Latest news with #EURIBOR
Business Upturn
06-08-2025
- Business
- Business Upturn
Baltic Horizon Fund publishes interest rate applicable to the bonds for the next interest period
Baltic Horizon Fund publishes interest rate applicable to the fund's 5-year bonds (ISIN: EE3300003235) for the next 3-months interest period which starts on 8 August 2025. The annual interest rate applicable to the bonds for the interest period as referred above is 8% + 1.973% (EURIBOR 3-months) totaling 9.973% per annum. For additional information, please contact: Advertisement Tarmo Karotam Baltic Horizon Fund manager E-mail [email protected] The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on You can also follow Baltic Horizon Fund on and on LinkedIn, Facebook, X and YouTube. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Economist
23-07-2025
- Business
- Economist
Vindication for two bankers. Questions for Britain's legal system
WERE TOM HAYES and Carlo Palombo guilty merely of being bankers? In 2015 Mr Hayes, formerly of UBS and Citigroup, was convicted of conspiring to manipulate LIBOR, a benchmark interest rate. He was initially sentenced to 14 years in prison (the same as the maximum for blackmail). In 2019 Mr Palombo, once of Barclays, was given four years for fiddling EURIBOR, another benchmark. Both men were released in 2021.
Business Wire
26-06-2025
- Business
- Business Wire
Bausch + Lomb Announces Closing of Upsized €675 Million Senior Secured Notes Offering and Partial Credit Agreement Refinancing, Including Upsized $2.325 Billion Term Loan Facility
VAUGHAN, Ontario--(BUSINESS WIRE)--Bausch + Lomb Corporation (NYSE/TSX: BLCO) ('Bausch + Lomb' or the 'company'), a leading global eye health company dedicated to helping people see better to live better, today announced that its subsidiaries, Bausch+Lomb Netherlands B.V. and Bausch & Lomb Incorporated (collectively, the 'Issuers'), have closed the upsized offering of €675 million aggregate principal amount of senior secured floating rate notes due 2031 (the 'Notes'). In addition, the company announced that it has completed a partial refinancing of its credit agreement, and in connection with such refinancing, it has entered into a third amendment (the 'Third Amendment') to its existing credit agreement providing for a $2.325 billion term B loan facility maturing in 2031 (the 'New Term B Loans') and an $800 million revolving credit facility maturing in 2030 (subject to customary 'springing' maturity provisions) (the 'New Revolving Credit Facility'). The Notes bear interest at the rate of three-month EURIBOR (with a 0% floor) plus 3.875% per year, reset quarterly, and will mature on January 15, 2031. The Notes were sold to investors at a price of 99.500% of the principal amount thereof. The Notes are guaranteed by the company and each of the company's subsidiaries (other than the Issuers) that are guarantors under the company's credit agreement and are secured on a first priority basis by liens on the same assets that secure the obligations under the company's credit agreement and the company's outstanding senior secured notes. The amortization rate for the New Term B Loans is 1.00% per annum and the first installment shall be payable on September 30, 2025. Pursuant to the Third Amendment, the initial rate of interest applicable to the New Term B Loans is (i) 4.25% for the New Term B Loans that are SOFR Loans and (ii) 3.25% for New Term B Loans that are ABR Loans. The rate of interest applicable to the New Revolving Credit Facility remains the same as that applicable to the existing revolving credit facility. The Third Amendment includes certain other modifications to the credit agreement, including increased financial covenant levels and other changes providing for additional transaction flexibility. The company used the net proceeds from the Notes offering and the New Term B Loans to repay in full the outstanding borrowings under its existing revolving credit facility, to refinance in full the outstanding term A loans due 2027 and term B loans due 2027 and to pay related fees and expenses. The Notes are not registered under the Securities Act of 1933, as amended ('Securities Act'), or any state securities law and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes were offered in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The Notes were not and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada must be made on a basis which is exempt from the prospectus requirements of such securities laws. About Bausch + Lomb Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from birth through every phase of life. Its comprehensive portfolio of approximately 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with approximately 13,500 employees and a presence in approximately 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario, with corporate offices in Bridgewater, New Jersey. Forward-looking Statements This news release may contain forward-looking information and statements within the meaning of applicable securities laws (collectively, 'forward-looking statements'). Forward-looking statements may generally be identified by the use of the words 'anticipates,' 'seeks,' 'expects,' 'plans,' 'should,' 'could,' 'would,' 'may,' 'will,' 'believes,' 'potential,' 'pending' or 'proposed' and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb's filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators (including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2024 and its most recent quarterly filings). In addition, certain material factors and assumptions have been applied in making these forward-looking statements, including the assumption that the risks and uncertainties discussed in such filings will not cause actual results or events to differ materially from those described in these forward-looking statements. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.
Business Recorder
20-06-2025
- Business
- Business Recorder
KPK budget FY26
EDITORIAL: Khyber Pakhtunkhwa (KPK) unveiled a 2119 billion-rupee budget outlay for next fiscal year with a projected surplus of 157 billion rupees — an amount that is lower by 15.8 billion rupees from what was budgeted by the federal government as its share in the 1217 billion-rupees provincial surplus (based on 14.62 percent KPK's share in the divisible pool). Given that the Sindh government budgeted a deficit of 38 billion rupees, instead of a surplus of 298 billion rupees budgeted by the federal government, a critical partner in propping up the PML-N government at the Centre, the KPK government's surplus must have come as a pleasant surprise for the Centre. In this context, it is relevant to note that the Sindh government has cited major risks associated with federal transfers pledged in the budget given that it is a usual occurrence for the federal budget to present unrealistic tax targets (in the current year the shortfall is projected at one trillion rupees). However, the KPK budget formulators took the innovative and more appropriate measure to release a document titled 'Fiscal Risk Statement', which itemised a range of issues that would impact on the revenue and expenditure side of the budget, a list that includes: (i) general economic risks associated with geopolitical tensions, including with neighbouring countries, which present the possibility of potential disruptions in trade and investment flows, posing threats to economic stability and growth; (ii) specific fiscal risks associated with lower tax collections by the FBR than budgeted, leading to lower than budgeted total transfers to KPK which, in turn, was at a variance of negative 4 percent in two years — 2021-22 and 2022-23 — and which widened to negative 19 percent in 2023-24 and registered negative 8.79 percent in 2024-25; and (iii) structural or institutional risks. KPK's outstanding debt portfolio increased by 6.41 percent due to an increase in net receipts (disbursements less principal repayments) and decrease in foreign currency exchange rate from 285 to 280 which had a weighted average impact of -1.75 percent. However, it was rightly flagged that a portion of the province's foreign debt portfolio remains linked to variable international benchmarks such as the Secured Overnight Financing Rate (SOFR), Japanese Yen Tokyo Overnight Average Rate (TONA), and the Euro Interbank Offered Rate (EURIBOR). While recent trends indicate a slowdown or pause in global rate hikes, any future tightening by major central banks could increase the cost of debt servicing. Two further observations on the budget are in order. First, tax on agriculture income is budgeted at 130 billion rupees next fiscal year, the same amount that was generated in the revised estimates of 2024-25 (against the budgeted amount of 114 billion rupees in the outgoing fiscal year), which makes one wonder what is the expected implementation of the legislated tax on the income of farmers, as per the International Monetary Fund's condition, to be implemented from 1 July 2025 with the effectivity pre-dated to 1 January 2025. And secondly, Pakistan Tehreek-e-Insaf's flagship project, Insaaf Sehat Card plus programme, is budgeted to receive 41 billion rupees next fiscal year and coverage list of medical conditions has been expanded to include liver, kidney, bone marrow and cochlear transplants/implants and related issues. Preparing a medium-term strategy paper, as required by the multilaterals, does not add real value to the federal budget as it itemises a wish-list of the future with, if past precedents are anything to go by, little likelihood of being taken seriously by the economic team leaders. However, one would recommend to the federal government (as well as all other provinces) to prepare a fiscal risk statement each year that would go a long way in adequately responding to routine challenges to budgeted revenue and expenditure claims that sadly are routinely violated. Copyright Business Recorder, 2025
Business Wire
12-06-2025
- Business
- Business Wire
Mehiläinen Yhtiöt Oy Announces Pricing of Senior Secured Notes Offering
Mehiläinen Yhtiöt Oy Announces Pricing of Senior Secured Notes Offering Mehiläinen ') announced the pricing on 11 June 2025 of its offering of €350 million aggregate principal amount of its senior secured floating rate notes due 2032 (the ' SSN Floating Rate Notes ') with a coupon of three-month EURIBOR, subject to a zero floor, plus 3.375% and €740 million aggregate principal amount of its 5.125% senior secured fixed rate notes due 2032 (the ' SSN Fixed Rate Notes ' and, together with the SSN Floating Rate Notes, the ' Notes '). The Notes will be issued at an issue price of 100% in a private offering to qualified institutional buyers within the meaning of Rule 144A under the Securities Act and persons who are outside of the United States purchasing the Notes in an offshore transaction, within the meaning of Regulation S under the Securities Act. Mehiläinen intends to use the proceeds from this offering to complete the previously announced acquisitions of Regina Maria and MediGroup, and to pay certain costs, expenses and fees related to this offering, the acquisitions and an equity contribution to be made by shareholders of Mehiläinen. If the acquisition of MediGroup is not completed for any reason following the acquisition of Regina Maria, Mehiläinen will use any excess proceeds for general corporate purposes. The gross proceeds of the Notes will initially be deposited into an escrow account and will be released in connection with the completion of the acquisition of Regina Maria. If the acquisition of Regina Maria is not consummated on or prior to 30 June 2026, the Notes will be redeemed at a redemption price equal to 100% of the issue price plus accrued and unpaid interest, and additional amounts, if any, from the issue date of the Notes to, but excluding the redemption date. Contact Information Mehiläinen Group CFO Herkko Soininen Contact via Communications Director Laura Martinsuo ( +358 40 196 2892) IMPORTANT INFORMATION The information contained in this communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Mehiläinen has not registered, and does not intend to register, any portion of the securities in any of these jurisdictions. This communication is not an offer of securities for sale in the United States. The securities referred to herein have not been registered under the Securities Act and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Mehiläinen does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States or elsewhere. In member states of the European Economic Area and the United Kingdom, this communication (and any offer of the securities referred to herein if made subsequently) is only addressed to and directed at persons who are 'qualified investors' within the meaning of Prospectus Regulation (EU) 2017/1129 (including as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018). Manufacturer target market (EU MiFID II product governance / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs / UK PRIIPs key information document (KID) has been prepared as the securities are not available to retail in European Economic Area or the United Kingdom. This communication does not constitute an offer of the securities to the public in the United Kingdom. This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the ' Order '), and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order, and (iv) any other persons to whom it may otherwise lawfully be communicated or caused to be communicated (all such persons in (i) to (iv) together being referred to as ' Relevant Persons '). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Forward Looking Statements This press release includes in various places statements that are, or may deemed to be, 'forward‑looking statements' within the meaning of the securities laws of certain jurisdictions. Words such as 'believe', 'expect', 'anticipate', 'may', 'assume', 'plan', 'intend', 'will', 'should', 'estimate', 'risk' and similar expressions or the negatives of these expressions are intended to identify forward-looking statements. In addition, from time to time Mehiläinen or its representatives, acting in respect of information provided by Mehiläinen, have made or may make forward-looking statements orally or in writing and these forward-looking statements may be included in but are not limited to press releases (including on Mehiläinen's website), reports to Mehiläinen's security holders and other communications.
