Latest news with #VNO
Yahoo
3 days ago
- Business
- Yahoo
Vornado's Joint Venture Boosts Strength With $675M Refinancing
Vornado Realty Trust, Inc. VNO announced that its joint venture (JV), in which it holds a 50.1% stake, has completed a refinancing of $675 million for Independence Plaza, a residential complex comprising 1,328 units located in the Tribeca submarket of Manhattan. The five-year interest-only loan is set to mature in June 2030 and carries a fixed interest rate of 5.84%. This loan serves as a replacement for the previous $675 million loan, which had an interest rate of 4.25% and was due to mature in July 2025. This refinancing offers Vornado enhanced financial flexibility. The extended maturities of the assumed debt will help the company improve its maturity profile and enjoy greater liquidity for day-to-day operations. VNO makes efforts to boost its cash flow and alleviate bottom-line pressure. Further, it focuses on achieving greater financial flexibility and strengthening its balance sheet position. As of March 31, 2025, the company had $2.3 billion of liquidity, consisting of $807 million of cash and cash equivalents and restricted cash, and $1.5 billion available under its $2.2 billion revolving credit facilities. Over the past three months, shares of this Zacks Rank #3 (Hold) company have declined 1.6% compared with the industry's fall of 1.6%. Image Source: Zacks Investment Research Some better-ranked stocks from the broader REIT sector are VICI Properties VICI and W.P. Carey WPC, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for VICI's 2025 FFO per share has moved one cent northward to $2.34 over the past two months. The consensus estimate for WPC's 2025 FFO per share has been revised upward by 1% to $4.88 over the past month. Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vornado Realty Trust (VNO) : Free Stock Analysis Report W.P. Carey Inc. (WPC) : Free Stock Analysis Report VICI Properties Inc. (VICI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
19-02-2025
- Business
- Yahoo
Sinch Delivers Charging and Policy Control for Huge NXTGN Digital MVNE Stack in South African Market
STOCKHOLM, Feb. 19, 2025 /PRNewswire/ -- Sinch (Sinch AB (publ)) – (XSTO: SINCH), which is pioneering the way the world communicates through its digital Customer Communications Cloud, is pleased to provide critical real-time charging, policy control, and messaging solutions which has enabled Huge NXTGN to launch its advanced digital VNE platform. Huge NXTGN's digital VNE platform empowers businesses in South Africa to deliver value-added digital connectivity services, enabling them to create distinctive customer experiences. The platform significantly reduces go-live time to just a few weeks, compared to the months traditionally required. Huge NXTGN, a Johannesburg-based leader in digital and embedded communications services and part of the publicly listed Huge Group Limited's investment portfolio, is revolutionizing the Virtual Network Enabler (VNE) landscape in South Africa. By enabling businesses of all sizes—micro, mini, and large—to seamlessly launch VNO services on-demand, Huge NXTGN empowers brands to enhance their strategies while delivering greater value and a differentiated customer experience compared to existing mobile offerings. Sinch's carrier grade cloud platform delivers scalable, fast and flexible online policy and charging for voice, data, messaging, fraud and security, and digital services solutions to meet MVNOs' requirements. Sinch also provides a range of services to help operators drive customer A2P Monetization, firewalls, analytics and reporting solutions for telecom operators with full suite of professional and managed services. Nicklas Molin, EVP, Market Unit International at Sinch stated, "We are excited to partner with Huge NXTGN to deliver the value of communications and digital services to businesses, while protecting operators' networks & their subscribers. This collaboration delivers innovation and improved services to businesses via MVNO offering and we are dedicated to support our clients in delivering such advanced solutions and better experiences to consumers." Jason Harmsen Chief Executive Officer, Huge NXTGN said: "Our growth strategy leverages an innovative digital enablement ecosystem that empowers brands of all sizes to seamlessly integrate and launch connectivity services aligned with their unique strategies. By lowering barriers to entry, we redefine accessibility, helping businesses transform their propositions and deliver unmatched value to customers. This ecosystem represents a game-changing approach in the South African market, making advanced digital connectivity solutions available to brands faster and more efficiently. Our partnership with Sinch underscores our commitment to delivering advanced, best-of-breed solutions that support our partners and ensure their success through innovation and exceptional customer experiences." For more information about Sinch and its comprehensive suite of communication solutions, please visit For more information, please contact:Janet Lennon, Director of Global PR & Atherfold, Public Relations and Communications for Huge NXTGNCraig.A@ This information was brought to you by Cision View original content:
