Latest news with #FGIC
Yahoo
25-05-2025
- Business
- Yahoo
FGIC Announces TSA Termination
NEW YORK, May 25, 2025--(BUSINESS WIRE)--Financial Guaranty Insurance Company ("FGIC") announces today that it has terminated the Transaction Support Agreement dated as of February 29, 2024 (the "TSA"), among FGIC and certain holders of outstanding FGIC-insured securities and units issued by the Custodial Trusts holding Puerto Rico-related securities insured by FGIC, regarding a potential transaction that would have accelerated the run-off of FGIC's insured portfolio in accordance with the terms of the TSA. The termination will be effective as of May 30, 2025. While FGIC remains open to exploring potential alternative transactions, FGIC will continue the long-term run-off of its remaining insurance policies, including seeking to reduce or otherwise resolve remaining policy obligations through consensual transactions on terms that are favorable to FGIC, in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013. About FGIC FGIC is a New York stock insurance corporation and a wholly owned subsidiary of FGIC Corporation. FGIC emerged from rehabilitation on August 19, 2013, and is responsible for administering its outstanding insurance policies in accordance with the terms of the Rehabilitation Plan. Please visit Additional Information: Weil, Gotshal & Manges LLP is serving as counsel and Houlihan Lokey Capital, Inc. is serving as financial advisor. FORWARD-LOOKING STATEMENTS This notice contains "forward-looking statements" – that is, statements related to possible future events. Forward-looking statements often address expectations and beliefs as to future performance, results and business plans. You should not place undue reliance on forward-looking statements because they speak only as of the date they are made and are necessarily subject to risks and uncertainties that could cause actual results and performance to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are based upon FGIC management's current expectations and beliefs concerning future events. FGIC undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. View source version on Contacts Investor and Media Contacts:Investor Relations: Winston Wohr, +1 212.312.2776 or FGICinfo@ Press Relations: +1 212.312.2775 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-05-2025
- Business
- Yahoo
FGIC Announces TSA Termination
NEW YORK, May 25, 2025--(BUSINESS WIRE)--Financial Guaranty Insurance Company ("FGIC") announces today that it has terminated the Transaction Support Agreement dated as of February 29, 2024 (the "TSA"), among FGIC and certain holders of outstanding FGIC-insured securities and units issued by the Custodial Trusts holding Puerto Rico-related securities insured by FGIC, regarding a potential transaction that would have accelerated the run-off of FGIC's insured portfolio in accordance with the terms of the TSA. The termination will be effective as of May 30, 2025. While FGIC remains open to exploring potential alternative transactions, FGIC will continue the long-term run-off of its remaining insurance policies, including seeking to reduce or otherwise resolve remaining policy obligations through consensual transactions on terms that are favorable to FGIC, in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013. About FGIC FGIC is a New York stock insurance corporation and a wholly owned subsidiary of FGIC Corporation. FGIC emerged from rehabilitation on August 19, 2013, and is responsible for administering its outstanding insurance policies in accordance with the terms of the Rehabilitation Plan. Please visit Additional Information: Weil, Gotshal & Manges LLP is serving as counsel and Houlihan Lokey Capital, Inc. is serving as financial advisor. FORWARD-LOOKING STATEMENTS This notice contains "forward-looking statements" – that is, statements related to possible future events. Forward-looking statements often address expectations and beliefs as to future performance, results and business plans. You should not place undue reliance on forward-looking statements because they speak only as of the date they are made and are necessarily subject to risks and uncertainties that could cause actual results and performance to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are based upon FGIC management's current expectations and beliefs concerning future events. FGIC undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. View source version on Contacts Investor and Media Contacts:Investor Relations: Winston Wohr, +1 212.312.2776 or FGICinfo@ Press Relations: +1 212.312.2775 Sign in to access your portfolio
Business Wire
25-05-2025
- Business
- Business Wire
FGIC Announces TSA Termination
NEW YORK--(BUSINESS WIRE)--Financial Guaranty Insurance Company (' FGIC ') announces today that it has terminated the Transaction Support Agreement dated as of February 29, 2024 (the ' TSA '), among FGIC and certain holders of outstanding FGIC-insured securities and units issued by the Custodial Trusts holding Puerto Rico-related securities insured by FGIC, regarding a potential transaction that would have accelerated the run-off of FGIC's insured portfolio in accordance with the terms of the TSA. The termination will be effective as of May 30, 2025. While FGIC remains open to exploring potential alternative transactions, FGIC will continue the long-term run-off of its remaining insurance policies, including seeking to reduce or otherwise resolve remaining policy obligations through consensual transactions on terms that are favorable to FGIC, in accordance with the terms of the First Amended Plan of Rehabilitation for FGIC, dated June 4, 2013. About FGIC FGIC is a New York stock insurance corporation and a wholly owned subsidiary of FGIC Corporation. FGIC emerged from rehabilitation on August 19, 2013, and is responsible for administering its outstanding insurance policies in accordance with the terms of the Rehabilitation Plan. Please visit Additional Information: Weil, Gotshal & Manges LLP is serving as counsel and Houlihan Lokey Capital, Inc. is serving as financial advisor. FORWARD-LOOKING STATEMENTS This notice contains 'forward-looking statements' – that is, statements related to possible future events. Forward-looking statements often address expectations and beliefs as to future performance, results and business plans. You should not place undue reliance on forward-looking statements because they speak only as of the date they are made and are necessarily subject to risks and uncertainties that could cause actual results and performance to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are based upon FGIC management's current expectations and beliefs concerning future events. FGIC undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
Yahoo
18-03-2025
- Automotive
- Yahoo
Renesas Unveils Complete Lithium-Ion Battery Management Platform with Pre-Validated Firmware
Advanced Power Management Solutions Include Fuel Gauge ICs, MCU, Pre-Validated Firmware, Software and Documentation to Drastically Simplify Battery Pack Design ATLANTA & TOKYO, March 18, 2025--(BUSINESS WIRE)--Renesas Electronics Corporation (TSE:6723), a premier supplier of advanced semiconductor solutions, today introduced all-in-one solutions for managing lithium-ion battery packs in a wide range of battery-powered consumer products, such as e-bikes, vacuum cleaners, robotics and drones. With pre-validated firmware provided, the R-BMS F (Ready Battery Management System with Fixed Firmware) will significantly reduce the learning curve for developers, enabling rapid designs of safe, power-efficient battery management systems. Designed for lithium-ion batteries in both 2-4 and 3-10 cell series (S), R-BMS F solutions include Renesas' industry-leading fuel gauge ICs (FGICs), an integrated microcontroller (MCU) and an analog battery front end, pre-programmed firmware, software, development tools and full documentation – all available in complete evaluation kits that are now ready to ship. Renesas will showcase a live demonstration of the new BMS solutions at the Applied Power Electronics Conference (APEC) in Atlanta, GA, March 16-20 at the Renesas booth (Booth # 2021). Pre-programmed Firmware to Simplify Development Firmware is essential in battery management systems as it is used to monitor batteries' state of charge (SoC), state of health (SoH), current, and temperature, as well as actively balancing the voltages of the individual cells, and detect faults. In some cases, however, consumer electronics developers may lack the highly specialized expertise needed to develop control algorithms that keep the batteries operating in a safe temperature region and ensure adequate battery life over many charge/discharge cycles. Renesas' R-BMS F solutions include built-in, pre-tested firmware designed to work with the FGIC's on-board MCU. The firmware includes critical pre-programmed functions to maximize battery life and ensure safe operation. These include cell balancing, current control, and voltage and temperature monitoring. For added flexibility, the battery management system lets developers set many parameters to meet specific requirements and adjust the solution for different cell chemistries via a graphical user interface (GUI), without the need for a full integrated development environment (IDE). "One of the biggest bottlenecks for designing advanced power management solutions is the complex task of firmware development and validation," said Chris Allexandre, Senior Vice President and General Manager of Power at Renesas. "Not everyone has the expertise or in-house resources to write their own algorithms. Our all-in-one R-BMS F battery management system eliminates this process and provides market-ready power solutions that work without requiring specialized technical knowledge of MCU programming or advanced battery management design." All-Inclusive Evaluation Kits Ready to Ship Both R-BMS F solutions contain a full evaluation kit, which has all the hardware, software, tools and documentation required to start developing. The underlying hardware powering the R-BMS F is Renesas' FGIC solution, which combines an analog battery front end and an ultra-low-power RL78 MCU into a single, small package. The analog portion provides accurate measurements of cell voltage, current and temperature, as well as controlling the external MOSFETs and converting analog data to digital signals. The digital section is where synchronous functions reside, including the main CPU, clocks, timers and serial interfaces. Also included in the evaluation kits are: pre-programmed firmware stored in embedded flash memory with the flexibility to set the battery pack and cell chemistry parameters; the USB System Management Bus (SMBus) interface; GUI-based software; cables to communicate with the host system; dedicated development tools for parameter setting; and full documentation, including schematics and an engineering bill of materials (eBOM). With these resources, developers can confidently innovate intelligent power management systems that safely monitor battery usage and provide longevity, while reducing their impact on the environment. Renesas plans to include turn-key R-BMS F solutions in all future FGICs. 2-4 Cell Series Solution (RTK0EF0163DK0002BU) The R-BMS F for 2 to 4S cell (~8V to 16V) solutions (targets small vacuum cleaners, robotic vacuums, consumer and medical devices and runs on Renesas' RAJ240055 Li-ion battery FGIC. Renesas offers Smart Robot Vacuum Cleaner | Renesas by combining this FGIC with other devices from its portfolio. 3-10 Cell Series Solution (RTK0EF0136DK0002BU) The R-BMS F for 3 to 10S cell (~12V to 40V) solutions runs on Renesas RAJ240100 and RAJ240090 Li-ion battery FGICs, with target applications including e-bikes, e-mobility, vacuum cleaners, robotics, drones and industrial, consumer and medical systems. Renesas has combined these FGICs with other devices from its portfolio to Wall to Battery Low Power Energy Storage System and USB-PD All in One Battery and Charging Solution. These Winning Combinations are technically vetted system architectures from mutually compatible devices that work together seamlessly to bring an optimized, low-risk design for faster time to market. Renesas offers more than 400 Winning Combinations with a wide range of products from the Renesas portfolio to enable customers to speed up the design process and bring their products to market more quickly. They can be found at Availability Both R BMS-F solutions are available today in production volumes. More information about the 2-4S cell (RTK0EF0163DK0002BU) and 3-10S cell (RTK0EF0136DK0002BU) R-BMS F solutions is available. About Renesas Electronics Corporation Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at Follow us on LinkedIn, Facebook, X, YouTube, and Instagram. (Remarks) All names of products or services mentioned in this press release are trademarks or registered trademarks of their respective owners. View source version on Contacts Media Contacts: Americas Akiko IshiyamaRenesas Electronics Corporation+ Sign in to access your portfolio
