Shawbrook’s Post

🚀 Spear REIT Limited: R457.75 Million Vendor Consideration Placement 📢 𝐊𝐞𝐲 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐞𝐦𝐞𝐧𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: Spear REIT Limited is pleased to announce that it has successfully concluded a vendor consideration placement, securing R457.75 million in new equity. 𝐒𝐡𝐚𝐫𝐞 𝐈𝐬𝐬𝐮𝐚𝐧𝐜𝐞 𝐚𝐧𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠: A total of 50,302,197 new shares will be issued at an issue price of R9.10 per share, reflecting a 1% discount to the volume-weighted average traded price over the last 30 trading days. 𝐔𝐬𝐞 𝐨𝐟 𝐏𝐫𝐨𝐜𝐞𝐞𝐝𝐬: The proceeds will be utilized to partially settle the R1.146 billion purchase consideration for acquiring the Western Cape property portfolio from Emira Property Fund. The acquisition is now expected to be completed by the end of October 2024, earlier than initially planned. 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐀𝐬𝐬𝐞𝐭𝐬 𝐚𝐧𝐝 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨: Following the acquisition, Spear’s assets under ownership will rise to R5.3 billion, adding a diversified portfolio of 93,500 m² of high-quality industrial, medical retail, and commercial office properties in Cape Town. 𝐔𝐩𝐜𝐨𝐦𝐢𝐧𝐠 𝐀𝐜𝐭𝐢𝐨𝐧𝐬: The listing and issuance of the new Spear shares are expected to commence on 23 September 2024. Post-placement, the loan-to-value (LTV) ratio is expected to be between 33% and 34%. 🔗 Read the full announcement here: https://lnkd.in/dYhibb-6 Quintin Rossi Christiaan Barnard Kim Pfaff-Karg Cliff Toerien Abubaker Varachhia Mike Flax Brian Goldberg Sean McCarthy Jalal Allie Bongani Raziya Roze Phillips #SpearREIT #VendorConsiderationPlacement #InvestorUpdate #RealEstateInvestment #REIT #FinancialPerformance #PropertyMarket #InvestmentOpportunities #JSE #MarketInsights #StrategicOutlook

The news is out and we are excited to share: Interra Credit Union and Bluffton Motor Works/Franklin Electric Employees’ Credit Union Merge! 🤝 We are thrilled to announce the successful merger of Interra Credit Union with Bluffton Motor Works/Franklin Electric Employees’ Credit Union, effective September 1st! This merger creates a stronger, more resilient institution with enhanced resources, innovative products, and a commitment to excellence in service. This merger boosts our resources, allowing us to offer expanded services and competitive rates. This move enhances accessibility for Bluffton members and enriches our product lineup, including advanced banking, diverse lending options, and comprehensive financial services tailored to meet a wide range of needs. Under the leadership of Interra’s CEO, Amy Sink, and COO, Andy Marshall, we’re excited to serve our expanded membership with exceptional value and support. According to a recent statement, https://rb.gy/zhy97w, Amy Sink states, “For over 90 years, Interra has been committed to being our members’ most trusted and valued financial resource. We are committed to making that true for our new Bluffton members as well." “I was born and raised in Wells County,” added Andy Marshall, COO. “For the people in my hometown area, Interra’s products offer unmatched value and support. We’re the nation’s #1 commercial credit union lender and #2 ag credit union lender. And with our full banking products, it’s easy to understand why Interra is a strong fit with this merger.” #JoinIN #CreditUnionMerger #CommunitySupport

Old National Bancorp said its acquisition of Bremer Financial is on target to close by midyear as planned, and the company left the door open for more dealmaking later this year amid expectations for eased regulatory reviews of M&A. https://lnkd.in/e-5g3eQY

The GP-led middle market is starting to boom. Ahead of SuperReturn International, Nicholas Lawler, Managing Director and Head of Secondaries at Churchill, speaks with #SuperReturn about the factors that are driving the increase in middle market GL-led transactions and how this growth is impacting the broader M&A market.

Camden National Corp., the parent company for Camden National Bank, has merged with Northway Financial Inc., the parent company of Northway Bank. This combined bank will have approximately $7 billion in assets and 73 branches in New Hampshire and Maine. https://lnkd.in/eDXPWuqN

Consolidation continues in the banking industry.

The Fifth Circuit sided with a group of lenders left out of a so-called uptier refinancing deal with Serta Simmons and retail chain Big Lots reached an eleventh-hour deal to thwart a total liquidation. Here's a look at bankruptcy news from the end of 2024. https://lnkd.in/eSwFvTaf

Second Avenue Capital Partners (SACP), a Schottenstein Affiliate, has provided a new term loan and revolving credit facility for True Religion Apparel, Inc. SACP once again served in various roles for this transaction including as Sole Arranger, Revolver Agent, Sole Revolver Lender, and Term Loan Lender. The new credit facilities supported the recently announced acquisition of a controlling stake in True Religion by ACON Investments, L.L.C. and its affiliates (“ACON”), along with strategic partner SB360 Capital Partners (“SB360”). SACP was the incumbent lender.    “We have a well-established and strong working relationship with SACP as our current lender,” said Michael Buckley, CEO of True Religion and a significant minority shareholder. “Their continued support of our business and the resources they brought to this acquisition will help us advance our goals as True Religion embarks on the next phase of our journey.” Read the full press release here: https://lnkd.in/eJ6XPrfE #TrueReligion #LifestyleBrand #Retail #FinancingSolutions #CreditFacility #UnlockValue 

First #Oanda, now #FTMO is going from online prop to full fledged broker. The forex and futures industry will continue to grow. Legitimate online prop firms based on replication models are a great place to launch a trading journey and learn the foundations of risk management. Passing an evaluation at Apex, Oanda or FTMO usually means you consistently returned 100% on actual margins! The only other thing that needs to happen is more checks and balances on payouts, rules and a clearinghouse structure or capital reserve system. Fantastic news in #Data and #Trading and #Cloud. #Forex #Futures #CME #Data #AWS #Trading

We are pleased to share PJT Park Hill’s Q1 2024 Secondary Market Insight. Q1 2024 secondary market volumes were up ~20% YoY at $27-32BN. We saw a 65% / 30% / 5% split across LP Portfolio Sales, GP Solutions and Structured Liquidity Solutions (“SLS”), respectively. In the LP market, Limited Partners continued to bring forward portfolios to generate liquidity after two years of reduced distribution activity. During the quarter, GPs brought an increased number of scaled multi-asset FCV transactions to the market. However, PJT believes that single-asset FCV volumes will grow rapidly, potentially doubling over the next five years. New secondary buyers entering the market and significant market supply point to record secondary volumes in 2024. Please see below for a link to the full report and do not hesitate to reach out if you would like to learn more about the current market dynamics. https://lnkd.in/efWtQY_4 PJT Partners #secondarymarket #secondaries #assetmanagement #privateequity #venturecapital #privatecredit #infrastructure #middlemarket #fundraising #strategy