Latest news with #JLM
Yahoo
20-05-2025
- Business
- Yahoo
The Republic of Iceland marked a highly successful return to the Capital Markets in 2025 with a new €750 million 5-year bond
Issuer: Republic of Iceland Issuer Rating: A1/A+/A Size: EUR750 million Lead Managers: Barclays, BNP Paribas, Citi, JP Morgan Pricing Date: 20 May 2025 Settlement Date: 27 May 2025 Maturity Date: 27 May 2030 (T+4) Coupon: 2,625% Spread to mid-swaps: m/s+42bps Spread to benchmark: OBL 2.400% Apr-30 +52.3bps Re-offer price: 99,783% Re-offer yield: 2,672%Transaction Summary On Tuesday, 20th May 2025, the Republic of Iceland, rated A1 /A+ /A (stab/stab/stab) successfully returned to the Euro debt capital markets with a new EUR750 million benchmark due 27th May 2030. The transaction was priced with minimal new issue concession at m/s+42bps, equivalent to a spread of 52.3bps vs the OBL 2.400% Apr-30, whilst amassing over EUR4.3 billion of high-quality orders. This represents the largest conventional orderbook on record for the Republic. Joint lead managers for the new issue were Barclays, BNP, Citi and JP Morgan. Pricing and Execution: On 19th May 2025 at 09:23 UKT, the mandate was announced for a new 5-year Euro-denominated benchmark with 1-on-1 investor calls held with representatives of the Republic throughout the day. The Republic of Iceland concurrently announced an any-and-all tender offer for its EUR500 million 0.625% Notes due 3 June 2026, expiring 5.00pm CEST on Friday, 23rd May 2025. Following positive investor engagement overnight, initial guidance was released to the market the following day at 08:14 UKT at m/s+50bps area. With orders accelerating in excess of EUR2.8 billion (excl. JLM interest), the Republic revised guidance 5bps tighter to m/s+45bps area (+/- 3bps WPIR) at 10:35 UKT. The high-quality demand supported setting the final size at this stage which was communicated at EUR750 million. At 11:17 UKT, the high-quality orderbook surpassed EUR3.6 billion (excl. JLM interest) which enabled the spread to be set at m/s+42bps. This represented minimal new issue premium vis-à-vis the issuers EUR curve. Books officially closed at 11:45 UKT with orders above EUR4.3 billion (excl. JLM interest). This represents the largest conventional ICELND orderbook on record, with only the inaugural Green 10-year ICELND benchmark due Mar-34 attracting higher total demand. At 14:05 UKT, the new EUR750 million 2.625% May 2030 ICELND benchmark was priced at m/s+42bps with a re-offer yield of 2.672% p.a. Distribution: This transaction confirms the strong investor demand for the Republic of Iceland's credit in the international investor community, with a wide range of investors participating across the United Kingdom and Europe. Accounts from Germany / Austria / Switzerland received 25% of the allocations, Nordics 21%, UK 16%, Sothern EU 13%, Benelux 11%, France 8% and 6% to Others. By investor type, Fund Managers led the book with 53% of allocations, followed by Central Banks / Official Institutions with 17%, while Banks received 17% and Insurance / Pensions took 12%. Hedge Funds rounded out the remainder of the book with 1% allocation Attachment 250520 Iceland EUR750mn 5-year (May-30) - Final Press Release
Barnama
21-04-2025
- Business
- Barnama
Over 16,000 Ferry Tickets Sold Ahead Of LIMA '25
GENERAL ALOR SETAR, April 21 (Bernama) -- A total of 16,116 ferry tickets for routes from Kuala Perlis and Kuala Kedah to Langkawi, and vice versa, have been sold ahead of the Langkawi International Maritime and Aerospace Exhibition 2025 (LIMA '25), scheduled to take place from May 20 to 24. Ferry Line Ventures Sdn Bhd operations manager Lt Commander (Rtd) Norhafiz Abdul Wahid said the tickets were purchased through online platforms and at physical counters. 'A total of 31 trips will be operated daily during the five-day event, totalling 155 trips. The ferry service can accommodate up to 15,000 passengers per day, allowing a total of 75,000 people to attend LIMA '25,' he said in a statement today. Norhafiz added that the Malaysian Marine Department (JLM) has approved ferry operations from 7 am to 10 pm during the exhibition period. 'JLM has also approved ferry operations to continue until midnight. However, we will only increase the number of trips depending on ticket demand, which may spike in the coming days. 'There is no issue to operate at full capacity but the concern among captains is the high risk associated with night-time navigation. Nonetheless, we will continue to enhance readiness and maintain vigilance to prevent any untoward incidents,' he said. Meanwhile, Norhafiz said dredging works at the entry and exit channel in Kuala Perlis are expected to be completed before LIMA '25, while similar works in Kuala Kedah are still ongoing. 'As for passenger overflow at the terminal, it will not be a major issue as we are working closely with JLM, the People's Volunteer Corps and security personnel to help manage the crowd,' he added. -- BERNAMA
Zawya
11-03-2025
- Business
- Zawya
UAE's Aldar Investment's $500mln green sukuk has books over $2bln
Abu Dhabi-based Aldar Investment Properties, which is marketing $500 million 10-year senior green sukuk, has books at over $2 billion, excluding joint lead manager (JLM) interest. Initial price thoughts for the Regulation S, no-grow issuance is in the US Treasuries plus 140 basis points (bp) area. Aldar Investment Properties Sukuk will be the trustee and Aldar Investment Properties the obligor. Proceeds will be used for eligible projects under Aldar Investment Properties' green finance framework. JP Morgan and Standard Chartered are joint global coordinators, as well as joint lead managers and bookrunners with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital, Mashreq and Sharjah Islamic Bank. In January, Aldar Properties, the developer and real estate asset manager, raised $1 billion through its first-ever hybrid bond issuance. The company also raised $2.45 billion in a sustainability-linked revolving credit facility to support its liquidity. (Writing by Brinda Darasha; editing by Seban Scaria)
New York Times
20-02-2025
- Business
- New York Times
Hayley Paige Reclaims Her Name and Bridal Brand
In 2011, Hayley Paige, a then-unknown 24-year-old bridal designer, began her career in bridal fashion with JLM Couture in New York. She went on to build a bridal brand synonymous with dreamy, modern gowns — until she lost her rights to it. 'I had a false sense of security,' said Ms. Paige, now 39, who had signed a contract with JLM Couture, a wedding wear designing, manufacturing and distributing company, back then without having a lawyer review it. 'It gave them the right for my name to be trademarked because it was the name of the collection.' In 2015, in accordance with the contract terms, a three-year extension kicked in. (During that time, she got married in 2015 and divorced in 2018.) By March of 2019, she started negotiating a new contract with a lawyer, 'thinking this is going to be easy. I was bringing in licensing deals and getting influencer opportunities,' she said of her added value to the brand. 'I'd outgrown my original position. A reset needed to happen.' Negotiations continued until December 2020, when Ms. Paige was hit with an unexpected 100-plus page lawsuit from JLM Couture, claiming trademark infringement, violation of the noncompete agreement, and the promoting of other companies without the brand's permission. 'It even claimed they owned my name,' Ms. Paige said. An emergency hearing was granted two days later. Both sides hired litigation teams. Ms. Paige, whose legal name is Hayley Paige Gutman, said she felt victimized 'when a federal judge ruled in 2020 that I could no longer use my name in any business, commerce or to publicly identify myself because of ownership of using the trademark.' She added that she also 'lost the right to control my social media accounts. Then they prevented me from designing wedding dresses.' In October 2023, JLM Couture filed for Chapter 11 bankruptcy and announced in a news release that they would be restructuring their business. JLM Couture did not respond to a request for comment. Ms. Paige never stopped fighting. In May, after a four-year public legal battle, Ms. Paige regained the use of her name and brand in a court-approved settlement. From her in-house design studio in Palm Beach, Fla., where she now resides with her fiancé, Conrad Clevlen, 36, a real estate investor, she shared her journey to reclaim her name and brand, her new partnership with Madi Lane Bridal, a manufacturing and distribution bridal company in Australia and her forthcoming bridal collections. This interview was edited and condensed for clarity. We got a new judge and an opportunity for a settlement. I paid JLM $263,000 to get back my entire intellectual portfolio, including my name, designs and anything encompassing of the brand. It's not just my name I got back, but my ability to work, to be allowed to tap into my design aesthetic, to own my art. I fought to get back my social media accounts, which were done in the appellate court. They ruled in my favor, stating that whoever opened the account owned the account. For a long time, I was in a purgatory survival mode. I couldn't bring in income, or sketch a dress because that was considered promotional, or use my name. I needed a new strategy so I could keep creating and moving forward. I had a huge shift in 2022. In order to move forward with my life, I had to detach from this idea of Hayley Paige. I didn't need to be a wedding designer as my identity. I was only allowed to do something noncompetitive. I started the shoe company She Is Cheval, French for horse. I studied French couture and loved the Parisian influence. It became my moniker to be strong. Shoes were a great accessory to a dress, and it was a transferable skill set. Shoes felt like I was owning my destiny, my life and my creativity. More talent is coming to the marketplace. There's a huge overflow of products paired with dilution. Brides became more educated regarding what they want. Expectation for a quicker turnaround is greater. Brides don't want to wait a year for their dress. That window has shortened to six to eight months. The new launch will be signature to the DNA of Hayley Paige — splashes of color, textural juxtapositions, novelty beadwork, and thoughtful detail in the embroidery. I plan to have rompers and mini versions of the dresses. Maybe it's an engagement outfit or something that you can wear as a second dress or a second look for a bachelorette party. We will do an industry sneak peek, sharing designs during New York Fashion Week and reintroducing the brand to bridal stores. We will be having a public launch and debut in August or September. The goal is to have dresses in stores by that time. Inspiration comes from the nuances of design in this collective collection, so not everything has to go together. I'm inspired by the print design I did for Cheval. I created a French toile pattern that told the story of my creative journey, but in scenes. I want to continue with that, which I'll incorporate into fabrics and into the actual material of the dresses to help tell the story, which has changed over the past four years. I'm planning to rebrand Cheval. I want there to be synergy between the two brands, so we'll be releasing bridal-specific shoes that go with the new Hayley Paige dresses and handbags. I relied on social media in the past, and it was a great way to communicate. But it feels diluted now. I want to do more in-person events, real canvassing and brand activations. Now that I've gone outside of the bridal space, and done shoes, I have more of a returning customer, not just a bride, so I'll be doing events that are more of a sisterhood. In the low moments where your soul feels like it's on its knees, you have to maintain your enthusiasm and your love for what you do. I still feel very connected to who I am and my craft. I've learned a lot of really good lessons about not trusting everyone and that a lot of people will take kindness as a weakness. It doesn't mean that you can't fight back when the time requires it. I fought hard for something I believed in. I learned reinvention doesn't mean you have to become somebody new.
Zawya
12-02-2025
- Business
- Zawya
Saudi Electricity prices USD sukuk amid strong demand
State-owned utilities firm Saudi Electricity Co. (SEC) has priced its Regulation S senior unsecured USD dual-tranche sukuk amid strong demand. The five-year sukuk is priced at Treasuries + 85 basis points (bps) with a profit rate of 5.225% while the 10-year green sukuk is priced at UST+95 bps with a profit rate of 5.489%. The order books were in excess of $6.1 billion, excluding joint lead manager (JLM) interest for the 5-year and over $5.5 billion (excluding JLM interest) for the 10-year. (Writing by Brinda Darasha; editing by Seban Scaria)
