partners in Estonia and Latvia. The certified advisor to the issuer is the Sorainen law firm, while the bondholders' trustee is the company Audifina. It is planned that the debt securities will be listed on the First North alternative securities market operated by Nasdaq Vilnius within three months after the issue date. More information about the bond issue and the offering process is available on the website of the INVL Renewable Energy Fund I. An online presentation and question-and-answer session for investors (in English) will be held on 31 July at 10:00. The link to join the session is here. An online presentation and Q&A session for investors in the Lithuanian language will be held on the same day at 14:00; the link to join that session is here. In February 2025, the INVL Renewable Energy Fund I's company REFI Energy successfully completed an EUR 8 million public offering of bonds with an annual interest rate of 8%. Demand for the bonds exceeded the issue size 1.7 times, demonstrating strong investor confidence in the Fund's management team and strategy. The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund's managers see big growth potential. Total capacity of the fund's portfolio of projects in development in these markets is 389 MW. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. To date the INVL Renewable Energy Fund I has raised EUR 73.9 million from investors through investment units and bonds. About the INVL Renewable Energy Fund I The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area. INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group. Further information:Liudas LiutkevičiusManaging Partner of the INVL Renewable Energy Fund
Yahoo
5 hours ago
- Business
- Yahoo
INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering
The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is seeking to raise up to EUR 15 million through an offering of bonds issued by REFI Sun, a company the fund owns. The bonds will be offered publicly to retail and institutional investors in the Baltic countries from 28 July to 15 August. The bonds have a maturity of 2.5 years. The fixed interest rate on the debt securities will be set in the range of 7.5% to 8.5% and announced at completion of the offering. Interest will be paid to investors quarterly. The INVL Renewable Energy Fund I will provide guarantees to all holders of the REFI Sun bonds. 'Construction of the fund's renewable energy projects in Romania and Poland is gaining momentum, so there is also a growing need for financing, which in part we aim to meet by issuing new bonds. Most of the money raised from investors will be used to refinance a loan previously obtained by one of the fund's companies, the rest will go to the fund's solar power plant construction projects,' says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. REFI Sun seeks to raise up to EUR 15 million in a public offer in Lithuania, Latvia, and Estonia under a base prospectus for EUR 25 million bond programme approved by the Bank of Lithuania. The minimum investment amount is EUR 1,000. The lead arranger of the bond program is Artea Bank. Evernord will also participate in the placement in Lithuania, while LHV Pank and Signet Bank acting as distribution partners in Estonia and Latvia. The certified advisor to the issuer is the Sorainen law firm, while the bondholders' trustee is the company Audifina. It is planned that the debt securities will be listed on the First North alternative securities market operated by Nasdaq Vilnius within three months after the issue date. More information about the bond issue and the offering process is available on the website of the INVL Renewable Energy Fund I. An online presentation and question-and-answer session for investors (in English) will be held on 31 July at 10:00. The link to join the session is here. An online presentation and Q&A session for investors in the Lithuanian language will be held on the same day at 14:00; the link to join that session is here. In February 2025, the INVL Renewable Energy Fund I's company REFI Energy successfully completed an EUR 8 million public offering of bonds with an annual interest rate of 8%. Demand for the bonds exceeded the issue size 1.7 times, demonstrating strong investor confidence in the Fund's management team and strategy. The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund's managers see big growth potential. Total capacity of the fund's portfolio of projects in development in these markets is 389 MW. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. To date the INVL Renewable Energy Fund I has raised EUR 73.9 million from investors through investment units and bonds. About the INVL Renewable Energy Fund I The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area. INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group. Further information:Liudas LiutkevičiusManaging Partner of the INVL Renewable Energy Fund
Business Upturn
a day ago
- Business
- Business Upturn
UMH PROPERTIES, INC. ANNOUNCES SALE OF $80.2 MILLION OF UNSECURED BONDS IN ISRAEL
FREEHOLD, NJ, July 22, 2025 (GLOBE NEWSWIRE) — UMH Properties, Inc. (NYSE: UMH; TASE: UMH) (the 'Company'), announced today that it has completed the sale to investors in Israel of approximately $80.2 million of its 5.85% Series B Bonds due 2030 (the '2030 Bonds'). The 2030 Bonds are unsecured obligations of the Company denominated in Israeli shekels (NIS) and were issued pursuant to a deed of trust between the Company and Reznik Paz Nevo Trusts Ltd., as trustee. The net proceeds of the offering will be used for working capital and general corporate purposes. The principal amount of the 2030 Bonds will be payable on June 30, 2030. The 2030 Bonds will pay interest at a rate of 5.85% per year, subject to adjustment in certain circumstances. Interest on the 2030 Bonds will be payable semi-annually on June 30 and December 31, commencing December 31, 2025, until the final maturity date. The principal and interest will be linked to the U.S. Dollar. The 2030 Bonds are general unsecured obligations and rank equal in right of payment with all of the Company's existing and future unsecured indebtedness. The deed of trust governing the 2030 Bonds includes certain customary covenants, including minimum equity requirements, and events of default. The 2030 Bonds have not been and will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws, and may not be offered or sold in the United States or to or for the account or benefit of U.S. Persons (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or an applicable exemption from registration requirements. The 2030 Bonds were offered solely to investors outside the United States in accordance with Regulation S under the Securities Act. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. ABOUT UMH PROPERTIES, INC. UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 143 manufactured home communities, containing approximately 26,700 developed homesites, of which approximately 10,600 contain rental homes, and over 1,000 self-storage units. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, Florida and Georgia. Included in the 143 communities are two communities in Florida, containing 363 sites, that UMH has an ownership interest in and operates through its joint venture with Nuveen Real Estate. FORWARD-LOOKING STATEMENTS Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company's current expectations and involve various risks and uncertainties. Such forward-looking statements include statements about the potential outcome or effect of the sale of the 2030 Bonds or the use of proceeds therefrom. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company's annual report on Form 10-K and described from time to time in the Company's other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Contact: Nelli Madden 732-577-9997 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Bloomberg
2 days ago
- Business
- Bloomberg
Pemex Bonds Surge as Mexico Mandates Debt Deal to Support It
Bonds issued by Petroleos Mexicanos surged after the Mexican government mandated a debt sale meant to shore up resources for the battered state-owned oil company. The offering, announced in a filing Tuesday, will consist of a dollar-denominated debt maturing August 2030, in the form of amortizing pre-capitalized securities, or P-Caps, a type instrument used in asset-backed finance.
Boston Globe
7 days ago
- Boston Globe
What is it with the uber-rich and other people's trees?
Advertisement If Fitzgerald were alive today, he might very well write a novel in which an especially entitled rich person cuts down a neighbor's tree to enhance their views. It seems all the rage. In the latest case here in New England, some guy on Nantucket allegedly took a chain saw to 16 of his neighbor's cedar, cherry and cypress trees, some of them a half-century old. In Advertisement The lawsuit claims 'there is an active and ongoing criminal proceeding related to this conduct' by police on Nantucket. That could be a game-changer. Up to this point, prosecutors have been reluctant to file criminal charges when some rich jerk kills or removes a neighbor's trees to enhance the views from their property. Instead, rich people have been allowed to do what they have always done: buy their way out of trouble. It happened last year in Maine, when a wealthy and politically-connected couple from Missouri were able to pay their way out of a jam after Amelia and Arthur Bond III are big cheeses in St. Louis. She was the Three years ago, after secretly poisoning the trees of their neighbor, Lisa Gorman, widow of L.L. Bean chairman Leon Gorman, Amelia Bond approached Mrs. Gorman, expressing deep sympathy about the dying trees, graciously offering to split the cost of taking down the sweeping oak trees that blocked the Bonds' view of the harbor. It somehow slipped her mind to mention she had poisoned them in the first place. Being a saavy Mainer, Mrs. Gorman politely declined the offer and asked her arborist to investigate. Turns out the Bonds had headed to Maine that year with their yachting gear and some Tebuthiuron, a powerful herbicide commonly used on cattle ranches in the Midwest. When there is trouble, the very rich call not the police but their lawyers. Attorneys representing the Bonds and Mrs. Gorman began a series of negotiations which ended with the Bonds accepting responsibility for poisoning the trees. Advertisement In the end, Officials in the town of Camden didn't think that was enough. Last year, they asked Knox County District Attorney Natasha Irving and Maine Attorney General Aaron Frey to pursue criminal charges. But no prosecutions have been forthcoming. Irving told me that, given the limited resources in her office, she couldn't in good conscience launch a criminal case. She said any admissions the Bonds made in civil settlement agreements with Gorman, the town and state would not be admissible in a criminal case. She concluded the only charge she might feasibly pursue was criminal mischief, a misdemeanor that carries a $250 fine. Expending that kind of taxpayer money to possibly get a rich couple to pay a pittance just wasn't worth it, she said. A Still, as Nantucket police continue their investigation, there is the example of Harvey Updyke to consider. Advertisement So, in 2010, when Auburn defeated his beloved Crimson Tide in their annual Iron Bowl game, Harvey Updyke was understandably upset. He decided to avenge that loss by But, unlike the Bonds, Harvey Updyke wasn't allowed to buy his way out of trouble. He couldn't have afforded to, anyway. As a retired state trooper, he wasn't exactly rolling in that kind of dough. Updyke didn't help his case by going on a call-in radio show and admitting to poisoning the trees, ending his call with, 'Roll, damn Tide.' He eventually pleaded guilty in 2013 to poisoning the trees, This leads to two observations with which F. Scott Fitzgerald would undoubtedly agree: it is better to be rich than nice, and they take their football very, very seriously in Alabama. Kevin Cullen is a Globe columnist. He can be reached at
