Plymouth to get 1,000 new affordable homes by 2026
Plymouth Community Homes has secured millions from the bank to bring the project to life
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Plymouth’s largest social housing landlord is to build 1,000 new homes after securing a £65million loan from NatWest bank.
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Required fields Aareal Bank Group posts clearly positive consolidated operating profit in the first quarter, forecast affirmed for full year 2021 Wiesbaden, 11 May 2021 - As expected, Aareal Bank Group has returned to profitability in the first quarter of the current financial year.
Return to profitability: first-quarter consolidated operating profit of €32 million
Loss allowance down to only €7 million at the start of the year, following comprehensive allowance recognised in the 2020 financial statements
New business in the Structured Property Financing segment is solid despite the ongoing pandemic; margins remain attractive and loan-to-value ratios on a good level; well-stocked deal pipeline, portfolio volume climbs to € 28.2 billion
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF
NOTEHOLDERS.
If Noteholders are in any doubt about any aspect of the proposals in this notice and/or the action they should take, they are recommended to seek their own financial advice immediately from their broker, bank manager, solicitor, accountant or other financial adviser authorised under the Financial Services and Markets Act 2000 (if they are in the United Kingdom) or from another appropriately authorised independent financial adviser and such other professional adviser from their own professional advisers as they deem necessary.
FURTHER INFORMATION REGARDING THE MATTERS REFERRED TO IN THIS ANNOUNCEMENT IS AVAILABLE IN THE CONSENT SOLICITATION MEMORANDUM (THE CONSENT SOLICITATION MEMORANDUM ) ISSUED BY THE ISSUER ON 13 APRIL 2021, AND ELIGIBLE NOTEHOLDERS (AS DEFINED BELOW) ARE ENCOURAGED TO READ THIS ANNOUNCEMENT IN CONJUNCTION WITH THE SAME.
I. What’s the issue?
The London Interbank Offered Rate (“LIBOR”) is the most widely used interest rate benchmark in the world, referenced in some $373 trillion notional value of financial transactions of all types. But in light of the various price-fixing scandals surrounding LIBOR and the limited activity in the London interbank market, the U.K. Financial Conduct Authority (“FCA”) announced in 2017 that it will no longer sustain the publication of LIBOR as a reference rate by the end of 2021. LIBOR’s administrator now plans to retire 3-, 6-, and 12-month U.S. dollar LIBOR in late June 2023, while leaving in place the end-of-2021 retirement date for 1-week and 2-month U.S. dollar LIBOR and for all LIBOR settings in British pounds, euros, Swiss francs, and yen. U.S. regulators have encouraged banks to transition away from LIBOR “as soon as practicable.”
IFLR Europe Awards 2021: winners announced
IFLR is delighted to announce all the winning deals, teams and individuals of its 22nd annual Europe Awards April 29 2021
IFLR is delighted to be able to congratulate all the winners of the IFLR Europe Awards 2021. The winners’ presentation can be accessed below, followed by the full list of all winners and reviews of the winning deals.
Allen & Overy picked up this year’s biggest accolade and was named International Law Firm of the Year. The firm scooped 11 award wins across the board, including Loans Team of the Year and Restructuring Team of the Year. These reflected its work on the winning Loan Deal of the Year, the reference-free-rate financing facility for UK retailer Tesco, and Restructuring Deal of the Year, for Virgin Atlantic.