Operator
Good day, ladies and gentlemen. Thank you for standing by. Welcome to Houlihan Lokey s Fourth Quarter and Fiscal Year 2021 Earnings Conference Call. [Operator Instructions] Please note that this conference call is being recorded today, May 11, 2021.
I will now turn the call over to Christopher Crain, Houlihan Lokey s General Counsel.
Christopher M. Crain
Thank you, operator, and hello everyone.
By now, everyone should have access to our fourth quarter and fiscal year 2021 earnings release, which can be found on the Houlihan Lokey website at www.hl.com in the Investor Relations section.
Before we begin our formal remarks, we need to remind everyone that the discussion today will include forward-looking statements. These forward-looking statements, which are usually identified by use of words such as will, expect, anticipate, should, or other similar phrases are not guarantees of future performance. These statements are subject to numerous risks and uncertainties that
The Jordan Company Closes Acquisition of Spartech
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ST. LOUIS, May 10, 2021 /PRNewswire/ Spartech, LLC ( Spartech ) and The Jordan Company, L.P. ( TJC ) announced that one of TJC s affiliates has closed the acquisition of Spartech, a leading manufacturer of engineered thermoplastics and custom packaging solutions. TJC completed the acquisition in partnership with Spartech s existing management team. Nautic Partners will remain a minority shareholder. As part of the transaction, industry veteran Andy Brewer has become Executive Chairman. The investment by TJC will provide Spartech with new opportunities for growth and enhance its abilities to develop and deliver plastics solutions to its valued customers.
UBS Bankers Get $40,000 Bonus on Promotion to Associate Level swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
UBS Dangles $40,000 Bonuses to Slow Junior Banker Defections
This content was published on May 10, 2021 - 08:58
May 10, 2021 - 08:58
(Bloomberg) UBS Group AG will pay a $40,000 one-time bonus to its global banking analysts when they are promoted, doubling what some competitors are offering, as lenders seek to reward younger employees weighed down by a surge in dealmaking.
Starting as soon as this month the Swiss bank will pay the sign-on bonus to analysts promoted to associates on top of any regular salary increases, said people familiar with the move who asked not to be identified because the information is private. The amount represents about 30% of the annual base pay of a newly promoted associate, one of the people said.
Valaris Successfully Completes Restructuring
Improves Liquidity Position by Receiving $520M Capital Injection
Valaris Limited ( Valaris or the Company and together with its subsidiaries, the Valaris Group ) today announced that, on April 30, 2021, the Valaris Group has successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group s Plan of Reorganization (the Plan ) was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. Valaris now moves forward with a strengthened capital structure, eliminating $7.1B of debt and securing a $520M capital injection by issuing $550M of new secured notes maturing in 2028. As of April 30, 2021, Valaris had $615M of available cash, $40M of restricted cash and $550M of debt.