This was due to the highest five-year MA prepayment rate observed being marginally lower than the highest two-year MA prepayment rate since closing.
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Look out for prepayment penaltiesA prepayment penalty is a fee that some lenders charge if you pay off your loan earlier than the agreed payment schedule.
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For Illawarra 337109-33710003 CMBS, Fitch applied the highest observed two-year moving average (MA) prepayment rate of 337103% to our high prepayment assumptions across all rating stress scenarios.
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ANNOUNCES $100 MILLION PREPAYMENT OF $450 MILLION SENIOR SECURED CREDIT FACILITY * OCEAN RIG UDW - FOLLOWING PREPAYMENT, TOTAL OUTSTANDING BORROWINGS UNDER TERM LOAN REDUCED TO $350 MILLION Source text for Eikon: Further company coverage:
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The low prepayment scenario of 33710003% per year was tested as the observed data did not support a low prepayment assumption of 33712016% for residential mortgage programmes with a seasoning of five years.
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"So, it doesn't adjust and there's no prepayment penalty," explained Madiedo.
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There are no prepayment fees, and the minimum loan is $300.
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Tally charges no origination, annual, prepayment, late or over-the-limit fees.
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KMGK didn't disclose how much oil Vitol will receive for the prepayment.
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The additional funds will bring Vitol's prepayment for Kashagan to about $2.25 billion.
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Dental policies are more like prepayment plans for a basic level of care.
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It charges no application or origination fee, and has no prepayment penalties either.
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The company doesn't charge any origination, prepayment, early payment, or extra payment fees.
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The legislation also disallows a deduction in 2017 for any prepayment of SALT.
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The product would be less appealing to house flippers, as there are prepayment penalties.
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SSE said its prepayment gas customers are in store for a 13 percent reduction.
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Such moves usually affect receivable prepayment income, which is pegged to market interest rates.
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You won't be charged an origination fee and there are no prepayment penalties either.
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There is no prepayment penalty and the card replenishes as it is paid off.
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Like Christie, Cuomo on Friday signed an executive order removing legal barriers for prepayment.
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A prepayment penalty might apply, for example, if you pay off your loan early.
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The best airfare and hotel deals usually require prepayment, which is often non-refundable.
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In fact, the Government Accountability Office (GAO) reviewed the results of the Medicare RAC Prepayment Review Demonstration and over the past three years has consistently recommended, both in reports and before Congress that CMS add a permanent RAC prepayment review program within Medicare.
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Important Reduction in Debt ODM's leverage ratios should improve after the USD350 million notes prepayment.
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The loan has no prepayment penalty if the property is sold, according to the statement.
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Fitch expects the company to monitor opportunities to accelerate these financings, despite associated prepayment penalties.
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In the 1930s, insurance companies began to offer policies that were prepayment plans for care.
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Gross income from the prepayment of receivables fell for the second time in three quarters.
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At the beginning of this year Trafigura also secured a prepayment zinc supply deal with Nyrstar.
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Fitch modelled various loss distributions and recovery profiles, as well as prepayment speeds, in its analysis.
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In addition to origination fees, some lenders may charge prepayment penalties and/or late payment fees.
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The transitional price cap for particularly disadvantaged customers on prepayment meters came into force in April.
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Dwindling resources have led to requests from suppliers for prepayment before cargoes are delivered to Venezuela.
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In fact, RAC prepayment claim reviews have already been tested and found to be very successful.
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Forbidding prepayment means taxpayers cannot take advantage of the current tax law, which is more generous.
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Be sure to keep an eye out for surprise expenses, including origination fees and prepayment costs.
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But the low interest rate environment has constrained investor demand by reducing yields and increasing prepayment risk.
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Ofgem has introduced a temporary price cap on prepayment meters, which are mostly used by poorer households.
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Cash flows were modelled on an assumed annual prepayment rate of 223% in the worst case scenario.
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Cash flows were modelled with an assumed annual prepayment rate of 223% in the worst case scenario.
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All that is needed is for Congress to give CMS the authority to implement RAC prepayment reviews.
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Elected officials in places such as New York and Washington, D.C., have been highlighting the prepayment option.
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Prepayment is required, and this is the only instance in which Mr. Leff recommends a prepaid rental.
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Glencore has a $200 million prepayment deal with Samir funded by loans from banks Natixis and APICORP.
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In the case of a mandatory prepayment event the banks would be allowed to conduct a managed sale.
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More than 6 million barrels of oil were stranded on tankers after PDVSA demanded prepayment for the cargoes.
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That gives the European pair a greater chance of fulfilling their growth expectations – and rewarding giddy investors' prepayment.
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Smart meters, which provide more accurate and timely data on energy usage, are intended to replace prepayment meters.
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"The prepayment will alleviate near term balance sheet concerns (for the miner)," broker Canaccord said in a note.
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The cap was intended to cut prepayment customers' bills by around 300 million pounds ($365 million) a year.
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The Swiss trader is also a copper cathode purchaser through a prepayment deal with Fangyuan backed by banks.
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Gross income from prepayment of receivables came in 18 percent above estimates, totaling 653.8 million reais last quarter.
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However, LendingClub does not charge any prepayment penalties, so you can pay off your loan sooner without worry.
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If you start the payments before the grace period, there is no minimum payment and no penalty for prepayment.
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The trader first signed a prepayment deal with KMG in 2015 for oil from Tengiz, Kazakhstan's largest producing field.
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Receivable prepayment income, which fueled record profit last year, also began to feel the pinch of declining borrowing costs.
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"In the beginning I wanted to buy flour from someone and make a small amount of prepayment," he continued.
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Pemex said it plans to use the capital for the prepayment of bonds that mature in 2020 and 2023.
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Often these rates require prepayment and are nonrefundable, which risks the entire amount if you don't take the trip.
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A more precise figure cannot be given because the amount of mortgages that are maturing due to prepayment speeds.
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Loan prepayment is often looked down upon by lending platforms because they eat away at revenue by truncating interest payments.
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Mawson West also amended its prepayment facility with Trafigura by which payments due will cease until the mining operations resumed.
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This figure is based on prepayment data, he said, and it has been consistent over the past couple of decades.
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This will result in an increase to the cap price, with prepayment customers paying around 1 pound a week more.
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The proceeds will be used by UAB for general corporate purposes and prepayment of an existing syndicated facility, it said.
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Additionally, the rules of budget travel apply: Many deals are in the off-season or require prepayment and are nonrefundable.
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If you start to make payments before the grace period, there is no minimum payment and no penalty for prepayment.
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Pemex said it plans to use the government capital for the prepayment of bonds that mature in 2020 and 2023.
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Earnest, known for its student loan refinancing, offers vacation loans starting at 5.99% APR, and there are no prepayment fees.
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If you plan to do this, you must make sure your loan contract specifies that there are no prepayment penalties.
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Increasing traded volumes is one way to raise profits and competition is fierce for prepayment deals with state oil firms.
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"No country has attained universal population coverage based on a system organized around voluntary prepayment," the World Bank researchers wrote.
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However, for its student loan refinancing product, Credible does say that none of its partners charge origination fees or prepayment penalties.
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The vessels fell into limbo because PDVSA demanded prepayment for the cargos after sanctions were imposed, which U.S. firms cannot do.
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This holding company debt prepayment comes after the disposal of both Big C Thailand and Vietnam for around EUR4bn in 1Q16.
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A trader close to the deal said PBF Energy ultimately agreed to a prepayment, removing the need for a credit letter.
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The other component that day was that it was a tax prepayment date and corporations were looking for short-term cash.
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A cap on prices for prepayment meter customers is being introduced as part of new rules set by UK energy regulator Ofgem.
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WTT has paid HKD270 million up to August 2017, which includes a prepayment of HKD13 million on its senior secured bank facility.
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It is supposedly a prepayment plan for medical care: your care is decided by the payer, not by you or your doctor.
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In a situation where Pied Piper's revenue growth exceeds expectations, prepayment discounts are built into the structure, lowering the cost of capital.
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While the writers of the final bill had the opportunity to prohibit prepayment of local property taxes, they did not do so.
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Asset-backed and mortgage-backed securities are subject to additional risks such as prepayment risk, liquidity risk, default risk and adverse economic developments.
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"The prepayment of such loans will allow the Del Monte Pacific Group to de-leverage and strengthen its balance sheet," the company said.
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The KRG said on Monday it had received $100 million in February from a new prepayment commitment, without saying where it came from.
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But in an indication of the hard road ahead for Democrats, the Internal Revenue Service issued guidance on Wednesday limiting the prepayment option.
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Considering that many of the other loans on this list don't carry administrative fees, prepayment fees, or origination fees, Avant's fee is high.
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The electronics retailer will offer receivables prepayment, among other services, through a three-year partnership with Getnet, Santander Brasil's credit card processing unit.
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But by compelling employers to deduct taxes from each paycheck as prepayment, the pain of filing taxes could be turned on its head.
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For all its concerns, the CMA refrained from ordering a price cap for people on SVTs, except the poorest, who are on prepayment meters.
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Petrobras said Engie proposed to pay $8.6 bln, including the prepayment of $800 million of TAG credit with development bank BNDES, the filing added.
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As collateral for prepayment on oil deliveries, Rosneft said last week it had received a stake in PDVSA's U.S. refining and marketing arm Citgo.
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"A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017," the IRS notice said.
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Until then, discussions hosted by the EU are limited to terms on pricing and volumes for winter gas supplies, based on prepayment by Ukraine.
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LONDON, Jan 31 (Reuters) - Britain's competition watchdog is reviewing whether it still needs to cap charges for prepayment meter customers, it said on Thursday.
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The main driver for the lower BE AP is the new 'AA+' tested PD scenario as well as updated prepayment assumptions applied in the analysis.
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You have lots of choices for paying off your mortgage early, but check with your lender first to see if there are any prepayment penalties.
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However, low constant prepayment rates suggest that borrowers have been unable to refinance, leaving the performance of the pools highly sensitive to future interest increases.
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"A prepayment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 20173," according to the IRS announcement.
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The final version of the tax overhaul specifically prohibits taxpayers from taking a deduction in 22017 for prepayment of 231 state and local income taxes.
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Marty Abo, owner of Abo and Company, an accounting firm in Mount Laurel, N.J., has received many queries about prepayment of state and local taxes.
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Analysts at Jefferies investment bank said the move would likely involve extending a cap that now covers users of domestic prepayment meters to include other customers.
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In 2012, a RAC Prepayment Review Demonstration Project was approved and implemented to audit a limited number of certain error-prone claims before they were paid.
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Most would consider prepayment reviews to be a very common sense billing practice, requiring that provider claims be examined for billing accuracy before they are paid.
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We continue to believe that seeking authority to allow RAs to conduct prepayment reviews is consistent with CMS's strategy to pay claims properly the first time.
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RAC prepayment claim reviews are tested and proven to be very successful in preventing vital resources from leaving the program in error in the first place.
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Borrowers must be made aware of interest rates, payment schedules, prepayment charges, fees and costs and all information should be explained clearly and unambiguously in advance.
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But with no specific ban on property-tax prepayment, many homeowners — especially those in high-tax states — have headed to their local government offices to prepay.
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These prepayment strategies are being rolled out by hospitals across the country because the financial equation has changed so much for patients – even the insured ones.
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The asset disposal loss component is mostly driven by the negative carry resulting from Fitch's re-investment cost assumptions under a high prepayment scenario (45% p.a.).
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Around 3 million households are expected to benefit from the tariff change, reducing the average yearly bill to £1,048 from £1,067 for a dual fuel prepayment customer.
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In FY85033, CMS launched a Medicare FFS Prepayment Review Demonstration project to allow RACs to review certain error prone claims within 11 states before they were paid.
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In fiscal 2012, CMS launched a Medicare Prepayment Review Demonstration Project to allow RACs to review certain error prone claims within 85033 states before they were paid.
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Before applying for an auto loan refinance, you'll want to make sure that you aren't underwater on your loan and that it doesn't have a prepayment penalty.
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How it Works: Once users download the Lyft app and enter a prepayment method, they can request a ride by entering their pickup and drop off location.
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Rosneft also said that India's Nayara Energy, which it partly owns, had signed a $750 million long-term prepayment contract to export oil products to BP and Trafigura .
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We strongly recommend that Congress not only re-start the RAC Prepayment demonstration, but extend it to become a national demonstration program while permanent legislative authority is pending.
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The restriction, intended to cut prepayment customers' bills by around 300 million pounds ($394 million) a year, was subject to a mid-term review starting in Jan. 2019.
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Property tax prepayment deadline looms as homeowners scrambleThis year-end donation strategy could reap big savings for retireesA tax break for disasters largely disappears under the new law
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But before you start lining the money up, check with your local taxing authority about whether it allows prepayment — and how much you can actually pay in advance.
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So the new bill's prohibition on prepayment of next year's state income taxes does not keep you from making that fourth-quarter state income tax payment on Dec.
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Many plan providers also offer — sometimes at additional cost — 24-hour assistance with medical referral, translation services and even prepayment to foreign medical providers, given enough advanced notice.
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OSLO, Aug 7 (Reuters) - British energy regulator Ofgem will cut the maximum amount that prepayment gas and electricity customers pay by up to 19 pounds ($24.79) annually from Oct.
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Some analysts say it may be encouraged to make a big tax prepayment to Gécamines to preserve its assets (it would probably have to verify where that money goes).
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The updated maturity extension period has offset the decrease in AP stemming from a higher 'AA+' tested PD scenario as well as updated prepayment assumptions applied in the analysis.
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Cielo's income from prepayment of receivables, a key source of revenue for real sector companies that accept payments with cards, has grown dramatically over the past couple of years.
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Analysts at UBS Securities estimate that the reduction in receivable settlement periods would remove roughly 30 percent of prepayment revenues, bringing Cielo's earnings per share down by 11 percent.
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SSE's move follows recent, although non-prepayment related, gas and electricity price increases announced by Scottish Power, Innogy-owned Npower, and EDF Energy, the UK arm of France's EDF.
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Cielo's income from prepayment of receivables, a key source of revenue for retailers and other companies that accept payments with cards, dropped 3.1 percent last quarter - more than expectations.
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The company now wants to use €215m of the new €600m term loan B to repay the PIK loan, which charged double digit interest margins, and associated prepayment penalties.
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The Stars Group, formerly known as gaming company Amaya, saw shares jump 9.4 percent to C$23.32 after it raised its 2017 outlook and announced an additional debt prepayment.
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Prepayment of receivables, through which Cielo helps retailers settle their commercial bills more rapidly, also declined 29.4 percent in the quarter from one year earlier, to 405.2 million reais.
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Vitol won a tender in 2016 for the right to make prepayment for KMGK's share in oil supplies from the Kashagan oil field worth $1 billion over five years.
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Project finance terms from South Korea and Japan are "more reasonable" than from China, but Chinese firms, more aggressive in their approach, are quick to offer prepayment, he added.
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On Thursday, Gazprom said it had returned a prepayment to Ukraine and would not restart gas supplies as an additional agreement to the existing arrangements had still not been reached.
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The prepayment issue is one of many areas where the IRS will have to issue new guidance in the coming weeks and months as it implements the new tax law.
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On Thursday, Gazprom said it had returned a prepayment to Ukraine and would not restart gas supplies as an additional agreement to the existing arrangements had not yet been reached.
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Besides whatever amount you take out, you'll have to pay interest — and some loans might tack on an extra fee if you pay if off early, called a prepayment penalty.
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The FCA said the digital token issued may represent a share in a firm, a prepayment voucher for future services or in some cases offer no discernible value at all.
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"For the 2007 vintage, we've seen much higher rates of prepayment out of those HELOCs, mostly because there's been such a favorable interest environment," said Mitch Cohn, spokesman for Black Knight.
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The final version of the tax legislation includes a provision that would disallow a deduction in 2350 for any prepayment of 249 state and local income taxes (otherwise known as SALT).
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Before the crisis, investors assumed interest-rate and prepayment (unscheduled early return of principal) risk, but Fannie and Freddie guaranteed coupon and principal payment, even when the underlying loans would default.
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This year, there's a twist: The authors of the tax bill cut off one prepayment move that many people had hoped to make while leaving at least two other options open.
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SZ) said on Tuesday it will receive a 2.8 billion yuan ($419.29 million) prepayment from a long-term contract to supply batteries to BMW Brilliance, a joint venture between Germany's BMW (BMWG.
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Small savers would use any available form of prepayment—gift vouchers, long-term subscriptions, urban-transport cards or mobile-phone SIM cards—to avoid the cost of having money in the bank.
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The facility will be provided by National Australia Bank Limited (NAB, AA-/Stable/F1+), and is sized assuming a constant prepayment rate of 0% in the first six months and 10% thereafter.
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WFC also reported a 13% decline in mortgage banking noninterest income due to lower mortgage origination revenue, more than offsetting improved servicing income from the rise in rates and slowing prepayment speeds.
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Prepayment of receivables, through which Cielo helps retailers settle their commercial bills more rapidly, slipped for a third straight quarter to 648.6 million reais - the lowest since the third quarter of 2015.
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In addition, CMS has the opportunity to ask Congress to authorize a permanent RAC prepayment review program to catch provider billing errors and correct them before claims are approved and beneficiaries billed.
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In the Nassau County village of Port Washington North, Mayor Bob Weitzner received so many questions about property tax prepayment that he asked his town clerk to contact state officials for guidance.
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The GAO recommendations are based on their analysis of the Recovery Auditors (RAC) which allowed auditors to review a subset of claims before they were paid to test the efficacy of prepayment review.
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Another hazard is "prepayment risk" when borrowers refinance their loans, stopping interest income on the old loans and returning investor's principal early — typically at a bad time to reinvest because yields are down.
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This changed the way premium amortization on its bond portfolio was calculated from one based on estimated principal prepayments assumptions to one based on a constant effective yield adjusted for actual prepayment experience.
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Prepayment of receivables, through which Cielo helps retailers settle their commercial bills more rapidly, slipped for a fourth straight quarter to 574 million reais - the lowest since the first three months of 2015.
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Filers who select a prepayment plan, meanwhile, would be able to set aside more money to cover normal costs under her proposal, which would also allow borrowers to modify their mortgages in bankruptcy.
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TFS considered coming to the market earlier but preferred to wait after July 15, 2016 when its prepayment penalty rate halved to 4 percent, allowing the company to save $8 million, Stevens said.
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"As such approval has not been granted ... and is not reasonably expected to be granted in the near future, the company will exercise the prepayment of the loan in January 2020," it added.
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Annual cash interest payments in 0003 and 2018 should fall by over 50% from the 2016 level of MXN2.4 billion, which was high due to expenses related to the prepayment of Axtel's previous bonds.
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Variable investment income dropped nearly 20 percent to $236 million due to the sale of a real estate joint venture interest in the prior year period and lower prepayment fee income, the insurer said.
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The cash flow valuation component leads to a lower 'AAA' breakeven OC by 6.2% due to positive excess spread on the assets versus the covered bonds in a Fitch's worst case high prepayment scenario.
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The proceeds from the potential debt sale will be used for the prepayment of certain existing equity bridge and subordinated loan facilities, and for general corporate purposes of the ACWA Power Group, the document states.
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The bank is actively developing its instruments for short-term prepayment of future grain supplies from farmers - an area where it competes with VTB Capital, the investment banking unit of Russia's No.2 bank VTB.
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"KMGK received an additional prepayment on August 10, 2017 for the amount of $600 mln and made early repayment of the second installment … for a total sum of $804.4 mln," KMGK said on its website.
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Yes. Federal student loans do not have prepayment penalties, so you can pay off the debt early, or make extra monthly payments to pay down the loan faster, according to the Consumer Financial Protection Bureau.
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NEW YORK, Oct 274 (LPC) - US corporations hovering above junk territory are gravitating to the highly liquid bank market to fund acquisitions, and maintain their ratings and prepayment flexibility, while keeping market volatility at bay.
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Under the supply deal, Europe's largest zinc smelter will ship physical zinc to Trafigura over three years, in return for a prepayment of $150 million, Nyrstar Chief Executive Bill Scotting said in an interview with Bloomberg.
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Because that payment is for the fourth quarter of this year (even though you don't have to pay it until 16 days into next year), it's not technically a prepayment if you pay it this year.
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The stressed cash flow valuation component reduces the 'AAA' breakeven OC by 5.4%, a lower positive effect than previously, primarily due to Fitch's updated prepayment assumptions for Australia that reduce the excess spread modelled for the programme.
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"In 2007, Impala prepaid the estimated contractual Royal Bafokeng royalty and the Royal Bafokeng used this prepayment to subscribe for shares in Implats," Implats said, referring to a deal that helped Implats meet the black ownership target.
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Rather than discourage appraisal petitions, the elimination of interest accrual through prepayment may actually spur more appraisal actions because hedge funds would be paid sooner and be able to use that money to bring more appraisal actions.
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Glencore, which declined to comment, has made a prepayment in recent days to the government of Iraq's semi-autonomous region which will start allocating it crude from mid-year, the sources told Reuters on condition of anonymity.
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"(The review) now recommends that Ofgem should continue to protect prepayment customers once the CMA's cap expires, given that the full roll-out of smart meters will not have completed by 2020," the CMA said in a statement.
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You'll want to find out upfront whether your lender charges a prepayment penalty, in case you want to pay back the loan ahead of schedule, and how much you'll be expected to pay in fees and closing costs.
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The company has over $300 million of mortgages maturing in 2017, and Fitch expects the company will pull forward an additional $0003 million in 2020 mortgage debt later this year when it will not incur any prepayment penalties.
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In February, energy market regulator Ofgem said British energy customers covered by a cap for the most vulnerable households, typically on prepayment meters, would see bills increase by an average of 57 pounds a year from April 1.
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Additionally, the deduction is disallowed under the alternative minimum tax, a parallel tax system that is designed to prevent high-income households from paying too little in taxes, so taxpayers who already pay that tax wouldn't benefit from prepayment.
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The lower prepayment rate of 0% (previously 3%) assumed in the analysis has increased the amount of assets modelled by Fitch to be sold to cover the large value of maturing liabilities following a switch of recourse to the cover pool.
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The lower prepayment rate of 0003% (previously 3%) assumed in the analysis has increased the amount of assets modelled by Fitch to be sold to cover the large value of maturing liabilities following a switch of recourse to the cover pool.
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"The solution will be integration (both horizontally within specialties and vertically between primary care and specialty care and outpatient and inpatient), capitation (prepayment), modern technology (comprehensive electronic health record, secure e-mail and video) and physician leadership," Pearl has said.
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Not only does refinancing often involve additional fees to the borrower with each new loan, but early prepayment of these loans pooled into mortgage-backed securities can result in lower prices on these securities and ultimately higher interest rates for borrowers.
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The difference in interest rate between assets and liabilities is high enough to result in sufficient excess spread even in a high prepayment scenario, in turn leading to a higher stressed present value of the assets than that of the liabilities.
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The 'AAA' breakeven OC is further driven by the asset disposal loss component (4.3%), reflecting (i) the negative carry calculated in a high prepayment scenario; and (ii) the cushion between the model output and the legal minimum OC of 5%.
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In addition, while RACs currently review claims on a post-payment basis, CMS also has the opportunity to ask Congress to authorize a permanent RAC prepayment review program to catch provider billing errors and correct them before funds are improperly spent.
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In fact, the Government Accountability Office (GAO) has twice recommended Congress implement a permanent RAC prepayment review program to prevent improper Medicare spending, but the Department of Health and Human Services (HHS) has thus far declined to move the program forward.
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The slower prepayment speeds in August may be short-lived as lenders seek to ratchet up their businesses in anticipation of a pickup in refinancing with 30-year mortgage rates hitting their lowest levels since the autumn of 2016, they said.
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Cyxtera's request to refinance its second-lien loan in the first year with a lower prepayment penalty if the tax changes are passed is anticipating a significant shift in the cost of debt that could alter the entire capital structure, Koplik said.
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SAO PAULO, May 2 (Reuters) - Cielo SA beat first-quarter profit estimates on Monday, reflecting management efforts to curb expenses and boost receivables prepayment income even as the harshest recession in decades dragged down volumes for Brazil's No. 1 card payment processor.
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However, ARM [adjustable-rate mortgage] prepayment rates have now jumped to their highest level since 13 as borrowers have sought to shed the uncertainty of their adjustable-rate products for the security of a low, fixed interest rate over the long haul.
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But the IRS issued guidance last week that restricted the number of taxpayers that could get a tax benefit from prepayment, saying that prepaid property taxes are only deductible if the taxes were both assessed and paid before the end of 2017.
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In 2016, the Competition and Markets Authority (CMA) said UK retail gas and electricity markets were not working well for customers and imposed a restriction on the unit rate and standing charge for tariffs available to domestic customers on prepayment meters until 2020.
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The new loan website will no longer have to allow the user to view it in Spanish, and it will not have to include a prepayment calculator to help borrowers evaluate how making payments before they are due would reduce their loans' cost.
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The sources said Standard Chartered was hired to advise on the oil prepayment and a request-for-proposal was issued a few weeks ago for a $3.5-$5 billion loan to be repaid with crude over five to seven years, the sources said.
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The default rate, default timing, prepayment rate, recovery rate and time to recovery, together with the portfolio's weighted-average yield, were stressed in Fitch's Global Consumer ABS cash flow model to assess the sufficiency of cash flow for timely payment at the current rating level.
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The default rate, default timing, prepayment rate, recovery rate and time to recovery, together with the portfolio's weighted-average yield, were stressed in Fitch's Global Consumer ABS cash-flow model to assess the sufficiency of cash-flow for timely payment at the current rating level.
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A spokeswoman for Trafigura also confirmed the $150 million prepayment, but declined to comment on whether the it would tender for Nyrstar's European marketing rights when the current contract, held by embattled Hong Kong based trading house Noble, expires at the end of the year.
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In a notice on its website, the IRS said that, in general, a full deduction for the prepayment of state or local property taxes depends on whether the taxpayer makes the payment this year and whether the property taxes are assessed prior to 2018.
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The default-rate, default timing, prepayment-rate, recovery-rate and time-to-recovery, together with the portfolio's weighted-average (WA) yield, were stressed in Fitch's ABS cash flow model to assess the sufficiency of cash flow for timely payment at the current rating level.
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The Competition and Markets Authority (CMA) said in 2016 that UK retail gas and electricity markets were not working well for customers and it imposed a restriction on the unit rate and standing charge for tariffs available to domestic customers on prepayment meters until 2020.
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The default rate, default timing, prepayment rate, recovery rate and time to recovery, together with the portfolio's weighted-average (WA) yield, were stressed in Fitch's ABS cash flow model to assess the sufficiency of cash flow for timely payment at the current rating level.
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Britain's competition body in 2016 ordered suppliers to cap prices for customers on prepayment meters but the latest plan by May's Conservatives would mark the first time since privatization of the industry in 1990 that a government intervenes to cap prices across the market.
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In a statement submitted to the Tribunal by an attorney for the restaurant, officials said the establishment had implemented a prepayment policy years ago for customers who were nor "regulars" at the restaurant in an attempt to prevent dining-and-dashing, according to the Washington Post.
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Without a significant supply of new money deals in which to invest as repayments accelerate, investors are forced to decide whether to chase the market down, holding onto assets they like, or to be taken out by the institutional market and hopefully earning favorable prepayment fees.
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LONDON (Reuters) - Nigeria's state oil firm is looking to set up a $3.5-$5 billion cash-for-crude prepayment with some of the world's top commodity traders to fund oil and gas upstream projects as well as related infrastructure, sources with direct knowledge of the matter said.
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Russia responded by returning a prepayment from Ukraine, saying it would not restart shipments until the contract was amended, but the point is Russia won't have a free hand in Ukraine; the U.S. has signaled this by authorizing the sale of anti-tank missiles to Kiev.
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You may also want use them for a financial-planning tool that I value very highly for unexpected opportunities or emergencies: an unused home-equity line of credit (preferably with a rate no higher than Prime plus one, no origination fees, no annual fees and no prepayment penalties).
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Other top Bloomberg expenses disclosed Friday include $3.3 million in polling and $14 million to his company, Bloomberg LP, that campaign officials describe as a "prepayment" for expenses the campaign is likely to incur, such as the operation of the corporate-owned plane Bloomberg uses on his campaign.
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SAO PAULO, March 29 (Reuters) - Changes to Brazil's credit card lending and receivable prepayment practices have to be implemented gradually so as to not derail an economic recovery while cutting borrowing costs in a sustainable manner, a top central bank official told Valor Econômico newspaper in an interview published on Wednesday.
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Liquidity has declined compared with end-2016 notably because of the voluntary prepayment of the outstanding principal and accrued interest of FCA US's tranche B term loan maturing in May 2017 for EUR1.7 billion, the repayment in 5003 of two large notes and other long-term debt for a total EUR3 billion, and negative FX movement of EUR1.1 billion.
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Although 2017 got off to a busy start, refinancing and repricing deals have driven issuance, supported by a 'bond to loan' trend, junior loan takeouts and an increase in add-ons, as private equity firms take advantage of the deep liquidity in the leveraged loan market to attain favourable senior loan pricing on covenant-lite loans, with no prepayment penalties.
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In November 2013, Gazprombank, GPB GR, Petrozamora and PDVSA signed an oil prepayment facility of up to $1 billion to finance the investment program and operational activity of Petrozamora JV. Russia is a major investor in Venezuela but this poses risks to Russian companies now that the United States has imposed sanctions on PDVSA and other entities linked to it.
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MOSCOW (Reuters) - KazMunaiGas Kashagan (KMGK), a subsidiary of Kazakhstan's state oil company KazMunaiGas, has extended a deal with international trader Vitol on pre-export financing of oil supplies from the Kashagan field with an additional prepayment of $600 million, the subsidiary's press-service reported KMGK is using the funds to pay for its 8.48 percent stake in Kashagan, which it acquired in 2008.
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Negative rating actions would likely occur if either: --Key contract losses or increased competitive pressures result in expected adverse operating performance characterized by further negative revenue growth or EBITDA margins below 16.0%; --Adverse operating performance, increased shareholder capital returns or acquisitions diminish debt reduction such that total debt to EBITDA is not expected to decline below 3.0x, or voluntary prepayment of debt is expected to be on the order of less than $125 million annually.
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KEY ASSUMPTIONS Fitch's key assumptions within the rating case for the issuer include: --Average revenue growth of 7.5% per year during 2016 - 2019; --EBITDA margins close to 8.8% on average during 2016 - 2019; --Prepayment of the USD350 million senior notes with a USD200 million capital increase and a new credit facility for MXN3 billion; --CFO generation above MXN0003 billion per year; --Average annual capex of MXN798 million during 2016 - 2019; --Cash dividend payments of 50% of net income.
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ANNOUNCES $150 MILLION CONVERTIBLE NOTES OFFERING * ACCELERATE DIAGNOSTICS - INTENTION TO OFFER $150.0 MILLION OF CONVERTIBLE SENIOR NOTES DUE 2023 * ACCELERATE DIAGNOSTICS INC - EXPECTS TO USE PART OF PROCEEDS OF OFFERING TO PAY PREPAYMENT AMOUNT OF THE PREPAID FORWARD * ACCELERATE DIAGNOSTICS - EXPECTS TO ENTER PRIVATELY NEGOTIATED PREPAID FORWARD WITH AFFILIATE OF ONE OF INITIAL PURCHASERS OF NOTES * ACCELERATE DIAGNOSTICS INC - WILL PURCHASE ITS COMMON STOCK FOR SETTLEMENT ON OR AROUND MARCH 15, 2023 Source text for Eikon: Further company coverage:
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AND PAID ALL AMOUNTS OUTSTANDING * SENSEONICS HOLDINGS INC - ENGAGING MOELIS & COMPANY, LLC AS CO'S FINANCIAL ADVISOR AND COOLEY, LLP AS CO'S LEGAL ADVISOR * SENSEONICS HOLDINGS - INCLUDING A PAYOFF FEE AND PREPAYMENT PREMIUM, AMOUNT PAID BY COMPANY TOTALED $48.5 MILLION WITH REGARD TO TERMINATION OF AGREEMENT * SENSEONICS HOLDINGS INC - FOLLOWING PAYOFF OF OBLIGATIONS, COMPANY HAS NO SECURED DEBT OUTSTANDING * SENSEONICS HOLDINGS INC - IN LIGHT OF REPAYMENT, COMPANY IS IN DISCUSSIONS WITH NEW FINANCING SOURCES Source text for Eikon: Further company coverage:
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AGREES TO SELL MULTI-FAMILY PROPERTY FOR MORE THAN $97 MILLION * BRT APARTMENTS - ENTERED INTO A CONTRACT TO SELL FOUNTAINS APARTMENTS, A 542 UNIT PROPERTY LOCATED IN PALM BEACH GARDENS, FLORIDA, FOR ABOUT $97.3 MILLION * BRT APARTMENTS CORP - ESTIMATES THAT SHARE OF GAIN ON PROPERTY SALE, NET OF ITS SHARE OF MORTGAGE PREPAYMENT CHARGES, WILL BE ABOUT $20.5 MILLION * BRT APARTMENTS - ANTICIPATE IN SHORT-TERM, CO TO RECYCLE PROCEEDS FROM SALE INTO ACQUISITION OPPORTUNITIES Source text for Eikon: Further company coverage:
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Announces amendment to debt facility * Has entered into an agreement with its lenders to amend certain terms of company's debt facility that closed in march 2015 * Parties to amendment have agreed to release $26.8 million of restricted cash of 2015 debt facility * The $26.8 million of restricted cash is to be applied towards future debt repayments, interest and certain fees * Following prepayment, amounts due under 2015 debt facility are $645.4 million * Parties to amendment have agreed to relax certain covenants of 2015 debt facility Source text for Eikon: Further company coverage:
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Reports earnings and dividend * Oritani Financial Corp qtrly earnings per share $0.54 * Oritani Financial Corp - net interest income increased by $1.6 million to $26.8 million for three months ended March 31, 2017 * Oritani Financial-is considering balance sheet restructure which,among other effects,would offset portion of real estate JV gain realized in quarter ended March 31 * Oritani Financial- if enacted,balance sheet restructure to likely result in prepayment fees that would negatively impact results for quarter,year ending June 30, 2017 Source text for Eikon: Further company coverage:
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