Term loan – Kent Tribune http://kenttribune.com/ Sat, 18 Sep 2021 00:34:47 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://kenttribune.com/wp-content/uploads/2021/05/icon.png Term loan – Kent Tribune http://kenttribune.com/ 32 32 Credit Card vs. Buy Now, Pay Later: Knowing the Best Option https://kenttribune.com/credit-card-vs-buy-now-pay-later-knowing-the-best-option/ https://kenttribune.com/credit-card-vs-buy-now-pay-later-knowing-the-best-option/#respond Sat, 18 Sep 2021 00:34:47 +0000 https://kenttribune.com/credit-card-vs-buy-now-pay-later-knowing-the-best-option/

Credit Card vs. Buy Now, Pay Later: Knowing the Best Option

New Delhi: Several fintech companies and even ecommerce players are giving people a myriad of options to expand their spending with Buy Now, Pay Later programs. With the “buy now, pay later” (BNPL) option, you can make a purchase now, but you are allowed to pay later without using a credit card.

What is Buy Now, Pay Later?

Buying now, paying later is a type of short-term financing. These point of sale installment loans are offered by a number of companies. BNPL can be used at a variety of major retailers, which differ from plan to plan. Some credit card companies also offer installment payment terms for eligible cardholders. Each buy now, pay later plan is unique to its provider, but they generally share a few things in common.

These BNPL loans usually require an initial down payment representing a portion, say 25%, of the purchase amount. Beyond that, the balance must be paid in several installments over a period of a few weeks or a few months. Some BNPL services set the total number of payments at four, while others allow borrowers to choose their own payment schedule based on their financial health. In terms of cost, buy now, pay later, plans often charge no interest and no fees except late fees for missed payments.

How does the buy now, pay later model work?

This concept is not new. In fact, Indians have always known it in an earlier form of payment known as the Khaata system, in which customers paid the entire bill all at once, usually at the end of the month, instead of paying. every time they make a purchase.

Although this system remains common practice in small towns and rural areas, a new twist has been added to the age-old concept of Khaata by digitizing it by these BPNL service providers.

BPNL allows customers to have a seamless shopping experience without having to disclose their bank details or go through multiple authentication steps every time they purchase something. Users can order food, groceries, medicine, etc., from hyperlocal merchants, etc., using the “buy now, pay later” platform, and pay the collected amount later. .

How are credit cards different?

Like buy now, pay off loans later, credit cards can be used at retailers. However, they can also be used to pay for gasoline, diesel, utility bill payments, and other types of expenses. If the cardholder pays their balance in full each month, they will owe no interest.

Credit cards vs BPNL: the better choice

While BNPL options only apply to a specific purchase from a specific merchant, credit cards can generally be used anywhere to make many types of purchases. If you have a credit card, you must pay at least the minimum amount due at the end of the month. However, with buy now, pay later, you might have a three, five, or 12 month option. This means that while BNPL can offer more flexible terms, credit cards will generally offer more flexible acceptance.

BNPL’s interest rates and fees vary widely. Some options bear no interest or fees, making it essentially free financing for the consumer. This is possible because BNPL providers always make money on merchant fees embedded in the product price, just as payment networks do on interchange fees for credit cards. They either have a fixed cost or no cost and are very straightforward in showing you how much it will cost.

The longer-term loans offered by BNPL – which can last up to 48 months – typically carry a similar interest rate to a traditional personal loan. However, unlike a loan or credit card, many BNPL providers do not verify credit when approving buyers, making it easier to access finance.

Credit card issuers, on the other hand, are likely to always withdraw your credit when you apply, so depending on your credit scores, this may not be an option for you. If you already have one and plan to use it to finance a purchase, be aware that credit card interest rates are generally variable and tend to be quite high.

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Realogy continues its deleveraging with term loan repayments https://kenttribune.com/realogy-continues-its-deleveraging-with-term-loan-repayments/ https://kenttribune.com/realogy-continues-its-deleveraging-with-term-loan-repayments/#respond Fri, 17 Sep 2021 12:00:00 +0000 https://kenttribune.com/realogy-continues-its-deleveraging-with-term-loan-repayments/

MADISON, New Jersey, September 17, 2021 / PRNewswire / – Realogy Holdings Corp. (NYSE: RLGY), the leading and most integrated provider of residential real estate services in the United States in United States, today announced that it has repaid a total of $ 435 million borrowings under its term loan facilities at September 16, 2021. Debt repayment was funded by available cash.

Refunds fully meet the $ 197 million principal amount of outstanding borrowings under its non-extended term loan facility A due February 2023 and the $ 238 million principal amount of outstanding borrowings under its term loan facility B due February 2025. The company expects to achieve approximately $ 10 millions of euros in cash interest expense savings each year through these refunds. The company also continues to have no outstanding balances on its revolving credit facility since October 2020.

“Realogy has achieved exceptional financial performance while maintaining a proactive focus on strengthening our balance sheet. The repayment of these short-term secured loans improves our liquidity profile and supports our continued efforts to manage our debt portfolio, ”said Charlotte simonelli, Chief Financial Officer and Treasurer of Realogy. “We have made tremendous progress to date and remain committed to continuing to deleverage, strengthen our balance sheet and strategically invest in our business for the future.”

About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is moving the real estate industry into the future. As the leading and most integrated provider of residential real estate services in the United States encompassing franchise, brokerage, relocation, ownership and settlement business as well as a mortgage joint venture, Realogy has supported approximately 1.4 million real estate transactions in 2020. The company’s diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, TIME®, and Sotheby’s International Realty®. Using innovative technology, marketing data and products, high-quality lead generation programs, and world-class learning and support services, Realogy fuels the productivity of its more than 194,200 independent sales agents in the States. United and approximately 142,700 independent sales agents in 117 other countries and territories, helping them build stronger businesses and better serve today’s consumers. Recognized for ten years in a row as one of the World’s Most Ethical Companies, Realogy has also been named a Great Place to Work three years in a row and is one of LinkedIn’s Top 2021 Companies in the United States.

Forward-looking statements

Certain statements contained in this press release constitute “forward-looking statements”. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Realogy Holdings Corp. statements. Any statement that refers to expectations or other characterizations of future events, circumstances or results are forward-looking statements.

Various factors that could cause actual future results and other future events to differ materially from those of forward-looking statements include, without limitation, those set forth under the headings “Forward-looking statements” and “Risk factors” in the documents filed by Realogy with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2020, its quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 and its other deposits made from time to time. Realogy does not undertake to publicly release revisions to forward-looking statements, except as required by law.

SOURCE Realogy Holdings Corp.

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Mortgage Rates Check Lower | September 16, 2021 https://kenttribune.com/mortgage-rates-check-lower-september-16-2021/ https://kenttribune.com/mortgage-rates-check-lower-september-16-2021/#respond Thu, 16 Sep 2021 12:46:17 +0000 https://kenttribune.com/mortgage-rates-check-lower-september-16-2021/

Mortgage rates fell again today, with a 30-year fixed-rate mortgage averaging 3.214%, the lowest average rate since the first week of August. All categories of fixed rate loans also experienced lower rates, while interest rates for variable rate mortgages were mixed.

Mortgage rates continue to approach record lows, giving qualified borrowers the opportunity to find and lock in an attractive rate and affordable monthly payments for buying a new home or refinancing a loan.

  • The last rate on a 30 year fixed rate mortgage is 3.214%.
  • The last rate on a 15 year fixed rate mortgage is 2.309%.
  • The latest rate on a Jumbo ARM 5/1 is 2.196%.
  • The latest rate on a 7/1 compliant ARM is 4.185%.
  • The latest rate on a 10/1 compliant ARM is 4.227%.

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score – roughly the national average – could pay if they applied for a home loan right now. Daily rates are based on the average rate of 8,000 lenders offered to applicants on the previous business day. Freddie Mac’s weekly rates will generally be lower, as they measure the rates offered to borrowers with a higher credit rating.

Current mortgage rates: 30-year fixed rate mortgage rates

  • The 30-year rate is 3.214%.
  • It’s a day decrease by 0.01 percentage point. ??
  • It’s a month offold by 0.07 percentage point.

Predictable interest rates and regular monthly payments make fixed rate mortgages the most popular type of home loan. The 30-year term is considered the loan of choice by most borrowers due to its long payback period, resulting in relatively low monthly payments. However, the interest rate will be higher than the rate on a shorter term loan, so you will pay more interest over the life of the loan.

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Average mortgage rates

Data based on U.S. mortgages closed September 15, 2021

Type of loan Sep 15 Last week Switch
Conventional Fixed 15 Years 2.31% 2.37% 0.06%
Conventional Fixed 30 Years 3.21% 3.26% 0.05%
ARM rate 7/1 4.18% 3.95% 0.23%
ARM rate 10/1 4.23% 3.67% 0.56%

Your actual rate may vary

Current mortgage rates: 15 years fixed rate mortgage rates

  • The 15-year rate is 2.309%.
  • It’s a day offold by 0.007 percentage point. ??
  • It’s a month offold by 0.087 percentage point. ??

A short term loan like a 15 year mortgage will have higher monthly payments than a 30 year loan of a similar size because the debt has to be paid off in less time. However, the interest rate tends to be lower than that of a longer term loan, giving you the advantage of not having to pay so much interest.

Current mortgage rates: jumbo variable rate mortgage rates 5/1

  • The ARM 5/1 rate is 2.196%.
  • It’s a day decrease by 0.002 percentage point. ??
  • It’s a month infold by 0.028 percentage point. ??

You can opt for a variable rate mortgage rather than a fixed rate loan. An ARM will start with a fixed, low, introductory, or “teaser” rate. After the fixed rate period ends, the interest rate will become variable and reset at regular intervals. The monthly payments will be fixed at first but will change with each change of rate.

A 5/1 ARM, for example, will have a fixed rate for five years and then change every year until the loan is paid off. There are several loan terms to choose from, including an ARM 7/1 and an ARM 10/1.

Current mortgage rates: VA, FHA and jumbo loan rates

The average rates for FHA, VA and jumbo loans are:

  • The rate for a 30-year FHA mortgage is 2.934%. ??
  • The rate for a 30-year VA mortgage is 2.941%. ??
  • The rate for a 30-year jumbo mortgage is 3.347%. ??

Current mortgage refinancing rates

The average rates for 30-year, 15-year and 5/1 jumbo ARM loans are:

  • The refinancing rate on a 30-year fixed rate refinance is 3.332%. ??
  • The refinance rate on a 15 year fixed rate refinance is 2.434%. ??
  • The refinancing rate on a Jumbo ARM 5/1 is 2.467. ??
  • The refinancing rate on a 7/1 compliant ARM is 4.484%. ??
  • The refinancing rate on a 10/1 compliant ARM is 3.807%. ??
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Average mortgage refinancing rates

Data based on U.S. mortgages closed September 15, 2021

Type of loan Sep 15 Last week Switch
Conventional Fixed 15 Years 2.43% 2.49% 0.06%
Conventional Fixed 30 Years 3.33% 3.4% 0.07%
ARM rate 7/1 4.48% 4.34% 0.14%
ARM rate 10/1 3.81% 4.05% 0.24%

Your actual rate may vary

Where Are Mortgage Rates Going This Year?

Mortgage rates fell through 2020. Millions of homeowners responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people have bought homes that they might not have been able to afford if the rates were higher.

In January 2021, rates briefly fell to all-time low levels, but tended to rise throughout the month and into February.

Looking ahead, experts believe that interest rates will rise further in 2021, but modestly. Factors that could influence the rates include how quickly COVID-19 vaccines are distributed and when lawmakers can agree on another cost-effective relief package. More vaccinations and government stimulus could lead to improved economic conditions, which would increase rates.

Although mortgage rates are likely to rise this year, experts say the increase will not happen overnight and it will not be a dramatic jump. Rates are expected to stay near their historically low levels throughout the first half of the year, rising slightly later in the year. Even with rates rising, this will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed took swift action when the pandemic hit the United States in March 2020. The Fed announced plans to move money through the economy by lowering the Federal Fund’s short-term interest rate between 0% and 0.25%, which is as low as they go. The central bank has also committed to buying mortgage-backed securities and treasury bills, thereby supporting the housing finance market. The Fed has reaffirmed its commitment to these policies for the foreseeable future on several occasions, most recently at a policy meeting in late January.
  • The 10-year Treasury note. Mortgage rates move at the same pace as the yields on 10-year government treasury bills. Yields fell below 1% for the first time in March 2020 and have slowly risen since then. Currently, yields have hovered above 1% year-to-date, pushing interest rates up slightly. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The economy in the broad sense. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are low, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels hit historic highs early last year and have yet to recover. GDP has also been affected, and although it has rebounded somewhat, there is still a lot of room for improvement.

Tips for getting the lowest mortgage rate possible

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes a bit of work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags that can lower your credit score. The borrowers with the highest credit scores will get the best rates, so it’s essential to check your credit report before you begin the home search process. Taking action to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which means how much of the home’s price the lender has to finance. A lower LTV usually results in a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the purchase of the house.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who is offering the lowest interest rate. Also consider the different types of lenders, such as credit unions and online lenders, in addition to traditional banks.

Also take the time to learn about the different types of loans. While the 30-year fixed-rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year loan or an adjustable rate mortgage. These types of loans often have a lower rate than a conventional 30-year mortgage. Compare everyone’s costs to see which one best suits your needs and financial situation. Government loans – such as those backed by the Federal Housing Authority, the Department of Veterans Affairs, and the Department of Agriculture – may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the lender will help ensure that your mortgage rate doesn’t increase until the loan closes.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by over 8,000 lenders in the United States for which the most recent rates are available. Today, we are posting the prices for Wednesday, September 15, 2021. Our rates reflect what a typical borrower with a credit score of 700 can expect to pay on a home loan right now. These rates were offered to people contributing 20% ​​and include discount points.

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PAR Technology Corporation Announces Pricing of Public Offerings of Common Shares and Convertible Senior Notes https://kenttribune.com/par-technology-corporation-announces-pricing-of-public-offerings-of-common-shares-and-convertible-senior-notes/ https://kenttribune.com/par-technology-corporation-announces-pricing-of-public-offerings-of-common-shares-and-convertible-senior-notes/#respond Wed, 15 Sep 2021 03:38:00 +0000 https://kenttribune.com/par-technology-corporation-announces-pricing-of-public-offerings-of-common-shares-and-convertible-senior-notes/

NEW HARTFORD, NY – (COMMERCIAL THREAD) – PAR Technology Corporation (NYSE: PAR) (the “Company” or “PAR”) today announced the price of its concurrent subscribed public offerings of 892,857 common shares (the “Share Offer”) and ” a total principal amount of $ 235.0 million 1.5% Convertible Senior Bonds due 2027 (the “2027 Bonds” and this offering the “Bonds Offer”). In addition, PAR has granted a 30-day option to the underwriters to purchase up to 89,286 additional common shares and up to an additional $ 30.0 million in aggregate principal of 2027 Notes.

The total net proceeds of the Offers, after deducting underwriting discounts and commissions and fees payable by PAR, are expected to be approximately $ 275.4 million, or $ 309.3 million if the Underwriters exercise their options to purchase the additional common shares and the 2027 Notes in their entirety. . PAR plans to use the net proceeds of the offers to repay the Company’s term loan in full (including accrued interest and prepayment premium) under its credit agreement with certain lenders and Owl Rock First Lien Master Fund , LP, as administrative agent and guarantee agent; the capital currently outstanding on this term loan is $ 180 million. PAR intends to use the remaining net proceeds of the offerings for general corporate purposes, including continued investment in growing PAR’s business and for other working capital needs. PAR may also use part of the net proceeds to acquire or invest in other assets complementary to the activities of the Company or to buy back other debts of the Company.

The 2027 Notes will be senior unsecured obligations of the Company. The 2027 Bonds will mature on October 15, 2027, unless they are redeemed, redeemed or converted earlier. Interest will accrue on the 2027 Notes at a rate of 1.5% per annum and will be payable semi-annually in arrears on April 15 and October 15 of each year, commencing April 15, 2022.

The 2027 Notes will be convertible at the option of the holders, prior to the close of business on the business day immediately preceding April 15, 2027, only in certain circumstances and during certain periods, and thereafter at any time until the close of business. the second business day immediately preceding the due date. The initial conversion rate for the 2027 Notes will be 12.9870 common shares of the Company for each principal amount of $ 1,000 of Notes (equivalent to an initial conversion price of approximately $ 77.00 per common share of the Company. ). The initial conversion price of the 2027 Bonds represents a premium of approximately 37.5% over the price per share offered under the Share Offer. Upon conversion, the 2027 Notes may be settled, at the option of the Company, for cash, common shares of the Company or a combination of cash and common shares of the Company.

The Company may redeem the 2027 Bonds in cash, at its option, from October 15, 2024, at a redemption price equal to 100% of their principal amount, plus accrued and unpaid interest until the redemption date, but to the exclusion, if the last declared sale price of the ordinary shares of the Company was at least 130% of the conversion price in effect for at least 20 trading days (consecutive or not) during a period of 30 consecutive trading days (including the last trading day of this period).

The offering of Shares and the offering of Notes are each expected to close on September 17, 2021, subject to customary closing conditions. Neither of the two offers is conditional on the completion of the other offer.

Goldman Sachs & Co. LLC acts as the sole accounting manager. BTIG, LLC, Needham & Company, LLC and Craig-Hallum Capital Group LLC act as co-managers for each of these offerings.

The Common Shares and the 2027 Notes are each offered by PAR pursuant to a registration statement filed with the Securities and Exchange Commission (“SEC”) on September 30, 2020.

Each of the Notes and Share Offerings is made only by way of a Prospectus and Prospectus Supplement. Preliminary Prospectus Supplements relating to and describing the terms of the Share Offer and the Note Offer have been filed with the SEC and may be obtained free of charge by visiting the SEC’s website at www. sec.gov. Final prospectus supplements relating to the Offerings will be filed with the SEC. Where available, copies of each of the Final Prospectus Supplements and accompanying prospectuses may also be obtained by contacting: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, phone: 866-471- 2526, fax: 212-902-9316 or email: prospectus-ny@ny.email.gs.com.

This press release does not constitute an offer to sell or the solicitation of an offer to purchase ordinary shares or the 2027 Bonds or any other security, and does not constitute an offer, solicitation or sale, in any jurisdiction in which such offering, solicitation or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.

Forward-looking statements.

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of future operations, financial condition, business strategies and prospects. Forward-looking statements are generally identified by words such as “anticipate”, “believe”, “believe”, “continue”, “could”, “having being resulting being being having being able to be having” These statements include, without s’ thereto, the Company’s intended offer of its Common Shares and the 2027 Notes and statements regarding the intended use of the proceeds of the Company’s offering of its Common Shares and the 2027 Notes. These forward-looking statements are subject to certain risks, uncertainties and assumptions, including, without limitation, market conditions, risks and trends. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results could differ materially from those expected. Further information on the potential risk factors that could affect the Company and cause actual results to differ materially from those expressed or implied by the forward-looking statements contained in this press release are included in the filed documents. by the Company to the Securities and Exchange Commission.


For over 40 years, PAR’s industry-leading products and services (NYSE Symbol: PAR) have helped bold and passionate restaurant brands build lasting relationships with their customers. We are the partner that corporate restaurants rely on when they need to serve incredible times from open to close, during the busiest peak hours and when the world is forcing them to adapt and change. overcome. More than 100,000 restaurants in more than 110 countries use PAR’s hardware, software, drive-thru and back-office solutions. With the recent acquisition of Punchh Inc., a leading provider of SaaS-based loyalty and customer engagement solutions, PAR has become a unified commerce cloud platform for corporate restaurants.

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Real Madrid midfielder Dani Ceballos available on loan https://kenttribune.com/real-madrid-midfielder-dani-ceballos-available-on-loan/ https://kenttribune.com/real-madrid-midfielder-dani-ceballos-available-on-loan/#respond Fri, 10 Sep 2021 20:31:24 +0000 https://kenttribune.com/real-madrid-midfielder-dani-ceballos-available-on-loan/

La Liga giants Real Madrid are said to be open to the prospect of loaning midfielder Dani Ceballos when the transfer window reopens in January.

Dani Ceballos, 25, returned to Real Madrid this summer after spending two years on loan with Arsenal, where he made 77 appearances in all competitions, scoring two goals and providing five assists.

However, he returned from the Tokyo 2020 Olympics with a complete tear in his anterior ankle ligaments that caused him to miss the entirety of the preseason and is likely to keep him out of action for months.

And with the summer acquisition of Eduardo Camavinga from Rennes and the presence of pillars of strength in the midfield in the form of Luka Modric and Toni Kroos, Ceballos probably won’t have many opportunities under Carlo Ancelotti this season once. that he will recover from an ankle. injury.

According to Spanish media Defensa Central, in addition to a possible short-term loan deal, Real Madrid could include a mandatory buyout clause worth around € 20-25million. That being said, here are three clubs who should be looking to get the Spanish midfielder moving.

# 1 Everton

Everton were interested in signing Donny van de Beek on loan from Manchester United by the deadline, but the Red Devils blocked the move. While a move for the Netherlands international did not materialize, the Toffees’ need for a new midfielder became evident.

That being said, Rafael Benitez and Everton would do a good job signing Dani Ceballos on loan from Real Madrid in January. Along with Allan and Abdoulaye Doucoure, Ceballos could form a strong midfield unit at Goodison Park and help Benitez’s side control many games.

Under the tutelage of experienced Benitez, the Spain midfielder is certain to improve as a player if he joins the Toffees.

# 3 The real Betis

According to Spanish media Mundo Deportivo, Real Betis are keen to re-sign Dani Ceballos and will launch an offer for their former player in the winter transfer window.

Ceballos has emerged as a promising young talent with Real Betis prompting Real to sign him in 2017. However, a move to Real did not go as planned for the midfielder but he could relaunch his career in going back to the club where it all started for him.

Andres Guardado and Victor Camarasa are among the few players whose contracts expire in the summer of 2022, and as the duo seem unlikely to renew their stay at Estadio Benito Villamarin, Betis will potentially have a considerable amount of money in their coffers to spend. next year.

With that in mind, the Andalusian squad are expected to re-sign Ceballos from Real Madrid in January as he has the tools to replace the aging Guardado in the middle of the park.

# 3 Liverpool

Liverpool lost Georginio Wijnaldum in a free transfer to Paris Saint-Germain earlier this summer and failed to replace him, weakening Jürgen Klopp’s options in the middle of the park.

With James Milner in the twilight of his career, Naby Keita and Alex Oxlade-Chamberlain prone to injury and Jordan Henderson’s recent fitness issues, the Reds may need a new midfielder in January. To that end, Dani Ceballos would be a perfect fit for Anfield.

Capable of playing in different positions in midfield, Ceballos could inject dynamism and energy into Liverpool’s engine room, and his previous Premier League experience with Arsenal should help him settle in quickly as well.

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Generic tax advice: ITAT cancels the fine of Rs 57 lakh on Preity Zinta https://kenttribune.com/generic-tax-advice-itat-cancels-the-fine-of-rs-57-lakh-on-preity-zinta/ https://kenttribune.com/generic-tax-advice-itat-cancels-the-fine-of-rs-57-lakh-on-preity-zinta/#respond Tue, 07 Sep 2021 22:30:00 +0000 https://kenttribune.com/generic-tax-advice-itat-cancels-the-fine-of-rs-57-lakh-on-preity-zinta/ MUMBAI: An omnibus (non-specific) notice served by the Income Tax (IT) department on actress and film producer Preity Zinta for “concealing income or providing inaccurate income information” has been reported invalidated by the Court of Appeal of the Income Tax Tribunal (ITAT).
The service of such a notice under section 271 (1) (c) is the first step in initiating a sanction proceeding. Therefore, the Mumbai court bench, made up of President PP Bhat and Accountant Member Shamim Yahya, estimated that the sentence of Rs 57 lakh would also be removed.
In making its order, ITAT relied on a full member decision of the Bombay High Court as well as other court decisions. Lately, due to the faceless assessment and faceless penalty regime, the issue of omnibus notices has surfaced again. Many tax experts point out that faceless penalty officers want taxpayers to provide all documents instead of just those relating to the dispute. The opinions are vague, they point out. Thus, this decision will also help the taxpayer community.
The crux of the dispute was a denial of bank interest of 1.7 crore rupees levied for the production of the film “Ishque in Paris”, a project which began in fiscal year 2011-12 and ended in 2013-14. Zinta claimed this interest as a trade deduction in fiscal year 2013-14. This was denied by the IT officer who said it was a previous year. The officer then initiated sanction proceedings for providing incorrect income information. Zinta disputed this action, stating that the expenses were not bogus, that there was no concealment of income, and that the details of the project were reported in the computer statement. She also filed a copy of the bank’s term loan letter.
The Commissioner (Appeals) issued an order in favor of the actress, but the IT department appealed to ITAT. However, the tax judiciary has disapproved of the practice of issuing omnibus penalty notices by IT authorities. “The notice in this case is also an omnibus show cause notice because it does not cross out or delete the inappropriate, irrelevant and non-applicable parts. Such a generic notice betrays a non-application of the spirit. Therefore, the penalty imposed under such a notice is not legally binding, ”says the order. Source link

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Disability loans | The bank rate https://kenttribune.com/disability-loans-the-bank-rate/ https://kenttribune.com/disability-loans-the-bank-rate/#respond Sat, 04 Sep 2021 00:28:31 +0000 https://kenttribune.com/disability-loans-the-bank-rate/

Disability loans can be useful tools to help bridge the financial gap between applying for government disability benefits and getting approval, which in some cases can take months. However, loans for people with disabilities come with some potential risks and these loans are not suitable for everyone.

If you are considering applying for a disability loan, you need to know what it is, who is eligible, and the factors that will make it beneficial or not for your financial situation.

What is a disability loan?

A disability loan is a personal loan that you can use for necessary daily expenses like groceries, bills, or mortgage payments if your disability has made you unable to work. These loans are used as a short-term funding tool for the few months it takes for the Social Security Administration (SSA) to process your application, and they should not be used to replace disability benefits.

Emergency advance payments

Before applying for a disability loan, find out if you qualify for an emergency prepayment. The SSA provides advanced disability benefits to qualified individuals based on the severity of their condition, type and likelihood of being approved for disability benefits. Also known as deemed disability or blindness payments, they are used to help fund the gap of up to six months between application and approval in emergency situations. Unlike loans for people with disabilities, they only have to be repaid in the event of an overpayment and have no interest rate.

You will need to prove that you are currently in an emergency to qualify, and payments will be refunded by subtracting the amount of the emergency advance you received from the amount you are expected to receive in the event of disability.

If you cannot qualify for emergency early placement, you may want to consider disability loans.

Who is eligible for a disability loan?

Because a disability loan is a personal loan, approval will be based on the lender and your financial history. The eligibility requirements vary from one lender to another. If you don’t meet the requirements, most lenders will give you the option to apply with a co-signer to increase the chances of approval. Your interest rate will also be determined by your credit history, so the better the score, the lower the interest rate.

Disability loans are not treated by SSA like disability benefits. Instead, loans for people with disabilities go through a private lender. Therefore, they should only be taken out as a last resort and if you have a repayment plan in place to pay off the balance. Keep in mind that it may not be the best idea to rely on disability benefits to pay off your loan, as the government may deny your application.

Before applying for a loan, make sure that you have already applied for disability through SSA, as loans are a short-term solution, not a long-term solution.

How does the government determine who is eligible for a disability?

After completing the online application, the SSA determines who is entitled to disability benefits using a process that takes 3 to 5 months and includes the following five questions:

  1. Do you work? If you are currently working in 2021 and your average monthly income is over $ 1,310, you probably will not be considered disabled.
  2. Is your condition considered “serious”? To be eligible, your condition must be severe enough to limit your ability to work and perform basic work-related physical tasks for at least 12 months.
  3. Is it in the list of disabling conditions? The SSA has a list of medical conditions that are considered eligible for disability benefits. If your condition is not listed, it is up to the SSA to decide whether the condition is considered serious enough to qualify.
  4. Can you still do the job you used to do? If you can still complete your work with your medical impairment (s), you are not considered eligible.
  5. Do you have the capacity to do any other type of work? If you are rendered unable to work, the SSA will take into account factors such as your age, health, education, and past work experience to determine if you have the capacity to work at another job. Otherwise, you may be eligible for benefits, but if there is other work that you could successfully complete, you may be refused.

How to apply for a disability loan

You can apply for a disability loan through an online lender, bank, or credit union. With an online lender, the application process is usually done entirely online and can be the fastest and easiest way to get the money you need. However, if you are a member of a credit union or have used a certain bank before, you might want to see if that financial institution offers fees or reduced rates to its customers.

Compare lenders before applying for a disability loan to find the best deal for your financial situation. Many online lenders now offer prequalification tools that let you see if you meet the eligibility requirements before applying to help you avoid a credit check on a loan you might not be on. eligible.

Pros and Cons of Disability Loans

While any type of emergency loan can be a useful way to quickly get the cash you need when you need it, there are always downsides to be aware of before applying.


  • Convenience: With some lenders, you could get approved in minutes and complete the entire application process from your home.
  • Options: There are a plethora of lenders, banks, or credit unions to choose from when it comes to finding a loan that’s right for you.
  • Quick relief: If you can’t work and wait for your application to be processed, disability loans fill this gap.

The inconvenients

  • Potentially high interest rates: Depending on your credit, you could end up with a high rate, which could lead to high interest rate debt down the road.
  • Payday risk: Many payday loans are for people with disabilities, but they usually come with astronomically high interest rates that can keep you in debt for years.
  • Short repayment terms: Depending on the lender, you may benefit from a shorter repayment period, which means you might have a larger monthly payment with a shorter repayment term than with other types of debt.

Alternatives to a disability loan

If you do not meet the eligibility requirements or do not wish to take out a long-term loan, you have alternatives to help you finance the processing time of your disability application:

  • Government assistance: This includes programs such as cash assistance, SNAP, social assistance and unemployment benefits. You can apply for government assistance and see if you qualify with the social service or social service agency in your state.
  • Workers compensation: If you suffer from an occupational injury or illness, you may be eligible for Workers’ Compensation. The process for filing a claim can differ from state to state, so research the process and follow all the necessary steps. In addition, depending on your state’s regulations, you may be entitled to additional disability benefits if your injury has made you unable to work.
  • Cash advances: A cash advance is a short-term loan that allows you to use your credit card to borrow the money you need. This can be done at an ATM or through a bank that offers cash advances. Cash advances are a form of credit card debt, and the money you borrow will need to be paid back.
  • Disability insurance: Disability insurance pays part of your income if you are disabled and unable to work. There are two forms: short and long term, which come with different coverage amounts and waiting periods. You may be able to purchase an employer sponsored plan or purchase an individual plan from an insurance broker or company.
  • Loans from families or friends: As a last resort, you can ask a trusted friend or family member to lend you money for your necessities. If you choose this method, keep in mind that it could lead to relationship breakdowns if you are not able to repay them as promised.

At the end of the line

After considering all of your options, if you decide that a disability loan is the way to go, make sure you have a solid plan in place and the money to pay off the loan. It’s also important to make sure you do your research to find the lender who offers you the best rates and terms for your financial needs.

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Olam secures $ 7 billion in loans as restructuring plan advances https://kenttribune.com/olam-secures-7-billion-in-loans-as-restructuring-plan-advances/ https://kenttribune.com/olam-secures-7-billion-in-loans-as-restructuring-plan-advances/#respond Wed, 01 Sep 2021 01:18:08 +0000 https://kenttribune.com/olam-secures-7-billion-in-loans-as-restructuring-plan-advances/

SINGAPORE (THE BUSINESS TIMES) – Food giant Olam International has secured $ 5.2 billion (S $ 7 billion) in loans in part to support its business reorganization plans, the listed company said on Tuesday evening. the motherboard on file at the Singapore Stock Exchange (August 31).

The three facilities include a three-year US $ 1.2 billion term loan and two 18-month bridge credit facilities of US $ 2 billion each.

The term credit facility will be used for general corporate purposes of the Olam group while the bridge credit facilities will be used to facilitate Olam reorganization plans.

Olam had announced that it plans to list Olam Food Ingredients (OFI) by the first half of next year as part of its ongoing business reorganization. OFI includes the company’s cocoa, coffee, edible nuts, spices and dairy businesses.

The terms of the three installation agreements include provisions that allow Olam to assign the facilities to the OFI, Olam Global Agri and Olam International operating groups upon the spin-off and registration of OFI.

Olam Group Chief Financial Officer N. Muthukumar said in a statement: “This landmark transaction gives us significant flexibility to allocate funding to our three new operating groups as part of our reorganization plan. We thank our banking partners for their commitment and unfailing support. “

The term loan and one of the bridge credit facilities have OFI entities as co-borrowers, while the second bridge loan has entities of Olam Global Agri and Olam International as co-borrowers. additional co-borrowers. All installations are guaranteed by Olam.

Citibank, JP Morgan Chase Bank, MUFG Bank and HSBC Bank participated as lead arrangers commissioned for the facilities. HSBC is the settlement agent.

Olam shares closed on Tuesday unchanged at $ 1.60.

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Harrison County Sewer Project Blocked by Federal Rules | New https://kenttribune.com/harrison-county-sewer-project-blocked-by-federal-rules-new/ https://kenttribune.com/harrison-county-sewer-project-blocked-by-federal-rules-new/#respond Sat, 28 Aug 2021 04:00:00 +0000 https://kenttribune.com/harrison-county-sewer-project-blocked-by-federal-rules-new/

CLARKSBURG, Va. (WV News) – A Harrison County wastewater treatment project suspended as sponsors secure new funding deals may already be underway if the county falls under a different section of the law federal government on the development of water resources.

In November 2018, after about 20 years of planning, the West Fork Onsite Community Co-operative secured funding for 75% of the cost of a septic tank effluent pump sewer system to serve more than 300 homes, three churches and the State Highway Division. the communities of Arlington, Glen Falls, Gore and Dawmont through the US Army Corps of Engineers.

In May 2019, the co-op secured the 25% match through debt relief and low-interest loans through the West Virginia Infrastructure and Jobs Development Council.

The project would cost $ 7.5 million.

The completed system would not only help clean up serviced communities and the West Fork River by preventing untreated effluent from flowing from homes into waterways, but it would also be cheaper for residents of serviced communities than it would be. connect to a centralized sewage system, according to West Fork Co-op board member Paul Hamrick.

Recently, however, co-op board members learned that the match should be provided in advance, rather than paid for as the work is completed. State funds, however, can only be paid when the work is completed and invoiced, according to Hamrick.

Therefore, the cooperative is now considering short-term private financing options that are expected to add $ 45,000 to $ 50,000 to the overall cost of the project, he said.

The reason is enshrined in federal law.

The Water Resources Development Act is a two-year bill originally passed by Congress in 1986 to fund water resources infrastructure projects.

Sections 340 of the bill, covering the southern counties of the 3rd Congressional District of West Virginia, and Section 571, covering the central counties of the 2nd Congressional District of West Virginia, were created in bills of Reauthorization Acts passed in 1992 and 1999, respectively, to authorize resources for environmental infrastructure in these parts of the state through the Army Corps of Engineers.

The chapters are specific to these districts as they were created at the request of the US representatives of each district at the time. For example, Senator Shelley Moore Capito, then House Representative for the 3rd Congressional District of West Virginia, served on the House Transportation and Infrastructure Committee and secured Section 571 of the Reauthorization Bill. .

West Virginia’s 1st Congressional District was not included until 2007, when it was one of some 300 regional sub-authorizations included in Section 219.

Although section 219 provides resources for environmental infrastructure, it is not structured the same way as other sections, such as sections 340 and 571.

According to James Shibata, chief of the project management section of the US Army Corps of Engineers, the majority of environmental infrastructure programs under the Water Resources Development Act allow project developers to retain services. from an engineering company to design and subcontract construction, with the Army Corps of Engineers providing oversight to ensure the project meets federal funding requirements.

Rather than paying the grant money up front to the sponsor, the sponsor pays the contractor and is then reimbursed by the Army Corps of Engineers up to 75% of the cost of the project.

Under Section 219, however, instead of the sponsor getting an engineering company, the Corps of Engineers is responsible for advertising for the engineering company or contractor and must pay the contractor to the advance.

“It appears that the intention of Congress, at the time of enactment, was not to create more work for USACE engineers, but to provide opportunities for local engineering companies and construction contractors. Therefore, USACE is not authorized to terminate projects. USACE must advertise the engineering company or construction contractor and is required by law to fully fund a contract at time of award. USACE only receives 75% of the funds, which are earmarked by Congress, and therefore needs the 25% funding from the sponsor to comply with the law and award the contract, ”said Shibata.

Now, West Fork Co-op members are looking for 25% match funding options.

According to Hamrick, Harrison County officials informed him that the county did not have the $ 793,000 in its coffers to offer an initial loan on the first phase of the project, to be repaid with state funds as the project progresses. and as the project progresses. A county official also indicated that American Rescue Plan Act funds cannot be used as a match for other federal funds.

A spokesperson for Sen. Joe Manchin, DW.Va., did not address the Wastewater Development Resource Act, but said the senator supports the West Fork Co-op project.

“Senator Manchin has worked with the West Fork Co-op on this project over the past year and is a proud supporter of their efforts to bring safe, clean water to more West Virginia people. Earlier this year, with the support of Senator Manchin, the West Fork Co-op was granted a waiver to serve as a non-federal sponsor for the project. Senator Manchin also drafted the provision of the US bailout that allowed all state and local fiscal adjustment funds, including $ 1.3 billion for the state of West Virginia and $ 13.4 million for Harrison County, to be eligible for water and sanitation infrastructure projects. His office continues to work with local, state and federal stakeholders to move this project forward, ”the spokesperson said.

A Capito spokesperson RW.Va. said the senator has worked to secure funding for infrastructure in the state through the three applicable sections of the Water Resources Development Act.

“As a leading member of the [Environment and Public Works] Committee, Senator Capito will continue to prioritize environmental infrastructure resources for our state in the next WRDA bill to be submitted to the Senate next year, ”the spokesperson wrote.

Meanwhile, West Fork Co-op board members reached out to two private banks with the goal of securing a short-term loan to pay the initial cost. First, however, the co-op will need to apply for additional funds from the West Virginia Infrastructure and Jobs Development Council to cover the additional financing costs associated with any loan the co-op may receive, Hamrick said.

That board then meets on September 1, but the co-op members couldn’t meet the deadline to get on the agenda, according to Hamrick.

This has been a frustrating setback for the members of the co-ops.

“We’re upset in some ways because we still don’t understand why Section 219 requires this due diligence that wouldn’t be necessary if we were in Jane Lew or in Logan County,” Hamrick said.

It was also frustrating for residents of the four communities that would be served, some of whom repaired individual septic systems with temporary dressings pending a solution to their community’s sewer problems, he said.

Editor-in-Chief JoAnn Snoderly can be reached at 304-626-1445, by email at jsnoderly@theet.com or on Twitter at @JoAnnSnoderly.

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Long Beach apartment building secures $ 25 million loan https://kenttribune.com/long-beach-apartment-building-secures-25-million-loan/ https://kenttribune.com/long-beach-apartment-building-secures-25-million-loan/#respond Wed, 25 Aug 2021 00:58:03 +0000 https://kenttribune.com/long-beach-apartment-building-secures-25-million-loan/

Patio Gardens in Long Beach

A multi-family property in Long Beach received a refinancing of $ 24.6 million.

The property, known as the Patio Gardens, is located at 4874 E. Los Coyotes Diagonal and has 127 units. The name of the borrower was not disclosed.

Aaron Beck of NorthMarq arranged the funding with Fannie Mae and NorthMarq’s DUS platform.

It is a long-term, non-recourse, low-interest loan, according to NorthMarq.

“The loan provided a return on equity to the borrower at a very attractive fixed rate,” Beck said in a statement. “The long-term non-recourse loan has also allowed the borrower to stagger loan maturities within their portfolio.”

It’s not the only big construction loan to be announced this year.

Chicago-based Singerman Real Estate and San Diego-based Darnell Capital recently received $ 23 million in funding to build a project on the Palos Verdes Peninsula, known as Peninsula Pointe.

The project, a redevelopment of a vacant office building, will have 87 assisted living and memory care units. The facility will be managed by Cadence Living, based in Phoenix.

Also this year, Columbia Pacific Advisors provided a $ 27 million bridge loan for the completion of construction to recapitalize the Hyatt Hotel Nue in Hollywood.

S3D Partners owns the hotel at 1525 N. Cahuenga Blvd.

And earlier this month, Brentwood-based Hudson Pacific Properties Inc. and New York-based Blackstone Group Inc. received a $ 1.1 billion loan for their Hollywood portfolio.

The money was provided by Bank of America Corp., Barclays, Wells Fargo Bank and Societe Generale.

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