Loan principal amount – Sendika12 http://sendika12.org/ Thu, 25 Nov 2021 02:23:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sendika12.org/wp-content/uploads/2021/10/profile-120x120.png Loan principal amount – Sendika12 http://sendika12.org/ 32 32 Litigation lender contracts leave some lawyers indebted for double the amount borrowed https://sendika12.org/litigation-lender-contracts-leave-some-lawyers-indebted-for-double-the-amount-borrowed/ Thu, 18 Nov 2021 17:04:46 +0000 https://sendika12.org/litigation-lender-contracts-leave-some-lawyers-indebted-for-double-the-amount-borrowed/ Home Daily News The contracts of litigation funders leave a few … Practice finance Litigation lender contracts leave some lawyers indebted for double the amount borrowed By Debra Cassens Weiss November 18, 2021, 11:00 a.m. CST Image from Shutterstock. Lawyers who have received litigation funding from Pravati Capital are sometimes caught off guard by contractual […]]]>

Practice finance

Litigation lender contracts leave some lawyers indebted for double the amount borrowed

Image from Shutterstock.

Lawyers who have received litigation funding from Pravati Capital are sometimes caught off guard by contractual arrangements that require them to owe more than double the amount they borrowed.

Pravati Capital has brought at least 14 lawyer-borrowers into arbitration. At least seven of them were ordered to repay more than double the amount they had borrowed no more than two years ago, reports Bloomberg Law.

Bloomberg Law spoke with an attorney, Brownsville, Texas, 81, attorney Christopher Phillippe, who borrowed $ 55,000 from Pravati Capital in March 2018. An arbitrator ruled he owed more than $ 130,000 just 21 months after receiving the money, even though Phillippe only made $ 3,000 in the one case he won that was in the contract.

Litigation funders usually give money to lawyers who prepare a lawsuit and only demand reimbursement if the case wins.

“Pravati contracts regularly extend the industry’s win-win concept by asserting a claim in any matter that passes through the door of a law firm and ensuring that it will be paid even if a major lawsuit goes through. is lost, ”the article reports.

Pravati Capital said its contracts are not difficult to understand. He points out that the arbitrators ruled in his favor in all but one case.

“No one here has been misled,” Pravati said. “People who complain to Bloomberg [Law] signed a contract, accepted advances and chose not to honor their end of the bargain.

Pravati Capital typically charges interest rates of around 18% to 22% per year. In Phillippe’s case, the interest was set at 20%. But in his case, the Pravati award, including interest and fees, “was the equivalent of a deal that was earning about 78% interest a year,” Bloomberg Law said.

“The technical reason that lenders can charge such high interest,” Bloomberg Law explained, “is that their transactions are structured as“ non-recourse ”investments, which means they don’t have the right to perceive only the specific case gains in the agreement. If a court were to find that an agreement gave a funder a right to income from more than those cases, or whatever their outcome, this could be considered like a “recourse” loan, which has limits on interest rates. ”

Bloomberg Law has pointed out these contractual provisions that trip some lawyers:

• Pravati agreements often tie the loan to clusters of cases, and any gain can trigger repayment obligations. “Investing in what the industry calls a law firm’s business ‘portfolio’ reduces the risk for the funder because they are more likely to raise funds,” the article reports. “In this approach, the more cases there are in the portfolio, the lower the risk. “

• Many Pravati contracts list specific cases that are subject to agreement, and they also provide that the law firm will provide “all cases as collateral”, including any fees that the firm “is or may subsequently receive. place “.

“In Phillippe’s case,” Bloomberg Law reports, “he said he believed he agreed to reimburse Pravati from the fees generated by the 12 cases listed in his contract. He was surprised when the lender said he violated the deal by failing to pay Pravati “a single penny” of income in other cases not specifically listed in the deal.

Disputes over cases seen as collateral is an issue in several Pravati disputes, Bloomberg Law said.

• Pravati contracts often include an “interest reserve,” which is used to prevent interest payments from accumulating for two years as business progresses. But interest is then calculated from a principal amount that includes both the amount loaned to the business and the amount of the interest reserve it has funded.

“A Bloomberg Law analysis of the provision in several Pravati agreements shows that the interest reserve provision is the main reason that agreements can become so expensive so quickly,” the article reports.

• Pravati contracts require companies to provide regular financial and case reports. If the reports are not provided, Pravati may consider the borrower to be in default and charge an additional 6% annual interest. A default can also convert the case into a recourse loan that requires repayment, even when there is no gain in any of the cases listed, according to the allegations of a former employee who spoke to Bloomberg Law.

Alexander Chucri, CEO of Pravati, said Phillippe valued his business at $ 4 million before receiving the company money, and he threatened to file for bankruptcy when he fell behind on payments.

Chucri said lawyers chose the interest reserve provision after the company explained the benefit of avoiding capitalization. There is “nothing bad” about this provision, Pravati said.

Chucri said lawyers “tend to withdraw” from collection attempts.

“We have no advantage in bringing these guys into officiating. It’s a challenge for us, ”Chucri told Bloomberg Law. “But that’s how we cover our costs as they try to defraud us. … I can’t let go.


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Nepal spent more on servicing domestic debt than larger foreign loans https://sendika12.org/nepal-spent-more-on-servicing-domestic-debt-than-larger-foreign-loans/ Sun, 14 Nov 2021 01:15:06 +0000 https://sendika12.org/nepal-spent-more-on-servicing-domestic-debt-than-larger-foreign-loans/ Although Nepal’s stock of domestic debt is lower than external loans, the government spent more money to repay domestic debt than external debt in the last fiscal year 2020-21. This raised the question of whether the government should prioritize external borrowing over domestic debt. According to the Public Debt Annual Report 2020-21 recently released by […]]]>

Although Nepal’s stock of domestic debt is lower than external loans, the government spent more money to repay domestic debt than external debt in the last fiscal year 2020-21. This raised the question of whether the government should prioritize external borrowing over domestic debt.

According to the Public Debt Annual Report 2020-21 recently released by the Public Debt Management Bureau, Nepal’s domestic debt stands at Rs 802.94 billion while the external debt stands at Rs 934.14. billion rupees. The country’s total debt stock stands at Rs 1,737.08 billion.

But, in terms of annual debt repayment, for internal loans, the government repaid the principal of 36.9 billion rupees and the interest payment of 28.46 billion rupees in the last fiscal year. And on the external lending front, the amount of principal repayment stood at 23.26 billion rupees and the interest payment was 6.17 billion rupees in the last fiscal year, according to the report.

This means that the amount of principal paid to domestic creditors was 58.59% higher than the amount paid to external creditors. Likewise, the amount of interest paid to domestic creditors was 361% higher than the amount paid to external creditors.

“This suggests that internal loans are more expensive than external loans,” the report says. But, in recent years, the government has consistently borrowed more from domestic and foreign lenders.

But, officials and experts say that despite domestic debt which seems more expensive than external debt, Nepal should maintain a balance between domestic and foreign lending.

“On paper, it seems that domestic debt is more expensive than external debt. This is because the majority of the loans Nepal has taken from foreign lenders are concessional, ”said Hira Neupane, information officer at the Bureau of Public Debt Management. “But, it remains to be seen whether the domestic debt is too expensive compared to the external debt. For this, we need to analyze the impact of the depreciation of the Nepalese currency against the US dollar.

He said that the repayment period of foreign loans is generally longer and that their overall cost could be expensive because they are linked to the exchange rate, which is unstable.

While the interest rates on foreign loans borrowed from major creditors like the World Bank and the Asian Development Bank are less than one percent per year, the interest rates on domestic loans are higher and fluctuate constantly according to the liquidity situation in the banking sector.

Nara Bahadur Thapa, former executive director of Nepal Rastra Bank, said the two main risks associated with foreign loans are their interest rate and the exchange rate, but in the case of Nepal, the interest rate risk is minimal as Nepal has so far taken only ready-made concessions.

“There are advantages to borrowing from abroad as there will be more financial resources available in the domestic banking system,” he said. “If the government borrows more from national banks, it will create a squeeze of funds and push up loan interest rates.”

Currently, the Nepalese banking sector is facing a shortage of loanable funds due to excessive lending by banks and financial institutions during the first quarter of the current fiscal year as well as the inability of the government to spend the budget. So the interest rates went up.

Until Friday, the government had spent only 17.11% of the annual budget while capital spending stood at 4.65% of target, according to the Office of the Comptroller General of Finance, the agency. responsible for keeping records of government revenues and expenditures.

The main local government creditors are Nepalese banks and financial institutions, which buy government treasury bills and development bonds. The government mobilizes internal borrowing by issuing various instruments, including treasury bills and development bonds. A few of these vouchers include Citizen’s Savings Bonds, National Savings Bonds, and Overseas Employment Savings Bonds.

As the Covid-19 pandemic has severely affected the Nepalese economy, experts have suggested that the government minimize domestic borrowing.

Taking this suggestion into account, the new government reduced the domestic debt target from 11 billion rupees to 239 billion rupees in the revised budget presented in September through the replacement bill.

But, over the past five years, domestic debt has grown faster than external debt. In fiscal year 2016-17, the stock of domestic and external debt stood at Rs 283.71 billion and Rs 413.97 billion, respectively. The amount of domestic debt almost tripled (2.83 times) while external debt more than doubled during the period.

But, Thapa, a former central bank official, said the current composition of domestic and foreign debt has remained broadly balanced. “There is still no such risk of prioritizing external loans as long as we only take concession loans and use them in profitable projects,” he said.


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Sec 40 RERA – Homebuyers have the right to get back the amount invested with interest as arrears of land income from the builder: Supreme Court https://sendika12.org/sec-40-rera-homebuyers-have-the-right-to-get-back-the-amount-invested-with-interest-as-arrears-of-land-income-from-the-builder-supreme-court/ Sat, 13 Nov 2021 12:54:49 +0000 https://sendika12.org/sec-40-rera-homebuyers-have-the-right-to-get-back-the-amount-invested-with-interest-as-arrears-of-land-income-from-the-builder-supreme-court/ The Supreme Court, in its judgment rendered Thursday, November 11, had, among others, considered that the amount invested by beneficiaries, which is often their savings, as well as the related interest as quantified by the regulatory authority or the contracting officer can be recovered by them as arrears property income from builders, under Section 40 […]]]>

The Supreme Court, in its judgment rendered Thursday, November 11, had, among others, considered that the amount invested by beneficiaries, which is often their savings, as well as the related interest as quantified by the regulatory authority or the contracting officer can be recovered by them as arrears property income from builders, under Section 40 (1) of the Real Estate (Regulation and Development) Act 2016 (“Act”).

“While harmonizing the interpretation of the regime of the Law with the right of recovery as mandated in Article 40 (1) of the Law, bearing in mind the intention of the legislator to provide for a rapid recovery of the amount invested by the beneficiary as well as However, if Article 40 (1) is interpreted strictly and it means that only penalties and interest on the principal amount are recoverable as arrears of land income, this would go to contrary to the fundamental objective of the Law “, the court ruled.

A bench including Judges Uday Umesh Lalit, Ajay Rastogi and Aniruddha Bose recognized that a significant portion of beneficiaries invest hard-earned money, often their savings, and even opt for loans just to be able to to get a roof in the form of their apartments / apartments / units. Refuting the proponent’s contention that under Section 40 (1) homebuyers are only entitled to collect interest or penalties as arrears of land income, the Court held ruled that recipients were entitled to recover all of the life savings they had invested with the related interest. The Court observed that under Article 18 which deals with the power of the authority to order repayment of the principal, there would be no interest until the principal had been determined by the ‘competent authority. Thus, reading the statute as a whole, the Court determined that the principle and interest are treated as a composite amount to be collected as arrears of land income under section 40 (1) of the Act.

The judgment was handed down by the Supreme Court in a batch of civil appeals filed against the dismissal of the petitions by the Allahabad High Court. The written petitions were filed by the developers / property developers (appellant) challenging the order made by the sole member of the regulator on homebuyer complaints, directing the developers to repay the principal amount as well as the interest. .

The developers had argued that under section 40 (1) of the law, only interest or penalty imposed by the authority can be collected as arrears of land revenue and no certificate of collection for the amount. principal cannot be issued.

Considering the argument, the Court observed that under a strict interpretation of Article 40 (1), if it is read that only penalties and interest on the principal amount are recoverable, then the same would be a derogation from the essence of the law. Examining section 18, section 40 (1) and the scheme of the law, the Court held that although there appears to be an ambiguity in section 40 (1) of the law, reading the provision relevant in a harmonized manner, keeping in mind the intention of the legislator, the recovery of the amount invested as well as the interest quantified by the authority or the contracting officer is the best way forward. The Court ruled that:

Taking into account the regime of the law, what must be returned to the beneficiary is his own savings, the interest calculated / quantified by the authority becomes recoverable and this arrears becomes enforceable in law. There appears some ambiguity in section 40 (1) of the law which, in our opinion, by harmonizing the provision with the object of the law, gives effect to the provisions is allowed to operate rather than the execution of the one or the other redundant, noting the meaning of the legislature and the principle stated above in consideration, we clearly indicate that the amount which has been determined and reimbursable to the beneficiaries / buyers either by the authority or the contracting officer in terms of order is recoverable under section 40 (1) of the Act. “

[Case Title: Newtech Promoters and Developers Pvt. Ltd. v. State of UP And Ors., LL 2021 SC 641]

The RERA authority may delegate a single member to rule on the homebuyers’ complaint under Article 31: Supreme Court

Case name and citation: Newtech Promoters And Developers Pvt. Ltd v State of the UP | LL 2021 SC 641

Case n ° and Date: CA 6745 6749 DE 2021 | November 11, 2021

Coram: Judges Uday Umesh Lalit, Ajay Rastogi and Aniruddha Bose

Counsel: Sr. Adv Kapil Sibal, Sr. Adv Gopal Sankarnarayanan for appellants, Sr. Adv Madhavi Divan, Sr. Adv for respondents, SG Tushar Mehta for UoI

Click here to read / download the judgment


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MDC Holdings Announces Increase in Maximum Bid Amount and First Results of Cash Tender Offer https://sendika12.org/mdc-holdings-announces-increase-in-maximum-bid-amount-and-first-results-of-cash-tender-offer/ https://sendika12.org/mdc-holdings-announces-increase-in-maximum-bid-amount-and-first-results-of-cash-tender-offer/#respond Thu, 16 Sep 2021 07:00:00 +0000 https://sendika12.org/mdc-holdings-announces-increase-in-maximum-bid-amount-and-first-results-of-cash-tender-offer/ DENVER, Sept. 16, 2021 / PRNewswire / – MDC Holdings, Inc. (NYSE: MDC) (“MDC” or the “Company”) today announced an increase in the previously announced maximum tender amount of $ 100,000,000 To $ 123,632,000 (the “maximum bid amount”) and the results of the anticipated bid as of 5:00 p.m., New York City It’s time September […]]]>

DENVER, Sept. 16, 2021 / PRNewswire / – MDC Holdings, Inc. (NYSE: MDC) (“MDC” or the “Company”) today announced an increase in the previously announced maximum tender amount of $ 100,000,000 To $ 123,632,000 (the “maximum bid amount”) and the results of the anticipated bid as of 5:00 p.m., New York City It’s time September 16, 2021 (the “early deposit time”) of its previously announced cash tender offer (the “tender offer”) to purchase up to the maximum offer amount of its senior bonds at 5,500% outstanding due 2024 (the “Bonds”).

Based on the information provided by Global Bondholder Services, Inc., the agent responsible for the takeover bid, $ 123,632,000 the full principal amount of the Notes has been deposited (not withdrawn) before the Early Deposit Time. The following table shows the total principal amount of the Notes which were tendered (and not withdrawn) at the Early Offer Time and the principal amounts which, subject to the satisfaction of the conditions of the Public Offer to Purchases described below, should be accepted for purchase under the Tender Offer:

Notes title

CUSIP number

Total amount of capital remaining due before the public tender offer

Total consideration 1

Total principal amount of banknotes deposited

Principal amount of tickets to be accepted for purchase

Pro rata
Factor

5.500% Senior
Notes due 2024

552676AR9

$

250,000,000


$

1,093.75


$

123,632,000


$

123,632,000


100.00

%
























1 Includes early submission bonus (as defined below).

The tender offer is made in accordance with the tender offer, dated September 2, 2021 (the “Offer to Purchase”). Notes which have been validly deposited and not validly withdrawn on or before the Early Deposit Time and which are accepted in the tender offer will be purchased, withdrawn and canceled by the Company on the Early Settlement Date, which should intervene on September 17, 2021.

Holders of Notes validly deposited (and not validly withdrawn) prior to the Early Deposit Time and accepted for purchase will receive the total consideration shown in the table above, which includes an Early Deposit Premium of $ 30.00 through $ 1,000 principal amount of Notes accepted for purchase (the “Early Deposit Bonus”). In addition to the full consideration, all holders of Notes validly deposited (and not validly withdrawn) before the early deposit time and accepted for purchase will receive accrued and unpaid interest from and including the last payment date. interest up to, but not including, the Settlement Date. The deadline for holders to validly withdraw from offers of Notes has passed. Consequently, the Contributed Notes can no longer be withdrawn or revoked, except in certain limited circumstances where additional withdrawal or revocation rights are required by law.

Given that the holders of Notes submitted to the Takeover Bid have validly deposited and have not validly withdrawn Notes no later than the Early Deposit Time for an amount equal to the Maximum Deposit Amount, all Securities validly deposited (and not validly withdrawn) no later than The invitation to tender should be accepted. Therefore, although the Takeover Offer is scheduled to expire at 11:59 p.m., New York City It’s time September 30, 2021, the Company does not expect to accept for purchase any offers of Notes after the early deposit time.

The Tender Offer is subject to satisfaction of the conditions described in the Tender Offer. These conditions may be waived by the Company at its sole discretion, subject to applicable law. Any waiver of any condition by the Company will not constitute a waiver of any other condition.

The broker-manager of the take-over bid is Citigroup Global Markets Inc. Any questions regarding the terms of the take-over bid should be directed to the broker-manager, Citigroup Global Markets Inc. at (toll free) (800) 558-3745 or (collect). ) (212) 723-6106. The information agent and tendering agent is Global Bondholder Services, Inc. Any questions regarding the procedures for tender of Notes or requests for copies of the Offer to Purchase or other documents relating to the Offer to Purchase should be directed to the Offer to Purchase Information Agent, Global Bondholder Services, Inc. at (866) 470-4300 (toll free) or (212) 430-3774 .

This press release does not constitute an offer to sell, a solicitation to buy or an offer to buy or sell any securities. The tender offer is made only in connection with the tender offer and only in jurisdictions permitted by applicable law.

About MDC

MDC Holdings, Inc. was founded in 1972. MDC’s homebuilding subsidiaries, which operate as Richmond American Homes, have built and financed the American Dream for more than 220,000 buyers since 1977. Commitment from MDC towards customer satisfaction, quality and value is reflected in every home that its subsidiaries build. MDC is one of the largest home builders in United States. Its subsidiaries have home construction operations across the country, including the Denver metro areas, Colorado Sources, Salt lake city, Las Vegas, Phoenix, Tucson, RiversideSaint-Bernardin, Los Angeles, San Diego, Orange County, San Francisco Bay Area, Sacramento, Washington DC, Baltimore, Orlando, Jacksonville, Seattle, Portland, Wooded and Nashville. MDC’s subsidiaries also provide mortgage finance, insurance and title services, primarily to U.S. buyers in Richmond, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. , respectively. MDC Holdings, Inc. is listed on the New York Stock Exchange under the symbol “MDC”. For more information visit www.mdcholdings.com.

Certain statements contained in this press release and the offer to purchase may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors. that may cause MDC’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by forward-looking statements. These factors include, among others, (1) general economic conditions, including the impact of the COVID-19 pandemic, changes in consumer confidence, inflation or deflation and employment levels; (2) changes in business conditions encountered by MDC, including restrictions on business activities resulting from the COVID-19 pandemic, cancellation rates, net home orders, gross home margins, value land and housing and the number of subdivisions; (3) changes in interest rates, mortgage programs and credit availability; (4) changes in the market value of MDC’s investments in marketable securities; (5) the uncertainty in the mortgage industry, including the redemption requirements associated with the sale of mortgages by HomeAmerican Mortgage Corporation (6) the relative stability of the debt and equity markets; (7) competition; (8) the availability and cost of land and other raw materials used by MDC in its home construction operations; (9) the availability and cost of performance guarantees and insurance covering the risks associated with our business; (10) labor shortages and cost; (11) slowdowns related to weather conditions and natural disasters; (12) slow growth initiatives; (13) the construction of moratoria; (14) government regulations, including ordinances relating to the COVID-19 pandemic, interpretation of tax, labor and environmental laws; (15) terrorist acts and other acts of war; (16) the evolution of energy prices; and (17) other factors over which MDC has little or no control. Additional information on the risks and uncertainties applicable to MDC’s business is contained in MDC Form 10-Q for the quarter ended. June 30th, 2021. All forward-looking statements contained in this press release are made as of the date hereof, and the risk that actual results will differ materially from the expectations expressed in this press release will increase over time. MDC assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. However, any other disclosures made on related matters in our subsequent filings, releases or webcasts should be consulted.

SOURCE MDC Holdings, Inc.

Related links

http://www.mdcholdings.com


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Stevia Corp. settles the principal amount of $ 1,250,000 of a senior toxic convertible debenture with an institutional investor for restricted shares https://sendika12.org/stevia-corp-settles-the-principal-amount-of-1250000-of-a-senior-toxic-convertible-debenture-with-an-institutional-investor-for-restricted-shares/ Tue, 17 Aug 2021 07:00:00 +0000 https://sendika12.org/stevia-corp-settles-the-principal-amount-of-1250000-of-a-senior-toxic-convertible-debenture-with-an-institutional-investor-for-restricted-shares/ NEW YORK, NY / ACCESSWIRE / Aug 17, 2021 /Stevia Corp. (OTC PINK: STEV) (‘Stevia Corp’ or the ‘Company’), a farm management and healthcare company focused on the commercial development of products that support healthy lifestyles, announced today that it settled the principal amount of $ 1,250,000 from a toxic senior convertible debenture for 37,500,000 […]]]>

NEW YORK, NY / ACCESSWIRE / Aug 17, 2021 /Stevia Corp. (OTC PINK: STEV) (‘Stevia Corp’ or the ‘Company’), a farm management and healthcare company focused on the commercial development of products that support healthy lifestyles, announced today that it settled the principal amount of $ 1,250,000 from a toxic senior convertible debenture for 37,500,000 restricted shares. The company estimated that the principal amount, unpaid interest and late fees that were owed to the institutional investor exceeded $ 3,000,000. The settlement document does not contain any adjustments or typical adjustment conditions, and the settlement is firm pursuant to the issuance of 37,500,000 restricted shares.

The company also announced that it has settled a debenture in the principal amount of $ 150,000 for 2,500,000 restricted shares. The settlement document does not contain any adjustments or typical adjustment conditions, and the settlement is firm pursuant to the issuance of 2,500,000 restricted shares.

The company also announced that it had settled a promissory note in the principal amount of $ 100,000 for 1,500,000 restricted shares. The settlement document does not contain any adjustments or typical adjustment conditions, and the settlement is firm pursuant to the issuance of 1,500,000 restricted shares.

Stevia Corp. has two other debt documents that were entered into by the company over 6 years ago. A convertible promissory note, dated March 15, 2013, had a principal amount of $ 220,436.36. The note was convertible into common stock at 25 cents per share. The company attempted to reach the institutional note holder who does not appear to be in business. Accordingly, and due to the time elapsed between today’s date and maturity of the convertible promissory note, the Company will seek legal advice which, if issued, will allow it to write off the entire note and the unpaid interest. of the leaf balance. The company believes the legal opinion will be issued.

Finally, the company was a signatory of a convertible debenture dated February 7, 2014 with a capital amount of $ 80,000. The debenture was convertible into common stock at prices significantly higher than the current share price of Stevia Corp. at the closing price on August 16, 2021. Due to the time elapsed between the current date and the maturity date of the convertible debenture, the company will seek legal advice which, if issued, will allow it to cancel the convertible debenture. entire balance sheet note due to the expiration of the limitation period. As a result of conversations the Company has had with counsel for the debenture holder, the debenture holder appears to dispute that the limitation period expired on the $ 80,000 debenture.

Kenneth Maciora, president and chairman of Stevia Corp, said, “I would like to personally thank the institutional investor for working with our company to settle the debt. I think they saw our vision. I also want to thank the other 2 debt holders for being cooperative so that the business can move forward with virtually debt free to execute the business plan. We are confident that we will be able to receive legal advice to write off the convertible promissory note in the initial principal amount of $ 220,436.36. “

Maciora added, “This is a great day in Stevia Corp. history as the company remains super focused on increasing shareholder value.

Maciora concluded: “The elimination of toxic debt was an integral part of our original plan. As a financial services industry veteran with decades of experience, I know the burden that debt that converts to equity at variable prices can have on a small public business. We are delighted to be able to announce this news to shareholders !! “

About Stevia Corp.

Stevia Corp. is an agricultural management and healthcare company focused on the development of highly nutritional and high-value products through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. Stevia Corp was founded on the principle of implementing socially responsible, sustainable and quality agro-industrial solutions to maximize the long-term efficient production of nutritional crops.

Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. . The statements contained in this press release, which are not purely historical, are forward-looking statements and include statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in forward-looking statements due to many factors. These factors include, among others, the inherent uncertainties associated with new projects and companies in the development phase. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. While we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct.

Contact:

Kenneth maciora
President
Stevia Corp.
(917) 670-9541
stéviapresident@gmail.com

THE SOURCE: Stevia Corp.

See the source version on accesswire.com:
https://www.accesswire.com/660080/Stevia-Corp-Settles-1250000-Principal-Amount-of-a-Toxic-Senior-Convertible-Debenture-with-Institutional-Investor-for-Restricted-Stock


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OneMain Holdings, Inc.Announces Pricing of $ 600 Million Aggregate Principal Amount of Senior Bonds Due 2028 https://sendika12.org/onemain-holdings-inc-announces-pricing-of-600-million-aggregate-principal-amount-of-senior-bonds-due-2028-2/ https://sendika12.org/onemain-holdings-inc-announces-pricing-of-600-million-aggregate-principal-amount-of-senior-bonds-due-2028-2/#respond Wed, 04 Aug 2021 07:00:00 +0000 https://sendika12.org/onemain-holdings-inc-announces-pricing-of-600-million-aggregate-principal-amount-of-senior-bonds-due-2028-2/ NEW YORK, August 04, 2021– (BUSINESS WIRE) – OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) today announced that its direct wholly owned subsidiary OneMain Finance Corporation (“OMFC”) has set $ 600 million the total principal amount of its 3.875% Senior Notes due 2028 (the “2028 Notes”) under its previously announced 2028 Registered Notes offering. The size […]]]>

NEW YORK, August 04, 2021– (BUSINESS WIRE) – OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) today announced that its direct wholly owned subsidiary OneMain Finance Corporation (“OMFC”) has set $ 600 million the total principal amount of its 3.875% Senior Notes due 2028 (the “2028 Notes”) under its previously announced 2028 Registered Notes offering. The size of the 2028 ticket offering has been increased from $ 500 million to $ 600 million.

The 2028 Notes will be guaranteed without guarantee by OMH (the “Guarantee”). The closing of the offer is expected to take place on August 11, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds of this offering for general corporate purposes, which may include debt repurchases and repayments.

The 2028 Notes are being offered only by way of a prospectus supplement and an accompanying base prospectus. OMH and OMFC have filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the United States Securities and Exchange Commission (“SEC”) for the offer to which relates to this communication and will file a final prospectus supplement relating to the offering. Prospective investors should read the Prospectus Supplement and Base Prospectus in this registration statement and other documents that the OMH and OMFC have filed or will file with the SEC for more complete information about the OMH. and OMFC and the offer. You can obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the Final Prospectus Supplement and the accompanying base prospectus for the offering, when available, can be obtained by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, Phone: 1- 866-471-2526, Fax: 1-212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com or SG Americas Securities LLC, ATTN: Bond Syndicate, 245 Park Avenue, New York, NY 10167, phone: 1-855-881-2108, or email: us-glfi-syn-cap@sgcib.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration. or the qualification under securities laws of such jurisdiction. The securities offered have not been approved or disapproved by any regulatory authority, and neither regulatory authority has passed judgment on the accuracy or sufficiency of the prospectus supplement or the shelf registration statement or the prospectus.

About OneMain Holdings, Inc.

OneMain Holdings, Inc. (NYSE: OMF) has been providing responsible and transparent lending for over 100 years. With approximately 1,400 locations in 44 states, the company is committed to helping people with their personal loan needs. OneMain and the members of its team are dedicated to the communities where they live and work.

Caution Regarding Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the intention of OMH and OMFC to carry out the offer and issue the 2028 the notes and the collateral, the expected closing date and the intended use by SOMFO of the net proceeds of the offering. Completion of the offer is subject to market conditions and other factors beyond our control. Accordingly, no assurance can be given that the offer will be made on the terms contemplated or at all and you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the important risks and factors that could affect these forward-looking statements, see the sections entitled “Risk Factors” in the prospectus supplement relating to the Offering, in the Combined Annual Report of OMH and the ‘OMFC on form 10-K for the fiscal year ended December 31, 2020, in subsequent combined quarterly reports of OMH and OMFC on form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, respectively, and in other documents filed by OMH and OMFC with the SEC. Neither the OMH nor the OMFC undertake to publicly disclose any revisions to forward-looking statements they have made to reflect events or circumstances occurring after the date hereof or the occurrence of unforeseen events.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210804006126/en/

Contacts

OneMain Holdings, Inc.
David R. Schulz, 212-359-2426


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OneMain Holdings, Inc.Announces Pricing of $ 600 Million Aggregate Principal Amount of Senior Bonds Due 2028 https://sendika12.org/onemain-holdings-inc-announces-pricing-of-600-million-aggregate-principal-amount-of-senior-bonds-due-2028/ https://sendika12.org/onemain-holdings-inc-announces-pricing-of-600-million-aggregate-principal-amount-of-senior-bonds-due-2028/#respond Wed, 04 Aug 2021 07:00:00 +0000 https://sendika12.org/onemain-holdings-inc-announces-pricing-of-600-million-aggregate-principal-amount-of-senior-bonds-due-2028/ NEW YORK–(COMMERCIAL THREAD) – OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) today announced that its direct wholly owned subsidiary OneMain Finance Corporation (“OMFC”) has set the total principal amount at $ 600 million its 3.875% senior bonds due 2028 (the “2028 Notes”) under its previously announced registered 2028 Note offering. The size of the 2028 ticket […]]]>

NEW YORK–(COMMERCIAL THREAD) – OneMain Holdings, Inc. (NYSE: OMF) (“OMH”) today announced that its direct wholly owned subsidiary OneMain Finance Corporation (“OMFC”) has set the total principal amount at $ 600 million its 3.875% senior bonds due 2028 (the “2028 Notes”) under its previously announced registered 2028 Note offering. The size of the 2028 ticket offering has been increased from $ 500 million to $ 600 million.

The 2028 Notes will be guaranteed without guarantee by OMH (the “Guarantee”). The closing of the offer is expected to take place on August 11, 2021, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds of this offering for general corporate purposes, which may include debt repurchases and repayments.

The 2028 Notes are being offered only by way of a prospectus supplement and an accompanying base prospectus. OMH and OMFC have filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the United States Securities and Exchange Commission (“SEC”) for the offer to which relates to this communication and will file a final prospectus supplement relating to the offering. Prospective investors should read the Prospectus Supplement and Base Prospectus in this registration statement and other documents that the OMH and OMFC have filed or will file with the SEC for more complete information about the OMH. and OMFC and the offer. You can obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the Final Prospectus Supplement and the accompanying base prospectus for the offering, when available, can be obtained by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, Phone: 1- 866-471-2526, Fax: 1-212-902-9316 or by emailing Prospectus-ny@ny.email.gs.com or SG Americas Securities LLC, ATTN: Bond Syndicate, 245 Park Avenue, New York, NY 10167, phone: 1-855-881-2108, or email: us-glfi-syn-cap@sgcib.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration. or the qualification under securities laws of such jurisdiction. The securities offered have not been approved or disapproved by any regulatory authority, and neither regulatory authority has passed judgment on the accuracy or sufficiency of the prospectus supplement or the shelf registration statement or the prospectus.

About OneMain Holdings, Inc.

OneMain Holdings, Inc. (NYSE: OMF) has been providing responsible and transparent lending for over 100 years. With approximately 1,400 locations in 44 states, the company is committed to helping people with their personal loan needs. OneMain and the members of its team are dedicated to the communities where they live and work.

Caution Regarding Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the intention of OMH and OMFC to carry out the offer and issue the 2028 the notes and the collateral, the expected closing date and the intended use by SOMFO of the net proceeds of the offering. Completion of the offer is subject to market conditions and other factors beyond our control. Accordingly, no assurance can be given that the offer will be made on the terms contemplated or at all and you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the important risks and factors that could affect these forward-looking statements, see the sections entitled “Risk Factors” in the prospectus supplement relating to the offering, in the combined annual report of OMH and the OMFC on Form 10-K for the fiscal year ended December 31, 2020, in subsequent Combined Quarterly Reports of OMH and OMFC on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, respectively , and in other documents filed by OMH and OMFC with the SEC. Neither the OMH nor the OMFC undertake to publicly disclose any revisions to forward-looking statements they have made to reflect events or circumstances occurring after the date hereof or the occurrence of unforeseen events.


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What is the average amount of an Australian home loan? https://sendika12.org/what-is-the-average-amount-of-an-australian-home-loan/ https://sendika12.org/what-is-the-average-amount-of-an-australian-home-loan/#respond Sun, 27 Jun 2021 07:00:00 +0000 https://sendika12.org/what-is-the-average-amount-of-an-australian-home-loan/ According to the Australian Bureau of Statistics (ABS), the average mortgage loan amount in Australia as of December 2020 is around $ 728,500, which may seem like a lot. But you have to remember that the state and capital in which you reside is an important factor that determines the value of the property, which […]]]>

According to the Australian Bureau of Statistics (ABS), the average mortgage loan amount in Australia as of December 2020 is around $ 728,500, which may seem like a lot. But you have to remember that the state and capital in which you reside is an important factor that determines the value of the property, which in turn influences the average Australian home loan.

Average amount of mortgage loans by state

As of December 2020, the highest average mortgage loan amount in Australia is in New South Wales and is estimated to be around $ 939,700. In comparison, the average mortgage loan amount in Victoria is around $ 785,000. The lowest average Australian mortgage debt is around $ 429,400 in the Northern Territory, more than $ 500,000 less than the New South Wales (NSW) average.

What is the average interest rate for home loans in Australia?

There is no single average interest rate for a mortgage, as these frequently vary depending on the type of loan and the borrower’s financial situation. For example, according to the Reserve Bank of Australia (RBA), the average variable interest rate for homeowner mortgages in 2021 was 3.12% for outstanding loans and 2.78% for new loans. (as for first-time buyers). Fixed rate mortgages and investment real estate loans can have different average interest rates.

Knowing the average interest rate on certain types of home loans can give you a better idea of ​​which mortgage lenders offer low rates in comparison, although it is important to consider more than the interest rate when choosing a mortgage. ‘a mortgage.

How much will my mortgage payments cost?

Your mortgage repayment is based on several factors, including the amount of the loan, your interest rate and the length of the loan. Before you decide to take out a mortgage, you must understand the monthly amount you will have to pay for its repayment. Manually calculating your mortgage repayments can seem daunting, but using an online calculator will make it easier for you.

How to use an online calculator to determine your monthly repayment

An online calculator can give you an estimate of how much you’ll need to make as a monthly repayment, based on various loan amounts, interest rates, and loan terms. This can help you determine what you can afford, so you can make your mortgage payments on time and minimize the risk of financial distress.

Average mortgage rates in Australia are currently at historically low levels, which may not stay the same over a long period. Calculating your repayments based on the average variable rate home loans in Australia can help you make an informed decision when comparing home loans including fixed rate home loans.


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That was the average mortgage amount in May. Can you swing it? https://sendika12.org/that-was-the-average-mortgage-amount-in-may-can-you-swing-it/ https://sendika12.org/that-was-the-average-mortgage-amount-in-may-can-you-swing-it/#respond Sun, 27 Jun 2021 07:00:00 +0000 https://sendika12.org/that-was-the-average-mortgage-amount-in-may-can-you-swing-it/ It is a difficult time when looking to buy a home. Not only are inventories extremely tight, but home prices have skyrocketed over the past year as low mortgage rates have pushed up buyer demand. In fact, the average mortgage loan signed in May was $ 384,000, according to the Mortgage Bankers Association. This is […]]]>

It is a difficult time when looking to buy a home. Not only are inventories extremely tight, but home prices have skyrocketed over the past year as low mortgage rates have pushed up buyer demand.

In fact, the average mortgage loan signed in May was $ 384,000, according to the Mortgage Bankers Association. This is a significant increase from the average home loan amount of $ 377,434 in April, and it is also the fourth consecutive month that mortgage values ​​have increased.

6 simple tips to get a 1.75% mortgage rate

Secure access to The Ascent’s free guide on how to get the lowest mortgage rate when buying your new home or refinancing. Rates are still at their lowest for decades, so act today to avoid missing out.

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How Much Mortgage Payment Can You Afford?

You will often hear it said that it is a good idea to keep your housing costs at 30% or less of your take home pay. There are exceptions, of course. In some parts of the country, this 30% threshold may not be possible due to perpetually inflated house prices. And in some cities, not needing a car can allow more room to maneuver in housing.

But for the most part, you should aim to keep your housing costs at no more than 30% of your salary. And to be clear, that doesn’t mean your mortgage payment alone can eat up 30% of your paycheck.

Your mortgage payment, which is made up of the principal and interest on your loan, is only a portion of what you’ll spend each month on owning a home. You will also need to cover the costs of:

  • Property taxes
  • Home insurance
  • Private mortgage insurance, if you don’t make a 20% down payment and have a conventional loan
  • Homeowners Association Fee (HOA), if you buy from an HOA that charges dues

As such, when thinking about that 30% threshold, make sure you factor in all of the above as well as your loan’s principal and interest.

Plan ahead and spend wisely

Now back to today’s real estate market. Because home values ​​are so inflated, you might find that a neighborhood that you would normally be able to afford is now a huge financial strain. And if so, you may need to be prepared to buy a home elsewhere, or put your home search on hold until more listings hit the market.

If you spend too much money on housing, you risk falling behind not only on your mortgage itself, but on your bills in general. If this happens, you could end up ruining your credit and racking up a big pile of debt.

To make sure you don’t break the bank on housing costs, use a mortgage calculator to see what your monthly payments will look like based on the homes you are considering and the funds you have available for a down payment. And then make sure you stick to that 30% rule.

While mortgage debt is generally considered a healthy type of debt, since it eventually allows you to own an asset that can grow in value over time, too high mortgage debt is anything but healthy.

Across the country, borrowers are taking on higher and higher mortgages so they can buy homes in today’s market. But if you think a $ 384,000 mortgage, or something in that neighborhood, is uncomfortable for you, you need to either change gears when it comes to your home search or put your purchase plans on hold. ‘that house prices go down.


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5 Ways New Home Loan Borrowers Can Reduce EMI Amount https://sendika12.org/5-ways-new-home-loan-borrowers-can-reduce-emi-amount/ https://sendika12.org/5-ways-new-home-loan-borrowers-can-reduce-emi-amount/#respond Fri, 25 Jun 2021 07:00:00 +0000 https://sendika12.org/5-ways-new-home-loan-borrowers-can-reduce-emi-amount/ Taking out a home loan is an important decision. If you don’t do enough homework to focus on the best possible deal, it can get expensive because a mortgage is a long-term loan that often lasts between 15 and 20 years. For example, a critical factor that will help you decide which lender to approach […]]]>
Taking out a home loan is an important decision. If you don’t do enough homework to focus on the best possible deal, it can get expensive because a mortgage is a long-term loan that often lasts between 15 and 20 years.

For example, a critical factor that will help you decide which lender to approach is the interest rate charged on the loan. Not getting the lowest possible rate can be costly. Example: An interest rate difference of only 0.5% (7.5% instead of 7%) for a loan of Rs 50 lakh may result in a higher EMI expense of Rs 3.64 lakh for a 20-year mortgage loan.

That’s why it’s important to make sure you tick all the right boxes at the very beginning. Here’s how a new home loan borrower can lower their EMI amount.

1. Find the lowest interest rate

An online search can easily give you the interest rate charged by various banks and housing finance companies. However, you should understand that the lowest rate is not available to all borrowers as it often comes with various conditions. Therefore, you should pre-screen at least 5-7 lenders and then start checking their terms and conditions for the lowest interest rate. If you find a suitable lender, a lower interest rate will help lower your EMI.

Read also: Home loan linked to the repo rate: Here are the interest rates for home loans linked to the repo rate

Many lenders such as SBI,

and offer their best rates to employee customers, and they charge a higher rate to non-employee customers. So you need to compare the best rate you can get for your profile. In addition, the lowest rate is often offered to customers with excellent credit scores. So you need to get your credit report and check the best rate you can get against your score. Having a female borrower as a co-applicant can also help you reduce your interest by 0.05%. So, if you take out the loan together with your spouse, you can get a better rate.

Also Read: A 50 Point Increase In Your Credit Score Can Save You So Much On Loan Interest Payment

2. Choose the right property

While you may have selected a lender that offers you the lowest interest rate that suits your profile, the lender may not approve the loan due to the property itself. Many lenders have a negative list of property types and locations in which they do not provide loans. So you need to check if the lender you plan to contact will finance the property you want to buy. If the property is on the negative list, you may need to choose the next best lender or narrow down your property selection so that it meets the terms of the lender at the lowest rate.

3. Plan for a higher down payment

Most lenders give the lowest interest rate to borrowers who keep the loan-to-value ratio (LTV) low by making higher down payments. So, if you can make a down payment greater than 20-25%, you can get the lowest rate offered by the lender. So, a higher down payment not only lowers your IME by keeping the overdue amount low, but can also earn you a lower interest rate on the loan.

Reduce EMI with a higher down payment
Home value Rs 35 lakh Rs 35 lakh
Advance payment Rs 5 lakh Rs 7 lakh
LTV ratio (%) 85.71% 80%
Mortgage loan Rs 30 lakh Rs 28 lakh
Interest rate* 6.90% 6.80%
Mandate 20 20
IEM 23079 21374
* SBI mortgage term interest rate

4. Opt for a longer term

Another option is to take a loan with a longer term. For example, if you take out a home loan of Rs 40 lakh at an interest rate of 7.5% per annum with a term of 20 years, your EMI will be Rs 32,224. However, if you opt for a mandate of For 25 years, the IME drops to Rs 29,560, and in the case of a 30-year term, the EMI will be Rs 27,969.

Reduce EMI with longer occupancy time
Amount of the loan Rs 50 lakh
Interest rate* 7.05%
EMI (10-year term) 58,183 rupees
EMI (15 years job) Rs 45 081
EMI (20-year term) 38 915 rupees
EMI (25 years job) 35,499 rupees
EMI (30 years profession) 33 433 rupees
* SBI mortgage term interest rate

However, the longer the term of the loan, the higher the total interest payment will be. So this should be your last resort option. Also, by the time you can afford to pay a higher EMI amount, you should get the loan restructured and reduce the term, or start making partial prepayments.

5. Opt for home savings loans

If you have fluctuating income and are looking for flexibility for a few months when you have to pay a lower EMI amount, then a home savings loan may be an option. These are similar to the overdraft facility, where your minimum obligation remains to pay monthly interest only. So in a few months you can lower your monthly payment to the interest amount and whenever you are comfortable you can start paying a higher amount again to reduce the outstanding principal amount.

It can be suitable for businessmen and professionals with cyclical income, as they can pay a higher amount when they have enough surplus to reduce the interest charges and draw on the loan when they run out of funds. .

However, keep in mind that these loans often come with a higher interest rate and you will end up paying 0.15-1% higher interest than a regular home loan.


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