Loan Value – Regiofora http://regiofora.com/ Wed, 20 Oct 2021 03:03:28 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://regiofora.com/wp-content/uploads/2021/07/icon-5-150x150.png Loan Value – Regiofora http://regiofora.com/ 32 32 Malaysia’s AirAsia X suggests paying 0.5% of $ 8.1 billion debt https://regiofora.com/malaysias-airasia-x-suggests-paying-0-5-of-8-1-billion-debt/ https://regiofora.com/malaysias-airasia-x-suggests-paying-0-5-of-8-1-billion-debt/#respond Tue, 19 Oct 2021 21:56:00 +0000 https://regiofora.com/malaysias-airasia-x-suggests-paying-0-5-of-8-1-billion-debt/ AirAsia X (D7, Kuala Lumpur Int’l) called on its creditors to meet on November 12 to consider a restructuring proposal in which the low-cost long-haul carrier would pay just 0.5% of the debt owed to each of them and would terminate all existing contracts before any resumption of operations. Having gained more time to organize […]]]>

AirAsia X (D7, Kuala Lumpur Int’l) called on its creditors to meet on November 12 to consider a restructuring proposal in which the low-cost long-haul carrier would pay just 0.5% of the debt owed to each of them and would terminate all existing contracts before any resumption of operations.

Having gained more time to organize the meetings, the airline revealed in a Bursa Malaysia file on October 18 that three virtual meetings would be held on November 12 for its 15 supplier and lessor creditors “for the purpose of reviewing and, if it was considered appropriate to approve, with or without modifications, the debt restructuring project according to the modalities detailed in the explanatory memorandum of the AAAX dated 18 October. These 15 creditors are:

  • BOC Aviation;
  • Airports in Malaysia;
  • Macquarie AirFinance;
  • Sky High leasing;
  • ILFC;
  • KDAC Aircraft Holding 4;
  • Jerdons Baza Leasing 1048 Designated activity;
  • Jerdons Baza Leasing 1066 Designated activity;
  • Jerdons Baza Leasing 1075 Designated activity;
  • Lavender Leasing One;
  • Lavender Leasing Two;
  • BNP Paribas Singapore;
  • AWAS 1533;
  • AWAS 1549; and
  • Airbus.

In the 127-page explanatory memorandum, the AirAsia group subsidiary proposes a restructuring of 33.65 billion ringgits ($ 8.07 billion) in liabilities. “To avoid a liquidation and allow the airline to fly again, the only option is for AAX to undertake the proposed debt restructuring,” the airline said in the document, as seen by Reuters.

Half of the total liability is the cost of terminating aircraft orders from its main creditor, Airbus, for seventy-eight A330neo widebody and thirty A321neo widebody, according to the document. According to the advanced module of ch-aviation fleets, these are seventy-eight A330-900N and thirty A321-200NX (XLR). Its current fleet of twenty-two A330-300s, of which only three are owned and the rest leased to ten lessors, remains largely on the ground.

The carrier further committed to achieve annual profit in excess of MYR 300 million (USD 71.9 million) in its fiscal years 2023-2026 (before interest, taxes, depreciation and amortization (EBITDA) and rental charges and restructuring), then all creditors – with the exception of Airbus – would be entitled to 20% of those gains.

The 0.5% of the debt owed to each of the creditors would be paid out of operating income one year after the agreement to restructure the debt, says the explanatory memorandum.

Reuters reported a month ago that sources claimed that Airbus had agreed to reschedule delivery or cut prices for hundreds of planes ordered by AirAsia group airlines, a restructuring that restores relations between the two. companies.

AirAsia X remains in talks with lessors and other creditors on the business terms of the ongoing or future business relationship, according to the explanatory memorandum. To the lessors, he offered to continue to lease planes to him on new conditions or to accept the termination of the lease. Two lessors have indicated that they want to end the leases, according to the document.

On November 12, AirAsia X will need the agreement of creditors holding at least 75% of the total debt value in each of the three categories of creditors – one category per meeting on the day – to gain blanket approval for its proposal. restructuring. The three categories relate to suppliers, lessors and, third, Airbus, the largest creditor of all in terms of value. The carrier said several creditors have indicated they are in favor of the proposal. Airbus declined to comment on the process.

Following the debt restructuring, AirAsia X – of which AirAsia Group and its founders own approximately 43% – intends to raise MYR 500 million (USD 120 million) through a rights issue and subscription to ‘actions.


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Do you really have enough money to buy your first home? https://regiofora.com/do-you-really-have-enough-money-to-buy-your-first-home/ https://regiofora.com/do-you-really-have-enough-money-to-buy-your-first-home/#respond Mon, 18 Oct 2021 20:22:05 +0000 https://regiofora.com/do-you-really-have-enough-money-to-buy-your-first-home/ Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. Subscribe to the Select newsletter! Our best picks delivered to your inbox. Buy recommendations that help you improve your life, delivered weekly. […]]]>

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Take a look at where you currently stack up against other financial goals

Know that the mortgage you qualify for is not always the one you can afford

When requesting a mortgage, an insurer will approve you for a loan amount that will be repaid in fixed monthly installments over a period of 15 or 30 years (with interest, of course). Lenders base this amount on your gross monthly income which is how much you earn each month before taxes, 401 (k) contributions, insurance premiums, etc.

“The bank may approve you for a larger loan than you can actually afford to take,” says Pant. “But what you qualify for and what you can afford are two different questions.”

Your situation may affect how much of a monthly payment you can actually afford. Take a married couple for example, says Pant. If the couple are planning to have a child and someone quits their job after buying a house, they will need to consider a house that they can maintain with just one person’s income.

These are some expenses that mortgage underwriters don’t consider when approving you for a loan, but they can affect how much you can comfortably afford to spend on housing each month. Another circumstance that can affect the amount of a mortgage you should consider is whether or not you are currently providing financial assistance to your family members.

“Maybe you have family overseas and send them remittances. It’s not the kind of thing an underwriter will be looking for, but it’s a responsibility that you have and that will strain your budget, ”Pant explained.

You can use a mortgage calculator to start getting a feel for how much of a mortgage you can afford, but don’t forget to take an honest look at your monthly expenses and other financial responsibilities that affect you. incumbent – a budgeting app like Mint or Personal Capital can help you do that. This way, you can avoid feeling too tight between paying for a house, saving for retirement, and funding other necessary monthly expenses.

Know all the costs before starting the process

One of the most important (and well-known) aspects of buying a home is the the down payment, which is part of the price of the house that you will pay up front. The amount of down payment you ultimately pay can depend on the price of the house and the type of loan you take out. With an FHA loan, which you can qualify for if you are a first-time home buyer, your down payment can be as little as 3.5% of the home’s value. With a conventional loan, you can deposit as little as 3%, but conventional loans tend to have more stringent qualifying guidelines, like higher credit scores and a lower debt-to-income ratio. However, the average down payment in the United States is around 6% of the cost of a home.

There are also USDA loans, which are low interest rate loans that do not require a down payment. They are aimed at low-income people who do not qualify for traditional loans and who want to buy a home in rural or suburban areas.

Also keep in mind that if you put less than 20%, you will have to pay monthly private mortgage insurance (PMI for short for a classic loan) or a mortgage insurance premium (MIP for short for an FHA loan). You will pay the PMI or MIP until you have made enough monthly mortgage payments to have accumulated 20% of equity in the home.

And although home insurance is not required by law, some lenders may make it mandatory to take out a mortgage. So this may be another monthly cost that you need to consider when determining how much of a monthly payment you can afford.

Then, in order to officially call this place your home, you will need to pay the closing costs. Closing costs are a collection of smaller fees and costs associated with buying a home. They may include application fees, valuation fees, credit check fees, sales charges, title insurance and title research fees. These can all be around 2% to 5% of the loan amount, however, you may be able to negotiate to have the seller cover some or all of these costs.

So keep in mind that all of these costs can influence how much you’re willing to spend on your home each month, which in turn can affect how much you save for your down payment.

Don’t forget to account for all the “little” costs of homeownership.

At the end of the line

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.



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Should You Refinance Your Mortgage Now? Consider these factors https://regiofora.com/should-you-refinance-your-mortgage-now-consider-these-factors/ https://regiofora.com/should-you-refinance-your-mortgage-now-consider-these-factors/#respond Sun, 17 Oct 2021 13:14:00 +0000 https://regiofora.com/should-you-refinance-your-mortgage-now-consider-these-factors/ The Federal Reserve recently announced that it plans to raise interest rates and ease bond buying in the coming months, measures it has put in place to support the economy during the pandemic. This could mean that the days of historically low mortgage rates – below 3% on the popular 30-year fixed loan – are […]]]>

The Federal Reserve recently announced that it plans to raise interest rates and ease bond buying in the coming months, measures it has put in place to support the economy during the pandemic. This could mean that the days of historically low mortgage rates – below 3% on the popular 30-year fixed loan – are numbered.

There are already signs of rising rates. Mortgage buyer Freddie Mac reported Thursday that the average rate on a 30-year mortgage rose to 3.05%, from 2.99% last week.

So, does that mean you should rush out and refinance your mortgage by the end of the year?

Let’s first look at why rates have fallen so much this year, fueling the refinancing craze.

Rates can go up and down for a number of reasons, including 10-year Treasury bill yields, the stock market, and the jobs report. But the main driver behind the low rates is the Federal Reserve, which has invested trillions of dollars in mortgage-backed security bonds to keep the housing market strong during the pandemic.

Over the years, the 30-year fixed rate has varied considerably. It was at its highest level in 1981 – 16.63% – when the Federal Reserve raised it to dampen hyperinflation. It was 6.97% 20 years ago and 4.45% 10 years ago.

Like other homeowners, you’ve probably been inundated with promotions from lenders offering to save you hundreds of dollars a month by refinancing your mortgage at a lower rate. You may be wondering if you are a good candidate for refinancing and if so if now is the right time to do it.

When is it beneficial to refinance?

“If you can lower your mortgage interest rate from 0.5% to 0.75% and if you plan to stay in the house for more than three years, then it makes sense to consider refinancing,” says Greg McBride, vice – senior president and chief financial analyst. for Bankrate.com.

There is a break-even period and it varies depending on the loan. Typically, after three years, you start to reap the rewards of refinancing. Ask yourself, “Are you going to stay there or own the house long enough to take advantage of the refinance?” Said Joel Kan, associate vice president, economic and industrial forecasting, at the Mortgage Bankers Association.

Another key factor is the cost of refinancing. “There are a number of entities that have their hands in your pocket,” says McBride. There may be lender fees such as set-up fees, application fees, and also third-party fees such as appraisal fees, title work fees, local and state government taxes, and registration fees. ‘registration. “See what other than rate is added to the mix,” says McBride. Most often, borrowers factor these costs into the loan amount.

Other reasons to refinance: To take money out of your home for debt consolidation or to complete home improvement projects, or to change the type of loan you have. For example, if you have an adjustable rate mortgage, you may prefer to replace it with a fixed rate loan so that you don’t face larger monthly payments if the rate increases after its initial fixed period.

When is it best to delay refinancing?

If the rate you have is close to 3%, it may not be worth refinancing, especially if you are not sure how long you plan to live in or keep your home.

“The rate may not be low enough,” says Kan. “Refinance when there are enough advantages to refinance. Are you withdrawing money? What is the lowest possible rate? If you are moving and selling your home in the near future, in a year or so, you may not want to refinance. Factor in the closing costs and term of the loan as well as the rate.

There are many calculators online that allow you to calculate your potential savings by entering the new loan amount, rate, and loan term, like the one offered by Fannie Mae. “If it’s a bigger loan amount, even if you get a rate cut,” it may not be worth it, says Kan. “Your savings depend on the amount of the loan and the drop in rates. Small loans need a larger rate cut to generate savings.

The average home loan size is $ 300,000 to $ 400,000, according to Jonathan Lee, senior manager of Zillow Home Loans.

Other reasons to delay refinancing are: If your financial situation has changed or deteriorated, says McBride. Another reason is that you aren’t saving on total interest over the life of the loan or on your monthly payment.

What are the main obstacles to refinancing?

Loss of income due to lack of work, a declining or too low credit rating, and a high debt-to-income ratio can keep you from refinancing.

The debt-to-income ratio is your total debt each month compared to your monthly income. An optimal debt-to-income ratio is less than 36%, says McBride. This means that your debts – including your monthly mortgage payment, monthly maintenance fees or common charges, taxes, home insurance, credit cards and car loans – should not exceed 36% of your salary. raw.

Some business owners may have difficulty refinancing. It may be more difficult to qualify for a mortgage if you have 1099 tax income from a sole proprietorship, for example, rather than W-2 income as an employee.

Still, “you can have good credit without traditional sources of income,” says Kan. There are credit models that reflect non-traditional income.

What else should I be aware of?

Closing costs: There are costs associated with refinancing a loan, and they are usually lower than when you buy a home. When you buy a home, closing costs can range from 2% to 6% of the loan amount, depending on the lender’s estimate.

For a refinance, the average closing costs were less than 1% (0.87%) of the loan amount, excluding tax, according to a report from ClosingCorp, a San Diego company that provides data on closing costs for the loan. residential real estate for mortgage and real estate. service industries. Including tax, the average cost of refinancing was 1.29% of the loan amount.

Estimates of closing costs vary by state and municipality of the home. Yet, since the cost of closing a loan can include state and local taxes, ask what is included in the term “closing costs”.

According to ClosingCorp, the average closing costs for a single-family home in 2020 were $ 3,398 taxes included and $ 2,287 excluding taxes. ClosingCorp’s refinance calculations include the lender’s title policy, appraisal, settlement and registration fees, as well as various state and local taxes.

Some states require an attorney to review closing documents. If necessary in your state, this would add attorney fees to your closing costs.

Lender credits: In short, credit lenders can eliminate some or all of your closing costs. Sometimes a lender will offer lender credits to cover the cost of closing your loan or you can talk to them about it. Loans from lenders can raise your mortgage rate by a fraction such as 2.875% or more from 2.75%, but they don’t always increase your rate.

One downside to getting lender credits would be if lender credits raise your mortgage interest rate and charge you more interest over the life of your loan compared to a lower mortgage interest rate and some closing costs built into the loan amount.

The ability to obtain lender credits depends on your loan-to-value ratio, which is the amount you borrow relative to the property’s value, the interest rate, and the lender’s willingness to offer these credits as incentive to do business with you.

Points: One point is 1% of the loan amount, and lenders may offer you a lower mortgage rate but with a fraction of a point or points attached. Make sure that when you compare rates, you are comparing the actual rates and any points associated with each rate offered by different lenders.


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Rocky Mountain Bank parent company announces merger https://regiofora.com/rocky-mountain-bank-parent-company-announces-merger/ https://regiofora.com/rocky-mountain-bank-parent-company-announces-merger/#respond Fri, 15 Oct 2021 22:41:15 +0000 https://regiofora.com/rocky-mountain-bank-parent-company-announces-merger/ JACKSON – First Western Financial, Inc., “First Western” (Nasdaq: MYFW), parent company of First Western Trust Bank, “the Bank”, and Teton Financial Services, parent company of Rocky Mountain Bank, today announced the signing of a definitive merger agreement under which Teton Financial Services would merge with and into First Western. Teton Financial Services has three […]]]>

JACKSON – First Western Financial, Inc., “First Western” (Nasdaq: MYFW), parent company of First Western Trust Bank, “the Bank”, and Teton Financial Services, parent company of Rocky Mountain Bank, today announced the signing of a definitive merger agreement under which Teton Financial Services would merge with and into First Western.

Teton Financial Services has three branches in the State of Wyoming, assets of $ 420.7 million, total deposits of $ 374.6 million, and total loans of $ 267.9 million as of June 30, 2021. Teton Financial Services also offers trust and wealth management services and had $ 394.1 million available. assets under management as of June 30, 2021.

Rocky Mountain Bank customers are expected to continue to operate as usual for the time being and will receive communications from First Western prior to any changes related to this transaction.

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“This transaction brings together two very complementary institutions with similar values, business models and a commitment to helping clients achieve their financial goals,” said Scott C. Wylie, Chairman, President and CEO of First Western and the Bank.

“Developing our presence in Wyoming is a key part of our long-term growth strategy given its attractive demographics and favorable environment for our unique approach to private banking. Rocky Mountain Bank’s talented team have consistently attracted new clients and increased loans and deposits at a double-digit compound annual growth rate over the past seven years, and their experience and expertise will further strengthen our commercial banking capabilities. Said Wylie. “With our combined resources, we believe we can steadily increase our market share in Wyoming going forward, providing another catalyst to improve the value of the First Western franchise. “

As of June 30, 2021, the combined institutions would have approximately $ 2.4 billion in assets and $ 7.2 billion in assets under management. The transaction is expected to close in late Q4 2021 or early Q1 2022 and will operate 18 offices in four states, including Colorado, Arizona, Wyoming and California.

The transaction is expected to be accretive 5.2% to 2022 earnings per share and 0.4% dilutive to tangible book value, with a short payback to tangible book value of 0.4 years. Pursuant to the merger agreement, shareholders of Teton Financial Services are entitled to receive 0.0466 common shares of First Western and $ 0.39 in cash for each share of Teton Financial Services, subject to certain adjustments. Based on the closing price of the First Western share on July 21, 2021, the total merger consideration is valued at $ 47.8 million. The value of the Merger Consideration will fluctuate until Closing depending on the value of the First Western Shares.

The boards of directors of First Western and Teton Financial Services have unanimously approved the merger agreement. In addition, the directors and officers of Teton Financial Services have entered into agreements by which they have committed to vote their shares in favor of the transaction.

Closing of the acquisition is subject to the satisfaction of customary closing conditions, including regulatory approvals and shareholder approval of Teton Financial Services.

About First Western Financial Inc.
First Western is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming and California. First Western and its subsidiaries provide a fully integrated suite of wealth management services on a private banking platform, which includes a comprehensive selection of deposit, loan, trust, wealth planning and asset management products and services. investments. The common shares of First Western trade on the NASDAQ Global Select Market under the symbol “MYFW”.

About Teton Financial Services
Teton Financial Services is the holding company of Rocky Mountain Bank, a Wyoming community bank serving the Wyoming market since 1983. Based in Jackson, WY, Teton Financial Services offers a wide range of products and services through three branches to businesses and individuals located in Teton, Sublette and Sweetwater counties. Teton Financial Services offers business banking services, specialized loans, deposit products as well as personal banking solutions and wealth and fiduciary solutions to individuals.


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Lissette Calderon’s Neology Life secures $ 78 million construction loan – Business Watcher https://regiofora.com/lissette-calderons-neology-life-secures-78-million-construction-loan-business-watcher/ https://regiofora.com/lissette-calderons-neology-life-secures-78-million-construction-loan-business-watcher/#respond Wed, 13 Oct 2021 22:13:25 +0000 https://regiofora.com/lissette-calderons-neology-life-secures-78-million-construction-loan-business-watcher/ Neology Life secured a $ 78.2 million construction loan from Trez Capital for a mid-rise apartment building in Miami’s Allapattah neighborhood, the lender said. The development, called the julia and located at 1625 NW 20th Street, goes up between 17th and 15th ave. The 12-story building will include 323 rental residential units, a swimming pool, […]]]>

Neology Life secured a $ 78.2 million construction loan from Trez Capital for a mid-rise apartment building in Miami’s Allapattah neighborhood, the lender said.

The development, called the julia and located at 1625 NW 20th Street, goes up between 17th and 15th ave. The 12-story building will include 323 rental residential units, a swimming pool, a rooftop garden and a fitness center. With construction already underway, the project is expected to be delivered in mid-2023.

The name of the building pays homage to Julia tuttle, a landowner who was instrumental in the city’s development in the 19th century, according to the Commission on the Status of Women. Tuttle is now commonly referred to as the “Miami Mother”.

Neology purchased the 73,442 square foot plot, on which a 1950s warehouse stood, for $ 6.4 million and secured a $ 4 million acquisition loan from Maxim Credit Group in 2019, according to property records.

The developer, led by the CEO Lissette Calderon, works primarily in Allapattah, a working-class neighborhood that is becoming bourgeois due to its location near the trendy Wynwood neighborhood and the influx of affluent residents. Earlier this year, Neology finished his first project, rental property N ° 17 Residences, which is 99 percent leased a month ago.

Trez hopes to achieve similar success. “We believe Allapattah is uniquely positioned to attract professionals and families working nearby who want a certain standard of luxury living but are overpriced at places like Brickell, Downtown and Wynwood,” said Ben jacobson, the general manager of Trez at the origin of the loan.

Morley GreeneTrez Capital provides short-term debt and equity financing, typically between six months and 36 months and up to $ 100 million in loan value. It manages assets worth more than $ 3.1 billion, according to the company, and plans to generate about $ 2 billion in loans by the end of the year.

Julia Echikson can be reached at jechikson@commercialobserver.com.


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Arrested this week, the wife of Unitech promoter got offshore trust, Dominica passport https://regiofora.com/arrested-this-week-the-wife-of-unitech-promoter-got-offshore-trust-dominica-passport/ https://regiofora.com/arrested-this-week-the-wife-of-unitech-promoter-got-offshore-trust-dominica-passport/#respond Sun, 10 Oct 2021 01:30:42 +0000 https://regiofora.com/arrested-this-week-the-wife-of-unitech-promoter-got-offshore-trust-dominica-passport/ Six years ago, around the time when desperate buyers took the courts against Unitech group developer Sanjay Chandra, his wife Preeti Chandra set up an offshore family trust structure and changed her nationality, records in the Pandora papers studied by The Indian Express spectacle. Records from business service provider Trident Trust show that Unitech Group […]]]>

Six years ago, around the time when desperate buyers took the courts against Unitech group developer Sanjay Chandra, his wife Preeti Chandra set up an offshore family trust structure and changed her nationality, records in the Pandora papers studied by The Indian Express spectacle.

Records from business service provider Trident Trust show that Unitech Group defaulted as early as 2009 on servicing a $ 210 million loan from Credit Suisse for investing in real estate projects in India.

Last Monday, Ramesh Chandra, father of Preeti Chandra and Sanjay Chandra, were arrested by the Enforcement Department investigating the Unitech money laundering case. In March, the emergency prevented her from boarding a flight to Delhi. The agency claimed it was “involved in the laundering and layering of funds deposited by home buyers.”

Earlier this week, the Supreme Court authorized a “full-fledged criminal investigation” into allegations of collusion by some Tihar prison officials with Sanjay Chandra and his brother Ajay Chandra while they were incarcerated. In August, the two were ordered to be separated and transferred to prisons in Mumbai.

Between her husband’s arrests in 2011 in the 2G spectrum scam and in 2017 for allegedly cheating on homebuyers, fashion designer Preeti Chandra, still an Indian citizen, formed two companies and a family trust in the Virgin Islands. British.

Formed in March 2015, Trikar International Inc (BVI), was to hold the assets of the family trust, which was being set up with Preeti as protector. Bellmora Ltd (BVI) was incorporated as a “designated beneficiary of the Chandra Family Trust” in May 2015 to hold investments in the United Arab Emirates and India, as well as a bank account at Emirates NBD, Dubai.

The Chandra Family Trust held the 50,000 shares of Trikar International, which was funded by Trikar Advisors DMCC (Dubai); Trikar General Trading FZE (Sharjah); and “fashion design companies”.

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In September 2015, Preeti signed a solvency statement promising that “no event has occurred which I have reason to believe will result in a claim against me by a third party” and that none of his assets “do not come from” money laundering.

In April 2016, Preeti obtained his passport from the Commonwealth of Dominica, which does not have an extradition treaty with India.

And a month later, she transferred all the shares of Trikar General Trading FZE (Sharjah) from Trikar International for 150,000 dirhams.

At the end of 2016, she decided to dissolve the family trust and Trikar International. In a self-certification in April 2017, Preeti declared herself a tax resident of the United Arab Emirates and Dominica.

Preeti Chandra and a Dubai-based Indian accountant, who served as director of Trikar International (BVI), did not respond to questions from The Indian Express.

The records of the Pandora Papers also show how Credit Suisse sounded the alarm about two “entities linked to the Unitech group” in Cyprus even as the Unitech group suffered market turmoil.

Between January and July 2008, Credit Suisse (Singapore) lent 210 million dollars (then approximately Rs 850 crore) to the two Cypriot companies to invest in land and real estate projects such as hotels and SEZs in India.

The loans were guaranteed by Unitech group shares at 325% of the value. In addition, shares of Cypriot entities – Dareno Holdings Ltd and Rockslide Investments Ltd – have been pledged, along with shares in underlying Indian companies.

In June 2008, Dareno Holdings, which had borrowed $ 165 million from Credit Suisse, had made investments worth $ 116 million in 49% joint ventures with Vectex Holdings Ltd (Cyprus, $ 25 million ) and Crowbel Holdings Ltd (Cyprus, $ 40 million); and in 100% of the subsidiaries Ranchero Services Ltd (Cyprus, $ 12 million), Hedisa Holdings Ltd (Cyprus, $ 18 million), Albium Holdings Ltd (Cyprus, $ 15 million) and Legal Value Technology Services Pvt Ltd (India , $ 6 million).

That same year, in the midst of a severe credit crunch in the market, Unitech stock collapsed from Rs 500 to less than Rs 80. And the company looked for time and restructuring, promising more shares. and promising to “slowly pay back” the outstanding amount.

During this period, a UK executive from Trident Trust Company, which managed several offshore entities for the Chandras, suggested in an internal email that Cypriot company finances worried Credit Suisse, with auditors noting their inability to pronounce on the value of the underlying projects beyond Cost “.

The loan was anyway “based on expected long-term value when the hotel was developed and sold, not today’s value” and “as far as the ‘crisis’ is concerned, Credit Suisse does not think today at CYA (cover your a **), “the Trident executive wrote.

In May 2009, Dareno Holdings and Rockslide Investments defaulted on their debt and Credit Suisse retained their shares until October 2009.

Records also show that in October 2007, Credit Suisse offered a $ 40 million facility to Sanjay Chandra for the purchase of a used Bombardier Global Express aircraft. But they don’t show whether the loan has materialized.

In an email, a spokesperson for Credit Suisse said: “Credit Suisse does not comment on potential or existing customer relationships. Credit Suisse conducts its banking activities in accordance with all laws, rules and regulations applicable in the markets in which it operates.


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Report says Trump received help from Deutsche Bank for hotel loan https://regiofora.com/report-says-trump-received-help-from-deutsche-bank-for-hotel-loan/ https://regiofora.com/report-says-trump-received-help-from-deutsche-bank-for-hotel-loan/#respond Fri, 08 Oct 2021 21:02:33 +0000 https://regiofora.com/report-says-trump-received-help-from-deutsche-bank-for-hotel-loan/ Donald Trump received preferential treatment from Deutsche Bank to ease a loan for his Trump International Hotel during his tenure, and also failed to disclose the source of the $ 3.7 million property billing generated by foreign governments, according to a report released by a congressional committee on Friday. In a letter to the administrator […]]]>

Donald Trump received preferential treatment from Deutsche Bank to ease a loan for his Trump International Hotel during his tenure, and also failed to disclose the source of the $ 3.7 million property billing generated by foreign governments, according to a report released by a congressional committee on Friday.

In a letter to the administrator of the General Services Administration on Friday, two senior Democrats on the House Monitoring and Reform Committee, Carolyn Maloney and Gerald Connolly, accused the former president of providing “information deceptive “about the hotel losing money in Washington DC finances, while hiding hundreds of millions of dollars in its own debts.

The five-star hotel, which opened in September 2016 – weeks after Trump accepted the Republican nomination for president – has faced persistent accusations of conflict of interest during his tenure. Critics say the large-scale bookings on behalf of Saudi Arabia and other foreign governments were meant to curry favor with the president – which the Trumps have denied.

Maloney, chairman of the oversight committee, and Connolly, who heads the government operations subcommittee, said they had obtained documents that shed new light on the former chairman’s relationship with Deutsche Bank, which has become the one of its biggest lenders after other banks avoided it following a number of bankruptcies.

The Trump Organization called the report “intentionally misleading, irresponsible and unequivocally false.”

Regarding the Deutsche loan, in particular, he added: “At no time has the company received preferential treatment from a lender.”

The German lender also challenged the committee’s findings and said “the letter makes several inaccurate statements regarding Deutsche Bank and its loan agreement.”

According to the committee’s findings, in 2018 the bank allowed Trump to delay the principal payment of a $ 170 million loan for the property he personally guaranteed by six years. Deutsche appeared to allow those payments to be postponed until 2024, when the full loan was due to fall due, according to accounts filed by Trump and cited by the committee.

“Without this postponement, the hotel may have had to pay tens of millions of additional dollars to Deutsche Bank at a time when it was already facing heavy losses,” the report said, adding: “Mr. Trump did did not publicly disclose this important advantage of a foreign bank while he was president.

A person familiar with the loan, who objected to the committee’s description, said it was still an interest-only facility until maturity. Principal repayments were only required if the value of the building fell below a certain percentage of the debt, known as a “loan-to-value” clause, the person said.

Trump never violated that pact, the person added, accusing Trump Organization accountants of misrepresenting the terms of the deal.

A spokesperson for the House committee said its findings were drawn from audited financial statements of the Trump Organization and Allen Weisselberg, its chief financial officer, provided to the federal government and certified to be accurate.

The 2016 and 2017 statements described the loan in consistent language as not requiring principal repayment “until August 12, 2018”. The 2018 release goes on to note that principal payments were not due “until maturity”, or 2024, the spokesperson said.

“If former President Trump now believes these financial statements are inaccurate, the Trump Organization has a duty to correct the certified statements it previously submitted to the General Services Administration,” the spokesperson said.

The committee has been investigating the hotel for five years. His report was based on documents submitted by the GSA, which granted a 60-year lease to the Trump Organization to develop the historic Pennsylvania Avenue property in 2012.

While Trump touted the success of the 263-room hotel, the committee found that he suffered more than $ 70 million in losses during his tenure, forcing the Trump Organization to inject an additional $ 24 million into ownership to consolidate it.

The Trumps have tried to sell the hotel, although their high asking price and the Covid-19 pandemic appear to be hampering that effort.


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CIM Group Provides $ 43.2 Million Bridge Loan Guaranteed by REVERB by Hard Rock Hotel in Downtown Atlanta https://regiofora.com/cim-group-provides-43-2-million-bridge-loan-guaranteed-by-reverb-by-hard-rock-hotel-in-downtown-atlanta/ https://regiofora.com/cim-group-provides-43-2-million-bridge-loan-guaranteed-by-reverb-by-hard-rock-hotel-in-downtown-atlanta/#respond Thu, 07 Oct 2021 13:00:00 +0000 https://regiofora.com/cim-group-provides-43-2-million-bridge-loan-guaranteed-by-reverb-by-hard-rock-hotel-in-downtown-atlanta/ ATLANTA, October 07, 2021– (BUSINESS WIRE) – CIM Group, a community-driven owner, operator, lender and developer of infrastructure and real estate, today announced that a fund managed by a subsidiary of CIM Group has entered into a $ 43.2 million bridging loan given to Bolton Atlanta, LP to refinance the 195-room Hard Rock REVERB hotel, […]]]>

ATLANTA, October 07, 2021– (BUSINESS WIRE) – CIM Group, a community-driven owner, operator, lender and developer of infrastructure and real estate, today announced that a fund managed by a subsidiary of CIM Group has entered into a $ 43.2 million bridging loan given to Bolton Atlanta, LP to refinance the 195-room Hard Rock REVERB hotel, 245 parking spaces in the adjacent parking lot and a 12-story LED billboard in the downtown city ​​of Atlanta.

The REVERB Hotel opened in December 2020 and marked the introduction of this new hotel concept by Hard Rock International. Located at 89 Centennial Olympic Park Dr. NW in the Castleberry Hill submarket of downtown Atlanta, the property is directly adjacent to Mercedes-Benz Stadium, State Farm Arena, Georgia World Congress Center, and CNN Center.

The 12-story REVERB hotel offers rooms with advanced technology, coworking spaces, soundproof rooms for personal music sessions or podcast recording, and a designated performance area for live music, all designed in a modern and urban style. The hotel also offers specialties and beverages, including a cafe, restaurant and rooftop bar with stunning views of the Atlanta skyline.

Will James of Colliers arranged the financing for the borrower.

CIM Group is an active lender that, through its CIM Real Estate Debt Solutions business, recently closed a $ 67.5 million loan for an 189-room boutique hotel in San Francisco. The CIM Group continues to seek opportunities to provide senior and subordinate bridging loans for commercial real estate projects with strong sponsors.

CIM Group applies its extensive experience as owner, operator and developer of all types of commercial real estate to its lending strategy, and believes this helps differentiate the company from many other debt providers. Through mortgages and mezzanine loans, CIM provides bridge and construction finance to owners and developers of commercial real estate in major US markets and works with borrowers to offer a range of lending solutions.

To learn more about CIM Group’s credit strategies, visit www.cimgroup.com/crecs.

About the CIM Group
CIM is a community-driven owner, operator, lender and developer of infrastructure and real estate. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by completing more than $ 60 billion in critical real estate and infrastructure projects. CIM’s diverse team of experts apply their vast knowledge and disciplined approach to the hands-on management of real assets, from due diligence to transactions to divestiture. CIM strives to make a meaningful difference in the world by implementing key environmental, social and governance (ESG) initiatives and improving every community in which it invests. For more information, visit www.cimgroup.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211007005314/en/

Contacts

Media contact
Karen diehl
Diehl Communications
310-741-9097
karen@diehlcommunications.com


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Where CRE debt fits into a defensive income-driven portfolio https://regiofora.com/where-cre-debt-fits-into-a-defensive-income-driven-portfolio/ https://regiofora.com/where-cre-debt-fits-into-a-defensive-income-driven-portfolio/#respond Wed, 06 Oct 2021 21:53:14 +0000 https://regiofora.com/where-cre-debt-fits-into-a-defensive-income-driven-portfolio/ Sponsored content The problem of obligations Times are tough for investors looking to add value through a defensive portfolio. For most investors, defensive investing is synonymous with bonds. But the problem with investing in bonds isn’t just the lack of income from the historically low (or even negative) yields on offer. This is because bonds […]]]>

Sponsored content

The problem of obligations

Times are tough for investors looking to add value through a defensive portfolio. For most investors, defensive investing is synonymous with bonds.

But the problem with investing in bonds isn’t just the lack of income from the historically low (or even negative) yields on offer. This is because bonds no longer react positively to falling stock markets – traditionally a major asset class advantage.

Take the wind up from last year’s pandemic. Bond values ​​have not risen, they have fallen. They just don’t play the defensive role they’ve played so well in the past.

Investors have little choice but to take more risk. But if you’re feeling disheartened, Commercial Real Estate Debt (CRE) is an asset class that offers compelling benefits for those seeking income.

An alternative source of income

A CRE debt investment seeks to generate monthly income by providing loans to commercial borrowers who require financing for real estate purposes. Its income stream is predictable because the interest and fees for the loan are agreed in advance, so this “fixed income” is known for the life of the loan.

The investment also helps to preserve capital and diversify the portfolio; its loan value does not fluctuate – unlike stocks – and it ranks ahead of equity in the capital structure.

A growing opportunity

Within Australia’s commercial real estate industry, bank loans account for 93% ($ 355 billion) of the debt currently issued to borrowers. The rest is provided by alternative lenders, a sector which, although small, is well established and has grown steadily, becoming increasingly sophisticated in financing solutions for borrowers.

As alternative lenders gain market share, so do the opportunities for investors. Why? because borrowers will pay a premium for the flexibility offered by alternative lenders. Flexibility on loan terms, availability of loan options and speed of financing.

Include CRE debt in your defensive portfolio

Commercial real estate debt is an attractive, income-oriented defensive asset to hold alongside other income-generating asset classes. Some of the benefits of investing in CRE debt are:

  • A reliable income stream. The premium paid by commercial borrowers for alternative financing – in the form of fees and interest on loans – translates directly into premium returns for investors. In addition, these returns are agreed in advance and are locked and charged for the life of the loan.
  • Diversification of the portfolio. CRE debt is unique in that it can fall into three asset classes: fixed income, real estate or alternative. Debt allocation can also diversify your portfolio across the capital structure, thereby reducing risk. It may be suitable for investors seeking less capital volatility than stocks.
  • Preservation of capital. This is where the defensive nature of CRE Debt shines through. CRE loans are generally secured by first mortgages on physical property. If the mortgage guarantee has to be fulfilled, investors are paid off before anyone else. Additionally, the lender only lends a certain percentage of the property’s value, so there is a “capital cushion” to further protect investors against capital losses.
  • While offering real estate exposure, the indebted nature of CRE’s debt makes it less affected by fluctuations in real estate prices. Regular interest payments from the underlying loans also mean that returns are more predictable than those from equity-based real estate investments.

Choose a manager with the right expertise

Qualitas is an Australian real estate investment specialist, managing $ 3.7 billion in debt and equity investments. We are well positioned in the Australian market due to our long-standing local presence and our close relationship with borrowers, built on trust and repeatable lending over many years.

In our 13 years of activity, we have completed over 169 debt transactions and have not suffered any loss of capital, which is a testament to our disciplined investment.

We launched Qualitas Real Estate Income Fund (ASX: QRI) in 2018, which is listed on ASX. It aims to provide regular income and portfolio diversification by investing in the opportunities of the CRE debt market.

QRI’s model is simple: we actively manage a portfolio of around 30 loans to established Australian commercial real estate investors and developers. We all know our borrowers individually and the loans are of high quality. 97% of the loans are first mortgage loans and 98% have a personal guarantee.

Access the opportunity

We are reopening the QRI fund to new investors in October 2021. [What other info is important to communicate here?]

Visit the fund’s website to find out how to access the CRE debt opportunity.

This article is sponsored content. The provider of this content has a commercial agreement with Switzer Financial Group.

This has been prepared by QRI Manager Pty Ltd (ACN 625 857 070) (Representative AFS 1266996 as an authorized representative of Qualitas Securities Pty Ltd (ACN 136 451 128) (AFSL 34224) and the communication has been issued by The Trust Company ( RE Services) Limited (ACN 003 278 831) (AFSL 235150) as the entity responsible for Qualitas Real Estate Income Fund (ARSN 627 917 971) (“Fund”).

This communication contains only general information and does not take into account your investment objectives, your financial situation or your needs. It does not constitute financial, tax or legal advice, nor an offer, invitation or recommendation to subscribe or buy a unit of the Fund or any other financial product. Before making an investment decision, you should determine whether the Fund is suitable for your goals, your financial situation or your needs. If you need advice that takes your personal circumstances into account, you should consult a licensed or licensed financial advisor.

While every effort has been made to ensure the accuracy of the information contained in this communication; its accuracy, reliability or completeness is not guaranteed and none by The Trust Company (RE Services) Limited (ACN 003 278 831), QRI Manager Pty Ltd (ACN 625 857 070), Qualitas Securities Pty Ltd (ACN 136 451 128 ) or any of their related entities or their respective directors or officers are responsible to you with respect to this communication. Past performance is not a reliable indicator of future performance.


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3 big things today, October 6, 2021 https://regiofora.com/3-big-things-today-october-6-2021/ https://regiofora.com/3-big-things-today-october-6-2021/#respond Wed, 06 Oct 2021 11:30:17 +0000 https://regiofora.com/3-big-things-today-october-6-2021/ 1. Soybeans, cereals slightly higher in the day-to-day trade Soybean and grain futures were slightly higher overnight as investors weighed in for signs of demand against crop pressure. Global demand for agricultural products supports prices. Exporters on Monday reported sales of 426,800 metric tonnes of corn to Mexico for delivery in MY 2021-2022, which began […]]]>

1. Soybeans, cereals slightly higher in the day-to-day trade

Soybean and grain futures were slightly higher overnight as investors weighed in for signs of demand against crop pressure.

Global demand for agricultural products supports prices.

Exporters on Monday reported sales of 426,800 metric tonnes of corn to Mexico for delivery in MY 2021-2022, which began Sept. 1, the USDA said.

Egypt purchased 36,000 metric tonnes of soybean oil from global stocks, indicating new global demand for agricultural products.

Yet the US harvest continues, limiting price gains.

About 34 percent of the U.S. soybean crop was harvested earlier this week, down from 16 percent a week earlier and ahead of the previous five-year average of 26 percent, the Department of Agriculture said in a report.

On Sunday, 58% of the crop was in good or excellent condition, unchanged from the previous week.

Some 29% of U.S. corn was in the bin, up from 18% a week earlier and ahead of the 22% average for this time of year, the agency said. About 59% of the crop was in good or excellent condition, on par with the previous week.

Soybean futures for November delivery rose 2½ ¢ to $ 12.53 a bushel overnight on the Chicago Board of Trade. Soybean meal rose $ 1.20 to $ 322.40 per short ton, while soybean oil rose 0.46 to 61.62 per pound.

Corn futures for December delivery gained 2¼ ¢ to $ 5.39 ¾ a bushel.

Wheat futures for December delivery rose $ 3 to $ 7.48 a bushel, while Kansas City futures rose $ 4 to $ 7.45 a bushel.

** **

2. Demand for agricultural loans continues to decline in the Eleventh District

Demand for agricultural loans in the Eleventh District of the United States, which includes all of Texas and parts of New Mexico and Arkansas, continues to decline in the third quarter of the year amid favorable backdrop for livestock producers and crops, according to a Federal Reserve Bank of Dallas Survey of area bankers.

About 23.5% of survey respondents said they saw less demand for loans, while 22.5% said they saw more demand, the Fed branch said.

“Demand for agricultural loans continued to decline, with the loan demand index registering its 24th quarter in negative territory,” the Dallas Fed said. “Loan renewals or extensions fell for the third consecutive quarter, while the loan repayment rate continued to rise. Loan volume decreased in most major categories compared to a year ago, with the exception of operating loans, farm real estate and machinery loans. ”

The Fed branch surveys bankers quarterly. Data for the most recent report was collected during the week through September 15 with 94 bankers responding.

About 31% of bankers said the amount of funds available for agricultural loans had increased and the rest said the availability of funds was unchanged.

No respondent indicated that the amount of funds available for loans had declined, the Fed said. This is the first time since record keeping began in 1990 that no investigator has indicated that available funds are less, according to government data.

The values ​​of ranches, irrigated land and drylands all increased in the third quarter, the Fed said.

“The expected trend in the index of farmland values ​​rose in the third quarter to reach a new all-time high, suggesting that respondents expect farmland values ​​to continue rising,” the Fed said of Dallas in his report. “The Credit Standards Index fell for the fourth consecutive quarter but remained in positive territory. The still positive value of the index indicates a further tightening of standards on the net.

**

3. Red Flag Warnings Issued for West Dakotas

Red flag warnings have been issued for the western halves of North Dakota and South Dakota and for several counties in eastern Montana, according to the National Weather Service.

Winds in North Dakota are forecast at around 25 mph sustained with gusts of up to 40 mph, the NWS said in a report early this morning.

Relative humidity should drop to 15%.

In southwest South Dakota, meanwhile, winds will blow up to 35 mph as relative humidity drops to 17%, creating powder keg-like conditions, the agency said.

“Gusty southerly winds will develop this morning and continue throughout the afternoon, particularly over the western and central plains of South Dakota,” the NWS said. “The minimum values ​​of relative humidity will be slightly higher than those of the last afternoons; However, strong and sustained winds with gusts to around 40 mph can result in extreme fire behavior. ”

Further south, in Missouri, the rain could fall until Thursday morning before drying up.

Isolated showers are expected in parts of central and northern Missouri, although most of the state’s western counties are likely to remain dry, the agency said.

Temperatures will rise on Friday and Saturday with temperatures reaching the lower 90 degrees (° F) before the rain returns on Sunday, the NWS said.


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