MONTEVIDEO: Atlantica Sustainable Infrastructure Ltd. has officially acquired a 132-mile transmission line in Uruguay, further strengthening its footprint in the region. This transmission line, operational since 2019, is under a lease agreement with Uruguay’s state-run electricity company, UTE, until 2049. As part of this deal, UTE pays a fixed tariff in U.S. dollars, adjusted monthly for inflation….
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LendInvest completes sixth securitisation of £285 million UK prime buy-to-let and owner-occupied mortgage loans
LONDON: LendInvest plc (LSE: LINV), the UK’s leading platform for property finance and the parent company of LendInvest BTL Ltd and LendInvest Loans Limited, today announced the successful completion of its sixth securitisation in prime UK property loans originated by its Mortgages division. The £285m oversubscribed transaction, “Mortimer 2024-Mix Plc” received Aaa(sf) and AAA(sf) ratings…
Supermarket Income REIT announces acquisition of Carrefour Supermarket portfolio in France
LONDON: Supermarket Income REIT plc (LSE: SUPR), the real estate investment trust providing secure, inflation-linked, long income from grocery property, announced the acquisition of a portfolio of Carrefour supermarkets in France through a sale and leaseback transaction (“SLB”), for a total purchase price of €75.3 million (excluding acquisition costs), reflecting a net initial yield of…
Moody’s upgrades rating of Helios Towers
LONDON: Helios Towers plc, the independent telecommunications infrastructure company, announced Moody’s Investors Service has upgraded the Company’s long-term corporate family rating from B2 to B1 with a stable outlook. The rating on Helios Towers’ 7.000% Senior Notes due 2025 was also upgraded as part of the rating action to B1. The positive rating action reflects…
Gulf International Bank achieves record results in the past decade with 141% growth in net income
DUBAI: In the third quarter of 2023, the Gulf International Bank’s dedication and commitment to achieving strategic objectives resulted in a remarkable 255% increase in net profit attributable to the Bank’s shareholders, totalling $41.2 million for the quarter, surpassing the previous year’s $11.6 million for the same period. This outstanding achievement is primarily a result…
National Bank of Umm Al Quwain achieves 385 million dirhams in net profits during the first nine months of 2023
UNITED ARAB EMIRATES: National Bank of Umm Al Quwain (NBQ) has reported a net profit of AED 385 million for the 9-months period ended on 30 Sep 2023, reflecting a 48% increase compared to the AED 260 million for the 9-month period of 2022. This impressive result testifies to the bank’s commitment to operational efficiency…
Moody’s has downgraded the outlook on Israel
Moody’s downgrades Israel’s outlook from “positive” to “stable” following recent protests against proposed changes in the judicial system. The overall A1 rating remains in place, but the downgrade could result in Israel having to pay higher rates to potential borrowers, as well as limiting outside investment from the U.S. and Europe, which is crucial for…
Roger Moody is appointed new Chief Executive Officer of Biocartis Group
MECHELEN, BELGIUM: Biocartis Group NV, a molecular diagnostics company listed on Euronext Brussels, has announced changes to its executive management team. Roger Moody has been appointed as the new Chief Executive Officer, effective from April 24, 2023. Herman Verrelst, the current CEO, will transition to the role of Executive Chairman of the Board of Directors,…
Dubai Islamic Bank prices $750 million inaugural Sustainable Sukuk
DUBAI, UAE: Dubai Islamic Bank PJSC (DIB), rated A3 by Moody’s and A by Fitch successfully priced its inaugural Sustainable Sukuk – a landmark USD 750 million 5-year senior issue with a profit rate of 5.493% per annum representing a spread of 155bps over 5-Year US Treasuries. The Sukuk was issued in line with DIB’s…
GFH acquires US Medical Clinics portfolio valued at $400mn
MANAMA, BAHRAIN: GFH Financial Group announced increasing its exposure to the medical office/clinics sector through a second US Medical Clinics portfolio in a transaction valued at c. US$400 million. The income-yielding portfolio is comprised of 11 geographically diversified assets spread across four US states – California, Texas, Maryland and Louisiana. Covering an area exceeding 1…
Together Financial Services prices its largest ever mortgage backed securitisation (MBS)
LONDON, UK: Together Financial Services Limited, one of the UK’s leading mortgage and specialist loan providers, announced the pricing of its £499.4 million 1st charge only residential mortgage backed securitisation (RMBS), Together Asset Backed Securitisation 2022 – 1ST1 PLC RMBS (TABS7). Highlights · £499.4m 1st charge only RMBS – Seventh successful RMBS since 2017 – …
Sanctuary Group issues a tap of £150 million
LONDON, UK: Sanctuary Group has issued a £150m tap of its existing 2.375% secured bonds due 2050, a statement said. Successfully navigating the current volatile market backdrop, the tap issuance attracted a broad number of investors, with a final orderbook that was over 5x subscribed. The deal priced below the Group’s existing cost of capital,…