Latest news with #TCWGroup
Yahoo
28-07-2025
- Business
- Yahoo
Why Are Super Micro (SMCI) Shares Soaring Today
What Happened? Shares of server solutions provider Super Micro (NASDAQ:SMCI) jumped 7.2% in the afternoon session as investor optimism continued to grow ahead of its upcoming earnings report and continued strength in the artificial intelligence sector. The AI server maker announced it would release its fourth-quarter results on August 5, with investors anticipating positive news. The stock's climb was also supported by the broader boom in demand for artificial intelligence infrastructure, which benefited companies in the sector. Adding to the positive sentiment, institutional investors showed increased confidence in the company. For example, TCW Group Inc. acquired a new stake valued at approximately $7.36 million during the first quarter. This investor enthusiasm came as the stock built on recent momentum, having already gained significantly over the past month. Is now the time to buy Super Micro? Access our full analysis report here, it's free. What Is The Market Telling Us Super Micro's shares are extremely volatile and have had 87 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 13 days ago when the stock gained 7.5% on the news that broader positive trend among U.S. chipmakers. The server and storage solutions specialist, known for its focus on AI-related hardware, is benefiting from continued investor enthusiasm for the artificial intelligence sector. Supermicro provides customizable rack servers that are crucial for AI-accelerated data centers, and its use of popular AI-GPUs has driven strong sales. Wall Street analysts forecast significant sales growth for the company in fiscal years 2025 and 2026. Super Micro is up 97% since the beginning of the year, but at $59.19 per share, it is still trading 15.6% below its 52-week high of $70.17 from July 2024. Investors who bought $1,000 worth of Super Micro's shares 5 years ago would now be looking at an investment worth $21,032. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Sign in to access your portfolio
Yahoo
01-07-2025
- Business
- Yahoo
CVG Announces Successful Completion of Debt Refinancing Transactions
Refinancing extends maturity to 2030 and increases flexibility NEW ALBANY, OHIO, June 30, 2025 (GLOBE NEWSWIRE) -- Commercial Vehicle Group (together with its subsidiaries, the 'Company' or 'CVG') (NASDAQ: CVGI), a diversified industrial products and services company, today announced that on June 27, 2025 it had closed on $210 million in senior secured credit facilities, consisting of (i) a $95 million senior secured term loan facility (the 'Term Loan') with TCW Asset Management Company LLC (together with certain of its affiliates, the 'TCW Group'), as agent, and (ii) a $115 million senior secured asset-based revolving credit facility (the 'ABL Facility' and together with the Term Loan, the 'Senior Secured Credit Facilities') with Bank of America, N.A., as agent. The ABL Facility amended and restated the Company's existing senior secured revolving credit facility with Bank of America, N.A., as agent (the 'Existing Facility'), and a portion of the proceeds of the Senior Secured Credit Facilities was used to refinance outstanding obligations under the Existing Facility in an aggregate principal amount of $120,100,000. Andy Cheung, Chief Financial Officer, said, 'We are pleased to announce the successful refinancing of our debt facilities maturing in 2027, which marks an important milestone as we continue to advance our strategic operational initiatives. The new facilities provide a long runway of funding certainty and increased financial flexibility as we look to drive further cost reductions, margin improvement, and overall operational efficiency. Moving forward, we remain committed to deleveraging the balance sheet through free cash generation and disciplined debt paydown.' Term Loan of $95 million Obligations under the Term Loan will mature on June 27, 2030. The Term Loan will have tiered interest costs based on the consolidated total leverage ratio ranging from SOFR plus 8.75% with a leverage ratio < 3.50x to SOFR plus 10.75% with a leverage ratio > 6.25x. The SOFR floor is 2.00%. The initial interest rate payable under the Term Loan is SOFR plus 9.75%. Until June 28, 2028, voluntary prepayments of the Term Loan are subject to a premium, calculated as a percentage of the obligations so prepaid under the Term Loan, equal to (x) from June 27, 2025 until June 27, 2027, 4.00%, (y) from June 28, 2026 until June 27, 2028, 2.00% and (z) thereafter, none. The Term Loan is also subject to an excess cash flow sweep and certain other customary mandatory prepayment requirements. The Term Loan will be subject to certain financial covenants: a consolidated total leverage ratio covenant, tested quarterly, which will be initially set at 7.25x, with step-downs to 6.50x at December 31, 2025, 6.00x at March 31, 2026, 5.25x at June 30, 2026, and additional quarterly 0.25x step-downs until a ratio of 4.00x applicable from and after September 30, 2027. a maximum consolidated capital expenditure covenant, capped at $20 million in any fiscal year, and a sublimit of $10 million for foreign capital expenditures. a 30-day rolling minimum average liquidity requirement of $15 million. ABL Facility of $115 million Obligations under the ABL Facility will mature on June 27, 2030, springing to the date that is 91 days prior to the maturity of the Term Loan. The initial principal amount of the ABL Facility is $115 million, subject to availability under a borrowing base based on the Company's US and UK inventory and receivables. The ABL Facility comprises of a US subfacility in an initial principal amount of $100 million (the 'US Subfacility') and a UK subfacility in an initial principal amount of $15 million (the 'UK Subfacility'), in each case subject to availability under their respective borrowing bases. The US Subfacility further has a FILO tranche in a principal amount of $12.5 million, subject to availability under its borrowing base. The ABL Facility will be available in US Dollars, Pounds Sterling and Euros, and borrowings will accrue interest at SOFR, SONIA or EURIBOR, with margins based on average daily availability ranging from 1.50% if average daily availability > $50 million to 2.00% if average daily availability < $30 million. The FILO tranche will accrue interest at a 1% higher rate. The Company is also required to pay an unused line fee of 0.25% on any unutilized commitments under the ABL Facility. The Company will be required to comply with a maximum fixed charge coverage ratio of 1.00x, tested quarterly, during any trigger period. Such period shall be triggered upon availability dropping below the greater of 10% of the line cap and $10 million, and such period shall end upon availability exceeding this threshold for 30 consecutive days. Warrants In connection with the financing, TCW Group affiliates received five-year warrants for the purchase of up to 3,934,776 shares of the company's common stock, issued in two equal tranches. The tranches have an exercise price of $1.58 and $2.07, respectively. Until the fourth anniversary after issuance, the Company has the right to repurchase up to 50% of each tranche of warrants at a price equal to $1.40 or $1.00, respectively, above the applicable exercise price. Upon a refinancing of the new credit agreement, the holders can require the Company to repurchase up to 50% of each tranche at a price equal to the stock price of the common stock at the time of repurchase less the exercise price. The warrants contain customary anti-dilution adjustments. The Company has provided the holders with certain information and registration rights, including agreeing to file a registration statement within 45 days to register the resale of the shares underlying the warrants. The Company will file a Current Report on Form 8-K with the United States Securities Exchange Commission that will contain further details regarding the terms of the of the transactions. Company ContactAndy CheungChief Financial OfficerCVGIR@ Investor Relations ContactRoss Collins or Stephen PoeAlpha IR GroupCVGI@ About CVG CVG is a global provider of systems, assemblies and components to the global commercial vehicle market and the electric vehicle market. We deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries and communities we serve. Information about the Company and its products is available on the internet at Forward-Looking Statements This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as 'believe', 'anticipate', 'plan', 'expect', 'intend', 'will', 'should', 'could', 'would', 'project', 'continue', 'likely', and similar expressions. In particular, this press release may contain forward-looking statements about the Company's expectations for future periods with respect to its plans to improve financial results, the future of the Company's end markets, changes in the Class 8 and Class 5-7 North America truck build rates, performance of the global construction and agricultural equipment business, the Company's prospects in the wire harness, and electric vehicle markets, the Company's initiatives to address customer needs, organic growth, the Company's strategic plans and plans to focus on certain segments, competition faced by the Company, volatility in and disruption to the global economic environment and the Company's financial position or other financial information. These statements are based on certain assumptions that the Company has made in light of its experience as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including those included in the Company's filings with the SEC. There can be no assurance that statements made in this press release relating to future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by such cautionary in to access your portfolio
Business Wire
16-06-2025
- Business
- Business Wire
TCW Launches $370 Million Core Plus Fixed Income ETF
LOS ANGELES--(BUSINESS WIRE)--The TCW Group, a leading global investment firm, today announced that it has completed the conversion of the TCW MetWest Intermediate Bond Fund (Ticker: MWIIX) into a new exchange-traded fund (ETF), the TCW Core Plus Bond ETF (Ticker: FIXT). FIXT is the newest addition to TCW's suite of actively managed ETFs, which seek to provide investors with the benefits of transparency, low cost, intra-day trading and flexibility. FIXT is a core plus fixed income ETF designed to help maximize total return while maintaining broad market exposure. The fund invests across a broad range of fixed income sectors, allowing the investment team to opportunistically shift allocations based on changing market conditions. 'The conversion of FIXT continues our more than 50-year heritage in providing world-class products that allow investors to capitalize on attractive alpha opportunities while actively seeking to mitigate downside risk,' said Jennifer Grancio, Global Head of Distribution at TCW. 'TCW has more than doubled its ETF assets since last year, and we see continued strong interest in our suite of active ETFs as investors and advisors seek attractive yield and total return for their portfolios.' FIXT is TCW's seventh fixed income ETF since the launch of its fixed income ETF platform in mid-2024. TCW's other fixed income ETFs are the TCW Flexible Income ETF (FLXR), TCW AAA CLO ETF (ACLO), TCW Corporate Bond ETF (IGCB), TCW High Yield Bond ETF (HYBX), TCW Multisector Credit Income ETF (MUSE), and TCW Senior Loan ETF (SLNZ). TCW's fixed income ETF platform today manages over $2 billion in assets. 'Our active approach and track record in managing through changing market environments allows us to be nimble in seeking to be overweight more favorable opportunities while underweighting less appealing market segments,' said Bryan Whalen, Chief Investment Officer of TCW. 'FIXT provides investors the potential for attractive returns while providing ballast in a diversified portfolio.' About The TCW Group TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its TCW MetWest Funds, TCW Funds and ETF suite, TCW manages one of the largest fund complexes in the U.S. TCW's clients include many of the world's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit Before investing you should carefully consider the fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest. INVESTMENT RISKS TCW Core Plus Bond Fund ETF (FIXT) is subject to the following risks: High yield securities may be subject to greater fluctuations in value and risk of loss of income and principal than higher-rated securities. It is important to note that the Fund is not guaranteed by the U.S. Government. Fixed income investments entail interest rate risk, the risk of issuer default, issuer credit risk, and price volatility risk. Funds investing in bonds can lose their value as interest rates rise and an investor can lose principal. Mortgage-backed and other asset-backed securities often involve risks that are different from or more acute than risks associated with other types of debt instruments. MBS related to floating rate loans may exhibit greater price volatility than a fixed rate obligation of similar credit quality. With respect to non-agency MBS, there are no direct or indirect government or agency guarantees of payments in pools created by non-governmental issuers. Non-agency MBS are also not subject to the same underwriting requirements for the underlying mortgages that are applicable to those mortgage-related securities that have a government or government-sponsored entity guarantee. The Fund's investments denominated in foreign currencies will decline in value if the foreign currency declines in value relative to the U.S. dollar. Fund share prices and returns will fluctuate with market conditions, currencies, and the economic and political climates where the investments are made. The securities markets of emerging market countries can be extremely volatile. Mortgage-backed and other asset-backed securities often involve risks that are different from or more acute than risks associated with other types of debt instruments. All investing involves risk including the potential loss of principal. Market volatility may significantly impact the value of your investments. Recent tariff announcements may add to this volatility, creating additional economic uncertainty and potentially affecting the value of certain investments. Tariffs can impact various sectors differently, leading to changes in market dynamics and investment performance. Please see the Fund's Prospectus for more information on these and other risks. The Fund is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE © 2025 TCW Group. All rights reserved.
Business Wire
13-06-2025
- Business
- Business Wire
TCW to Change Listing Exchange of Equity ETFs to NASDAQ
LOS ANGELES--(BUSINESS WIRE)--The TCW Group, a leading global asset management firm, today announced that, effective June 27, 2025, the listing exchange for shares of each of the following series (each, an 'ETF' and, collectively, the 'ETFs') of TCW ETF Trust (the 'Trust') will be changed from the New York Stock Exchange to the NASDAQ. The ETFs will begin trading on the NASDAQ as of the open of trading on June 27, 2025. Shareholders of each of the ETFs are not anticipated to be impacted or need to take any action in connection with the change in listing exchange. The ticker of each ETF will remain the same. About The TCW Group TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its TCW MetWest Funds, TCW Funds and ETF suite, TCW manages one of the largest fund complexes in the U.S. TCW's clients include many of the world's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit Before investing you should carefully consider the fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest. Investments involve risk. Principal loss is possible. The Funds are advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. Effective October 13, 2023, TCW acquired the Transform ETF business from Engine No. 1 and the funds' adviser became TCW Investment Management Company LLC. Prior to that date, the fund's adviser was Fund Management at Engine No. 1 LLC. © 2025 TCW Group. All rights reserved.
Yahoo
19-05-2025
- Business
- Yahoo
TCW Names Scott Dennis Head of ETFs
Former BlackRock ETF Executive to Further Expand TCW's Rapidly Growing ETF Offerings LOS ANGELES, May 19, 2025--(BUSINESS WIRE)--The TCW Group, a leading global asset manager, today announced that it has named Scott Dennis as the firm's Head of Exchange Traded Funds (ETFs). In this role, he will oversee ETF Capital Markets across asset classes as well as TCW's ETF strategy and business execution. He is based in the firm's Boston office and reports to Jennifer Grancio, Global Head of Distribution. Dennis' appointment comes as TCW has seen significant growth in both the number of ETFs it offers and assets. Since entering the ETF business in 2023, TCW's offerings have rapidly grown to six fixed-income and five equity ETFs, with assets above $3 billion. TCW's flagship fixed income ETF, the TCW Flexible Income ETF (FLXR), has seen its assets triple in the past year to more than $1 billion and is now the fifth-largest ETF in its category. "More and more investors and financial advisors are looking to TCW to provide a diversity of ETFs that offer active management, intraday liquidity, and tax efficiency," said Grancio. "As we plan an expansion of our platform in the coming year and beyond, Scott will be an integral leader as we take our ETF offerings into an exciting new stage of growth to meet this tremendous investor demand." Dennis joins TCW after 16 years at BlackRock in its iShares business, where he was a core member of the team that built its over $1 trillion fixed income ETF platform, focusing on ETF capital markets, distribution, and trading strategy. Most recently, he led the iShares Insurance Solutions Business, where he was responsible for growing ETF usage on insurance general account balance sheets as well as overseeing the accounting and regulatory initiatives for ETF usage across the insurance industry. During his tenure at BlackRock, he held several leadership positions in the iShares business as the Head of Wealth Capital Markets, iShares Markets Coverage and iShares Fixed Income Capital Markets. Prior to BlackRock, Dennis worked at Morgan Stanley in fixed income institutional sales and trading and Bloomberg's trading systems group. He earned his Bachelor of Arts degree from Lafayette College. "TCW has emerged as one of the most exciting and innovative ETF issuers over the past few years, building on its 50-plus year heritage as a trusted asset manager," Dennis said. "I look forward to contributing to this team as we build on these recent successes by offering more active investment opportunities and grow assets." About The TCW Group TCW is a leading global asset management firm with a broad range of products across fixed income, alternative investments, equities, and emerging markets with over half a century of investment experience. Through its ETF suite, TCW MetWest Funds and TCW Funds, TCW manages one of the largest fund complexes in the U.S. TCW's clients include many of the world's largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit Disclosures: Before investing you should carefully consider the fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from Please read the prospectus carefully before you invest. This material is for general information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. TCW, its officers, directors, employees or clients may have positions in securities or investments mentioned in this publication, which positions may change at any time, without notice. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and should not be relied on as such or be the basis for an investment decision. The information contained herein may include preliminary information and/or "forward-looking statements." Due to numerous factors, actual events may differ substantially from those presented. TCW assumes no duty to update any forwardlooking statements or opinions in this document. Any opinions expressed herein are current only as of the time made and are subject to change without notice. Past performance is no guarantee of future results. Investments involve risk. Principal loss is possible. The Fund is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC. NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE © 2025 TCW Group. All rights reserved. View source version on Contacts Media Contact:Doug MorrisHead of Corporate CommunicationsTel: 213-244-0509
