Latest news with #refinancing
Yahoo
a day ago
- Business
- Yahoo
Wall Street Piles Into London Mega Deal: Deutsche Bank Bets $1.7B on Olympia Revival
In a rare moment of optimism for UK commercial property, Deutsche Bank (NYSE:DB) is moving ahead with a 1.25 billion ($1.7 billion) refinancing of London's Olympia redevelopmenta deal that could end up being one of the largest real estate loans ever seen in Britain. The five-year loan, arranged by JPMorgan and Evercore, will replace the 875 million facility issued by a Goldman Sachs fund back in 2020. The project, steered by Deutsche Finance International and Yoo Capital, is approaching the final stretch of a 2.1 billion transformation, bringing 1.5 million square feet of hotels, exhibition space, and restaurants to West London. Warning! GuruFocus has detected 4 Warning Sign with DB. According to people familiar with the deal, more than 15 lenders competed to provide financingranging from investment banks to debt fundssuggesting a shift in sentiment that's worth paying attention to. While the loan hasn't officially closed, sources say it's priced above 500 basis points and expected to be finalized before the project's completion this fall. That level of demand for a single asset deal may hint at early signs of recovery in London's bruised commercial property sector, even as caution still dominates broader capital markets. The Olympia site was originally acquired in 2017 for 296 million. Seven years and billions of pounds later, it's being recast as a cultural anchor for West London. For Deutsche Bank, this could be a well-timed betbacking the asset through to stabilization and possibly unlocking new long-term upside. The market may still be jittery, but this deal shows that, in the right pockets, capital is not just returningit's getting competitive. This article first appeared on GuruFocus. 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
4 days ago
- Business
- Yahoo
Sprouts Farmers Market, Inc. Revises Credit Facility
PHOENIX, July 25, 2025--(BUSINESS WIRE)--Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced the closing of a $600 million revolving credit facility (the "Revolving Credit Facility") under a credit agreement dated as of July 25, 2025. The Revolving Credit Facility refinances the company's previous $700 million revolving credit facility, which was replaced in connection with Sprouts' entry into the Revolving Credit Facility. The Revolving Credit Facility contains terms and conditions substantially similar to the company's previous facility, with a commitment expiration date of July 2030, revised pricing terms for loans and commitments thereunder, and additional covenant flexibility. At closing, Sprouts had no outstanding borrowings and letters of credit of $23 million outstanding under the Revolving Credit Facility, with a remaining availability of $577 million. "While we plan to continue to fund operations and unit growth through our robust cash flow generation, this facility provides Sprouts with financial flexibility as we grow," said Curtis Valentine, chief financial officer of Sprouts. JPMorgan Chase Bank, N.A., acted as administrative agent, issuing bank, and swingline lender. JPMorgan Chase Bank, N.A., Truist Securities, Inc. and PNC Capital Markets LLC acted as joint lead arrangers and joint bookrunners, Truist Bank and PNC Bank, National Association, acted as co-syndication agents, and Bank of America, N.A., BMO Bank, N.A., and U.S. Bank, National Association acted as co-documentation agents. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our plans regarding unit growth and cash flow generation as well as our company growth. Forward-looking statements are based on our beliefs as well as assumptions made by, and information currently available to, us. The risks and uncertainties to which the forward-looking statements are subject include, without limitation, adverse impacts due to general economic conditions that impact consumer spending or result in competitive responses, our ability to maintain or improve our operating margins, and other risks detailed in the "Special Note Regarding Forward-Looking Statements," "Risk Factors," and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Except as required by applicable law or regulation, we disclaim any obligation, and do not intend, to publicly update or review any of our forward-looking statements, whether as a result of new information, future events, or otherwise. Corporate Profile True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide. To learn more about Sprouts, and the good it brings communities, visit View source version on Contacts Investor Contact: Susannah Livingston(602) 682-1584susannahlivingston@ Media Contact: media@ 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
Reuters
4 days ago
- Business
- Reuters
Croatia's Fortenova seals a 550 mln euro refinancing deal with Unicredit, Zagrebacka bank
July 25 (Reuters) - Croatia's largest food producer and retailer, Fortenova Grupa, has agreed a 550 million euro ($645 million) refinancing deal with Unicredit and Zagrebacka Bank ( opens new tab, the company said on Friday. "With this arrangement, which represents the largest private corporate financing in Republic of Croatia arranged by one banking group, Fortenova Group makes an important step in further stabilisation and strengthening of its financial position," the company said. Formerly known as Agrokor, Fortenova is one of the biggest companies in southeastern Europe. It was saved from bankruptcy in a restructuring deal with local and foreign creditors in mid-2018. The company said this was its first banking financing since it was founded in 2019. "Since ... 2019 we have cut gross debt from 2 billion euros to 650 million euros and at the same time more than doubled the Group's EBIDTA," said CEO Fabris Perusko. The effective date for the debt refinancing is October 1. ($1 = 0.8526 euros)
Associated Press
5 days ago
- Business
- Associated Press
Average long-term US mortgage rate eases to 6.74%, keeping home loan borrowing costs elevated
The average rate on a 30-year U.S. mortgage eased this week, offering little relief for prospective homebuyers facing record-high home prices. The long-term rate slipped to 6.74% from 6.75% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.78%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased. The average rate dropped to 5.87% from 5.92% last week. A year ago, it was 6.07%, Freddie Mac said. Elevated mortgage rates have been weighing on the U.S. housing market, which has been in a sales slump going back to 2022, when rates started to climb from the rock-bottom lows they reached during the pandemic. Sales of previously occupied U.S. homes, which sank to their lowest level in nearly 30 years in 2024, have remained sluggish this year as rising home prices and stubbornly high mortgage rates have made homeownership financially untenable for many Americans.
South China Morning Post
6 days ago
- Business
- South China Morning Post
SenseTime, Mengniu join UBTech in wave of Chinese firms tapping capital markets
Chinese companies are stepping up their fundraising activities to shore up liquidity and manage refinancing needs as market sentiment shows signs of recovery in the second half of the year. Advertisement On Thursday, artificial intelligence firm SenseTime unveiled an agreement to raise HK$2.5 billion (US$318 million) through a share subscription, and dairy giant Mengniu Dairy said it would generate 3.5 billion yuan (US$489 million) through a bond issuance. Those plans came to light a day after UBTech Robotics divulged a HK$2.4 billion share placement plan. The financing moves come amid strong momentum in Hong Kong's equity market . Initial public offerings in the city surged 695 per cent year on year in the first half to US$14.1 billion, making it the world's largest IPO market during the period, according to a report released by bourse operator Hong Kong Exchanges and Clearing (HKEX) on Wednesday. 'Investor sentiment has improved markedly,' despite complicated geopolitical tensions, HKEX said, noting that both international institutions and retail investors had shown strong demand for new offerings. Equity fundraising was particularly active in the consumer sector and the technology, media and telecommunications sector, with firms in AI, healthcare and fast-moving consumer goods raising substantial capital to fuel expansion, it said. SenseTime said its conditional subscription agreement with unnamed investors would involve 1.67 billion new shares priced at HK$1.50 apiece, representing a 6.25 per cent discount to its last closing price. The proceeds were expected to support the firm's business development and general corporate use, including ongoing investment in AI infrastructure and research into generative models, as well as new areas such as robotics and digital finance, it said. Advertisement Mengniu, one of China's largest dairy producers, said it would issue two tranches of yuan-denominated bonds: a 2 billion yuan bond maturing in 2030 with a 2 per cent coupon, and a 1.5 billion yuan bond maturing in 2035 with a 2.3 per cent coupon. The company said the proceeds would be used for refinancing existing debt, with an equivalent amount to be allocated to eligible green and social-responsibility projects under its sustainable-financing framework.
