Latest news with #SONIA
Yahoo
4 days ago
- Business
- Yahoo
Inspired Announces Private Placement of £270 Million Senior Secured Notes and New £17.8 Million Credit Facility
NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) -- Inspired Entertainment, Inc. ('Inspired' or the 'Company') (NASDAQ: INSE), a leading B2B provider of gaming content, technology, hardware and services, today announced the completion of a private placement by its subsidiary of £270.0 million aggregate principal amount of senior secured notes due 2030 (the '2030 Senior Secured Notes'). In connection with the placement, certain of its subsidiaries also entered into a new £17.8 million revolving credit facility (the 'Revolving Credit Facility'), which replaces its existing, and now terminated, revolving credit facility. The 2030 Senior Secured Notes will bear interest at a floating rate equal to SONIA plus a margin ranging from 550 to 600 basis points, based on the senior secured net leverage ratio of the Company's subsidiaries that form part of the 'Group' for the purposes of the 2030 Senior Secured Notes (the 'Group'). The 2030 Senior Secured Notes will mature on June 9, 2030. The new Revolving Credit Facility will mature on December 9, 2029, and will bear interest at a floating rate based on SONIA for sterling-denominated borrowings, plus a margin of 325 to 375 basis points, also based on the Group's senior secured net leverage ratio. Inspired intends to use the proceeds from the offering of the 2030 Senior Secured Notes to (i) redeem its existing £235 million senior secured notes due June 1, 2026 and repay the £15 million loans outstanding under its existing £20 million revolving credit facility (and any accrued interest and/or fees thereon, in each case), (ii) to pay fees, commissions and expenses related to the refinancing, and (iii) for general corporate purposes. The 2030 Senior Secured Notes were purchased by Barclays Bank plc, HG Vora Special Opportunities Master Fund, Ltd., BSE Investments, Ltd. and HG Vora Opportunistic Capital Master Fund III A LP and the Revolving Credit Facility was provided by Barclays Bank plc. Stifel served as financial advisor and exclusive debt financing agent to the Company and Davis Polk acted as legal advisor to the Company. The securities referenced herein have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. About Inspired Entertainment, Inc. Inspired offers an expanding portfolio of content, technology, hardware and services for regulated gaming, betting, lottery, social and leisure operators across retail and mobile channels around the world. The Company's gaming, virtual sports, interactive and leisure products appeal to a wide variety of players, creating new opportunities for operators to grow their revenue. The Company operates in approximately 35 jurisdictions worldwide, supplying gaming systems with associated terminals and content for approximately 50,000 gaming machines located in betting shops, pubs, gaming halls and other route operations; virtual sports products through more than 32,000 retail venues and various online websites; interactive games for 170+ websites; and a variety of amusement entertainment solutions with a total installed base of more than 16,000 terminals. Additional information can be found at Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our ability to bring certain of our products to customers in the various markets in which we operate and execute on our strategic plan, statements regarding expectations with respect to potential new customers and statements regarding our anticipated financial performance. Forward-looking statements may be identified by the use of words such as 'anticipate,' 'believe,' 'continue,' 'expect,' 'estimate,' 'plan,' 'will,' 'would' and 'project' and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on Inspired management's current expectations and beliefs, as well as a number of assumptions concerning future events. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of Inspired's control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing Inspired's views as of any subsequent date. You are advised to review carefully the 'Risk Factors' section of Inspired's annual report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent quarterly reports on Form 10-Q, which are available, free of charge, on the U.S. Securities and Exchange Commission's website at Inspired does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law. Contact:For InvestorsIR@ (646) 277-1285 For Press and Salesinspiredsales@
Yahoo
03-04-2025
- Business
- Yahoo
How Trump's tariffs may accidentally 'help UK buyers by lowering mortgage rates'
In an unexpected twist, President Trump's tariffs may actually be the thing that helps UK buyers by lowering mortgage rates, say experts. It's all down to SONIA swap rates (very broadly speaking, this is how much banks pay for sterling overnight), which have fallen this morning following Liberation Day in the US. According to Bloomberg, traders are now pricing in nearly 63 basis points of cuts from the Bank of England with the expectation of three rate cuts this year. The result? Potentially cheaper mortgages for UK homeowners - albeit with worse rates for savers if rates fall. 🚨 #TrumpTariffs: Economic genius or global disaster? 10% import tax + 34% on China = higher prices for YOU. Markets tank, jobs at risk—yet Trump calls it 'Liberation.' Thoughts? @zerohedge @MartiniGuyYT @Reuters @BBCBreaking — Daily Viral Clips. (@dailyviralclip) April 3, 2025 Pete Mugleston, Mortgage Advisor & Managing Director at Online Mortgage Advisor, explains: "Falling SONIA swap rates and expectations of multiple Bank of England rate cuts could be great news for the UK property market. "If Trump's tariffs slow global growth, prompting rate cuts, it may indirectly help UK buyers by lowering mortgage rates. First-time buyers and homeowners could benefit from improved affordability, potentially sparking a flurry of market activity, especially among those waiting for rates to fall. "While his intentions may not have been to boost the UK housing market, Trump's actions could result in a ripple effect that could create opportunities for buyers and encourage lenders to reprice products more competitively in the months ahead." Martin Lewis: Biggest factor to change mortgage rates Nationwide scam warning issued by bank's head of fraud DWP State Pension age will have to rise to 71 says report Riz Malik, Independent Financial Adviser at R3 Wealth agrees: "Trump's trade rhetoric may have rattled global markets, but it could end up offering a silver lining for UK mortgage holders. "Falling swap rates suggest lenders may soon reduce fixed-rate mortgage pricing, easing pressure on homeowners already hit by rising household bills and Reeves' budget. "While the full economic impact of US tariffs is still unclear, a more competitive mortgage market would be a timely boost for the UK housing sector. President Trump may have earned his state visit after all." But, it's not entirely good news, as Stephen Perkins, Managing Director at Yellow Brick Mortgages explains: "There has been an equilibrium between the desire to help an ailing economy with rate cuts and the need to keep inflation down with rate holds at the Bank of England of late, with predictions of only a couple of reductions in 2025. The delivery was pure Trump. Flanked by steelworkers and farmers, he railed against 'globalist sellouts' and past administrations. 'This is liberation from bad deals.' 'Biden wouldn't have the guts.' He's promising a manufacturing renaissance. — Riccardo (@Ric_RTP) April 3, 2025 "President Trump's tariffs have taken a sledgehammer to the scales of that equilibrium and damaged the world economy, so now there is growing pressure on more rate reductions this year to provide life support to the UK economy to compensate for the impact of the tariffs." Jason Hollands, managing director of investment platform Bestinvest by Evelyn Partners, says the Bank of England 'faces a dilemma – on the one hand, tariffs are going to lift the prices of some goods and it has a job to keep the lid on inflation so may keep rates higher for longer, but on the other hand it will want to support the economy from sinking into recession. 'My hunch is that they will regard price spikes related to the implementation of tariffs as a one-off shock and focus more on the risk of economic stagnation. We could therefore see interest rates come down more rapidly than expected. 'The hit to the economy from a global trade war could leave (Chancellor) Rachel Reeves' plans in tatters'. Mr Hollands suggested one option might be to freeze tax allowances and thresholds beyond 2028, 'leading to more and more people slipping deeper into income tax by stealth'.
Yahoo
03-04-2025
- Business
- Yahoo
Intercontinental Exchange Reports March and First Quarter 2025 Statistics
Record Q1 total Futures & Options ADV, including records across Global Commodities, Energy and Financials ATLANTA & NEW YORK, April 03, 2025--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today reported March 2025 trading volume and related revenue statistics, which can be viewed on the company's investor relations website at in the Monthly Statistics Tracking spreadsheet. "Twenty-five years ago, ICE began building a derivatives platform to serve customers' evolving risk management needs, and today, we are the home to benchmarks such as Brent, TTF and Euribor, used by customers across the world to address their hedging needs," said Ben Jackson, President of ICE. "The support from our customers has created the depth of liquidity that our markets offer, and we thank them for making the first quarter of 2025 the highest traded volume quarter in ICE's history." March highlights include: Record total average daily volume (ADV) up 31% y/y; open interest (OI) up 11% y/y, including record OI of 103.4M lots on March 13 Energy ADV up 24% y/y; OI up 11% y/y, including record OI of 67.6M lots on March 25 Total Oil ADV up 7% y/y; OI up 14% y/y, including record OI of 16.3M lots on March 25 Brent ADV up 4% y/y; OI up 10% y/y WTI* ADV up 12% y/y; OI up 35% y/y Record Midland WTI ADV up 184% y/y; OI up 91% y/y Gasoil ADV up 6% y/y; OI up 17% y/y Other Crude & Refined products ADV up 12% y/y; OI up 13% y/y, including record OI of 7.6M lots on March 28 Total Natural Gas ADV up 54% y/y; OI up 10% y/y, including record OI of 45.3M lots on March 25 North American Gas ADV up 64% y/y; OI up 9% y/y, including record OI of 39.3M lots on March 25 TTF Gas ADV up 32% y/y; OI up 16% y/y, including record OI of 5.1M lots on March 26 Asia Gas ADV up 6% y/y; OI up 49% y/y, including record OI of 168k lots on March 13 Total Environmentals ADV up 8% y/y; OI up 20% y/y Sugar ADV up 12% y/y Cotton ADV up 13% y/y; OI up 8% y/y Record Financials ADV up 47%; OI up 17% y/y Record Interest Rates ADV up 55% y/y; OI up 22% y/y Record Euribor ADV up 64%; OI up 9% y/y SONIA ADV up 34% y/y; OI up 29% y/y, including record OI of 9.8M lots on March 13 Gilts ADV up 12%; OI up 76% MSCI ADV up 23%; OI up 7% NYSE Cash Equities ADV up 23% y/y First quarter highlights include: Record total ADV up 23% y/y Record Energy ADV up 24% y/y Record Oil ADV up 18% y/y Record Brent ADV up 17% y/y Record WTI* ADV up 29% y/y Record Midland WTI ADV up 184% y/y Gasoil ADV up 7% y/y Record Other Crude & Refined products ADV up 26% y/y Record Natural Gas ADV up 33% y/y North American Gas ADV up 30% y/y, including record options of 549k lots Record TTF Gas ADV up 44% y/y Record Asia Gas ADV up 28% y/y Total Environmentals ADV up 15% y/y Sugar ADV up 20% y/y Record Financials ADV up 28% y/y Record Interest Rates ADV up 31% y/y Total Euribor ADV up 29% y/y Record SONIA ADV up 31% y/y Gilts ADV up 8% y/y MSCI ADV up 14% y/y NYSE Cash Equities ADV up 20% y/y NYSE Equity Options ADV up 8% y/y * Combined OI and volumes of WTI and ICE HOU About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)." Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025. Category: Corporate SOURCE: Intercontinental Exchange ICE-CORP View source version on Contacts ICE Investor Relations Contact:Katia Gonzalez+1 678 981 investors@ ICE Media Contact:Rebecca Mitchell+44 207 065 media@ Sign in to access your portfolio
Bloomberg
06-02-2025
- Business
- Bloomberg
BOE's Liquidity Drain Is Finally Lifting Key SONIA Rate Again
The UK's most important market interest rate is rising for the first time in almost a year, reflecting the Bank of England's ongoing efforts to drain excess liquidity from the financial system. The Sterling Overnight Index Average, or SONIA, rose for five sessions through Tuesday — the first consecutive gains since April, according to the latest data. That broke an abnormal paralysis where it was stuck exactly five basis points below the BOE's key rate for months.
