Repayment – Stan Smith Loans http://stansmithloans.com/ Thu, 30 Jun 2022 06:28:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://stansmithloans.com/wp-content/uploads/2021/07/favicon-23.png Repayment – Stan Smith Loans http://stansmithloans.com/ 32 32 RhoVac Provides Status Update and Investigation of Potentially Accelerated Convertible Loan Repayment https://stansmithloans.com/rhovac-provides-status-update-and-investigation-of-potentially-accelerated-convertible-loan-repayment/ Thu, 30 Jun 2022 06:28:03 +0000 https://stansmithloans.com/rhovac-provides-status-update-and-investigation-of-potentially-accelerated-convertible-loan-repayment/ RhoVac AB (“RhoVac”), (June 30the 2022) a Swedish company active in cancer immunotherapy, was forced May 29, 2022 to announce that the company’s Phase IIb prostate cancer study, BRaVac, despite previous positive drug-related results, failed to show that RV001 (onilcamotide) was superior to placebo for prevent progression in patients with biochemical recurrence (an increase in […]]]>

RhoVac AB (“RhoVac”), (June 30the 2022) a Swedish company active in cancer immunotherapy, was forced May 29, 2022 to announce that the company’s Phase IIb prostate cancer study, BRaVac, despite previous positive drug-related results, failed to show that RV001 (onilcamotide) was superior to placebo for prevent progression in patients with biochemical recurrence (an increase in PSA) after treatment with curative intent. Further research on the study data has been undertaken, but so far nothing substantial has been identified that has a justifiable risk/benefit ratio to warrant further studies. The review of the data will continue during the month of July. At the same time, the Board is examining the possibilities of a possible merger between RhoVac and another potential company, an option that might yield the best return on the company’s assets. The alternative is probably a solvent liquidation of the company if additional studies are not deemed justified. Regardless of the options in the end, the company is studying the possibilities of an accelerated repayment of the convertible loan with a first installment already later this summer.

At the end of May, the company put in place a contingency plan focused on minimizing costs, while the company carries out more in-depth analyzes of the results, in order to facilitate the recommendations of the board of directors on the future of the society. The status is as follows:

  • An immediate discontinuation of the long-term follow-up of the BRaVac study was implemented at the same time as RhoVac terminated the agreement with the CRO that carried out the study. Additionally, the company’s staff, including consultants, has been reduced to reduce costs. Business Development Manager, Steffen Wad Jorgensenhas received notice of termination of the contract. Steffen Wad Jorgensen will continue to work for the company during their three-month notice period.
  • The company performed analyzes of the main results of the study to analyze whether a subgroup of patients responded better than the group as a whole. To date, these analyzes have not yielded substantial results in this regard. Analyzes will continue, in particular focusing on the relationship between efficacy and different types of immune types, called HLA types. This is based on data that will not be available until July.
  • RhoVac is studying the possibility of a merger, known as a “reverse merger”, whereby another company would benefit from RhoVac trading platform, assets and certain key personnel. It could have potential value, and RhoVac will come back with information on this at the latest at the end of July.
  • If neither the further analysis of the study data nor a possible merger justify the continuation of the activities of the company, the alternative is probably a solvent liquidation of RhoVacwhereby the company repays all debts, realizes its assets and returns the remaining cash to shareholders.

RhoVac will convene an Extraordinary General Meeting (AGE) to be held at September 2022 at the latest. Right now, RhoVac expects to have a decision-making basis for all available alternatives, as above, and the EGM is assessed as able to decide the future of the company based on the recommendations of the board administration. Regardless, repayment-of-the-converti-40861171/xmltag.org”>RhoVac is exploring the possibilities of an accelerated repayment of the convertible loan with a first installment later this summer.

This disclosure contains information that RhoVac is required to make public under the EU Market Abuse Regulation (EU 596/2014). The information has been submitted for publication, through the contact person, the 30-06-2022 08:27 CET.

For more information please contact:
Anders Mansson – CEO, RhoVac AB
Telephone: +46 73 751 7278
Email: info@rhovac.com

On RhoVac AB
RhoVac was established as a private company in Denmark in 2007. Within this company, the basic stages of the development of the drug candidate RV001 have been initiated. In 2015 the Swedish RhoVac AB was formed, which now has its registered office and in 2016 the company was listed on the then Aktietorget in Sweden (now Stock market). RhoVac has passed the early stages of development.In 2019, patient recruitment began for a larger Phase IIb clinical study that included over 180 prostate cancer patients. Top Line results were featured in May 2022. Other data are currently being evaluated. RhoVac is listed on the Spotlight Stockmarket. The stock is traded under the ticker RHOVAC. More information is available at www.rhovac.com.

https://news.cision.com/rhovac/r/rhovac-provides-a-status-update-and-investigates-a-potentially-accelerated-repayment-of-the-converti,c3593434

https://mb.cision.com/Main/13747/3593434/1598925.pdf

(c) Decision 2022. All rights reserved., sources Press Releases – English

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CALFRAC ANNOUNCES REPAYMENT OF BRIDGE LOAN https://stansmithloans.com/calfrac-announces-repayment-of-bridge-loan/ Tue, 28 Jun 2022 10:00:00 +0000 https://stansmithloans.com/calfrac-announces-repayment-of-bridge-loan/ CALGARY, Alta., June 28, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac“or the”Company“) (TSX: CFW) announces the refund and cancellation yesterday of $25.0 million Bridge loan guaranteed at 8.00% (the “Bridging loan“) of G2S2 Capital Inc., a company controlled by George Armoyan, director of Calfrac. The Company had fired $15.0 million under this loan facility […]]]>

CALGARY, Alta., June 28, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac“or the”Company“) (TSX: CFW) announces the refund and cancellation yesterday of $25.0 million Bridge loan guaranteed at 8.00% (the “Bridging loan“) of G2S2 Capital Inc., a company controlled by George Armoyan, director of Calfrac. The Company had fired $15.0 million under this loan facility prior to its repayment.

The bridge loan was executed during the first quarter of 2022 to fund the Company’s short-term working capital needs as the market for pressure pumping services improved significantly in North America.

Mike OlinekChief Financial Officer of the company, said, “The repayment of the bridge loan is a positive step for Calfrac as we continue to demonstrate our improving liquidity position in this tightening services market. Going forward, we remain focused on optimizing our operational efficiencies. , obtaining net price increases from our customers and prudently allocating capital to maximize the Company’s free cash flow, which will be dedicated to further reductions in our long-term debt.”

Calfrac’s common shares and warrants trade on the Toronto Stock Exchange under the symbols “CFW” and “CFW.WT”, respectively.

Calfrac provides specialized oilfield services to exploration and production companies aiming to increase hydrocarbon production from wells with concentrated operations in the west Canada, United States and Argentina.

SOURCE Calfrac Well Services Ltd.

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View original content: http://www.newswire.ca/en/releases/archive/June2022/28/c5664.html

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Repayment of student loans: everyone wins https://stansmithloans.com/repayment-of-student-loans-everyone-wins/ Fri, 24 Jun 2022 11:39:43 +0000 https://stansmithloans.com/repayment-of-student-loans-everyone-wins/ (Photo: Shutterstock) Policy makers have taken up the cause of the financially crippling level of student debt in the United States, creating a good news/not so good news scenario for anyone with a stake in the situation. One development: The pause on student loan repayments ordered by the U.S. Department of Education in March 2020 […]]]>
(Photo: Shutterstock)

Policy makers have taken up the cause of the financially crippling level of student debt in the United States, creating a good news/not so good news scenario for anyone with a stake in the situation.

One development: The pause on student loan repayments ordered by the U.S. Department of Education in March 2020 has been extended until August 31, 2022. For qualifying loans, this means:

  • a suspension of loan repayments;
  • an interest rate of 0%;
  • Collections suspended on delinquent loans.

This benefited 37 million Americans. Sadly, 83% of them were unable to repay much, if any, of that debt during the break. And between inflation and the general poor financial health of Americans even before the pandemic, many will struggle to transfer the money they reallocated from other debts to their student loans once the freeze ends.

For employers, the whole student loan issue is an opportunity to stand out and stand out in today’s fiercely competitive job market. They will also help themselves by taking advantage of the tax exemptions that came into play with the CARES Act and the late 2020 coronavirus relief bill.

Student loan debt, which now sits at $1.7 trillion, has long been a societal burden and concern. Two recent provisions have offered relief: Under the CARES Act of 2020, employers can now help pay off employees’ student debt tax-free, up to $5,250 per year.

This extension of Section 127 of the Internal Revenue Code changed what was previously a strictly after-tax benefit to now allow employer contributions to student loan debt as a qualified education expense. As a deductible expense for the employer, without the employee incurring any taxable income, it offers tax benefits to both parties. This provision has been extended until December 31, 2025.

Any other changes in sight?

The changes are a good start, and they are long overdue. Section 127 was added as a temporary amendment to the IRC in 1978, allowing employers to provide education assistance to employees, a tax-deductible expense for the business without a tax penalty for the employee . Section 127 was made permanent in 2012.

Until the CARES Act of 2020, Section 127 did not apply to prior educational activities – nor to tax exclusion benefits for the repayment of existing student loans. The CARES Act imposed a one-year deadline on the provision, which was later pushed back to January 1, 2026.

Today, a bipartisan team of lawmakers introduced the Upgrading, Retraining and Assistance Act making the provisions of Section 127 permanent. It would also extend the allowable tax exclusion to $12,000 for two years. (It has remained at $5,250 since 1978.) This would also cover the cost of education-related tools and technology.

A much-requested benefit

Employers would do well to study the ins and outs of the Section 127 changes. They’re complicated, but the benefits can pay off on many fronts. Student loan assistance is offered by nearly half of employers currently, compared to 32% in 2018. Studies suggest this benefit could keep workers aged 22 to 33 committed to his employer for at least five years.

The changes are expected to save employees up to 30% on state and federal income taxes, with variations based on individual tax rates and whether student loan interest was deductible. Employers can save up to 10% in FICA/FUTA/SUTA, varying by state tax rates.

Employers can incorporate student loan repayment programs into their list of voluntary benefits by adopting a written plan under Section 127 or by modifying their existing plan to reflect the employer contribution. Any qualified education loan under the federal tax code incurred by the employee for the employee’s education is eligible. Third-party student loan providers are well placed to facilitate contributions.

Employers should be mindful of compliance considerations when doing:

  • Structuring contributions may be treated differently depending on the employee’s category or seniority. But the benefit cannot be offered only to highly paid employees (as defined by Internal Revenue Service (IRS) rules) or those with more than 5% ownership in the company, under the provisions of section 127.
  • Each class must be non-discriminatory, according to IRS rules; qualified administrators of Section 127 plans should be consulted for advice.

Taking advantage of improvements to student loan programs will pay off for everyone. There is a correlation between reducing the financial burden on employees and lower rates of presenteeism, absenteeism and reduced health care costs.

Companies are looking for savings wherever they are while offering attractive benefits to current and potential employees. Improvements to the tax code create an additional boost for student loan programs.

Heather GarbersCVBS, is Vice President of Voluntary Benefits and Technology for International Hub, where she is responsible for driving sales and the voluntary benefits strategy. She is also responsible for partnering with clients to create optimal enrollment and communication solutions that improve employee understanding and engagement with voluntary plan options. Heather has earned the Certified Voluntary Benefits Specialist (CVBS) designation from the Voluntary Benefits Association and is a member of its National Advisory Board. She is also the recipient of Employee Benefit News’ 2015 Volunteer Advisor of the Year award and was named one of LifeHealthPro’s “15 Women in Insurance You Need to Know” in 2016.

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College students in limbo as CARES Act and student loan repayment freeze are on hold https://stansmithloans.com/college-students-in-limbo-as-cares-act-and-student-loan-repayment-freeze-are-on-hold/ Thu, 23 Jun 2022 19:09:39 +0000 https://stansmithloans.com/college-students-in-limbo-as-cares-act-and-student-loan-repayment-freeze-are-on-hold/ BIG RAPIDS – As applications are sent out and acceptance letters are mailed out, some parents and students might wonder about the state of financial aid at colleges. Coronavirus, Aid, Relief and Economic Security Act and Higher Education Economic Relief Fund — federal COVID-19 financial aid programs — are most likely ending soon, said Melanie […]]]>

BIG RAPIDS – As applications are sent out and acceptance letters are mailed out, some parents and students might wonder about the state of financial aid at colleges.

Coronavirus, Aid, Relief and Economic Security Act and Higher Education Economic Relief Fund — federal COVID-19 financial aid programs — are most likely ending soon, said Melanie Mulder, associate director of financial aid at Ferris State University. .

“We are going to see a reduction (in financial aid),” she said. “I haven’t heard any recent discussion about continued funding past the Spring 2022 semester.”


However, the stock markets are still going strong. There has been a general increase in scholarship applications since the pandemic, and Mulder said Ferris has tried to facilitate applications.

That may be particularly important because the student loan repayment freeze is still set to end in August, Mulder said.

“We really have no idea what’s going to happen, what the rules will be and who might be impacted,” she said.

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Businesses get loan repayment relief https://stansmithloans.com/businesses-get-loan-repayment-relief/ Wed, 22 Jun 2022 18:00:00 +0000 https://stansmithloans.com/businesses-get-loan-repayment-relief/ Large industries, SMEs and the agricultural sector affected by the floods will benefit from a flexible loan repayment facility until December this year, as Bangladesh Bank yesterday revived the partial loan moratorium amid worsening of the economic crisis. The central bank’s decision came after the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the […]]]>

Large industries, SMEs and the agricultural sector affected by the floods will benefit from a flexible loan repayment facility until December this year, as Bangladesh Bank yesterday revived the partial loan moratorium amid worsening of the economic crisis.

The central bank’s decision came after the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the country’s top trade body, pushed for a relaxed loan classification policy until December.

For all the latest news, follow the Daily Star’s Google News channel.

Bank chief executives and economists, however, have opposed any relaxation of loan repayment rules as it worsens the financial health of lenders and instills a bad habit among borrowers.

They argued that although the eased loan repayment facility reduces the amount of bad debts for the time being, it ultimately increases the amount of delinquent loans.

Yesterday, the BB said it found that borrowers are struggling to repay their loans due to rising prices for raw materials and other inputs as well as transport costs.

He pointed to the negative impacts of the lingering coronavirus pandemic, increasing virus infections, flooding in northern and northeastern regions and escalating commodity prices around the world for the Russian- Ukrainian.

The postponement support aims to maintain the momentum of economic activities and credit growth in the private sector, the BB said in a notice.

According to the latest instructions from the BB, borrowers in major industries could avoid falling into the defaulted loan category by repaying half of the loans payable for the April-June period.

Borrowers must settle 60% of their outstanding loans in the July-September quarter and 80% in the fourth quarter of 2022 if they do not want to be classified as defaulters.

For Small and Medium Craft Enterprises (MSMEs), borrowers must pay 25% of repayable loans in the April to June quarter, 30% in the second quarter and 40% in the last quarter of the year to avoid falling into the failing category.

Only term loans, with a repayment period longer than one year, will be eligible for the new, relaxed grading treatment, the notice said.

In flood-affected areas identified by the Ministry of Disaster Management and Relief, borrowing farmers will not be declared defaulters even if they do not pay any installments between April and December.

CMSME borrowers in affected areas will be required to repay 25% of outstanding loans for the nine-month period.

Working capital loans due April 1 of this year can be repaid by December. These loans are taken out to finance the day-to-day operations of a business.

The unpaid portion of the loans, payable during the nine-month period, will be added to next year’s loans and the size of installments will be adjusted accordingly, the BB said.

Banks cannot impose any penalty interest or fees on beneficiaries for the period April-December.

Loans that were unclassified as of April 1 this year will only be eligible for the new eased repayment facility.

Borrowers who benefited from the relaxed BB facility in 2019 could also benefit from the deferral assistance.

The BB, however, did not specify whether banks would be allowed to show their unrealized interest on loans with deferral support as revenue and how much funds lenders must keep aside as a provision to cover loan losses.

Instructions to this effect will be given at a later date, the notice states.

Borrowers in Bangladesh have been granted a year-round payment holiday throughout 2020 due to the pandemic and could avoid falling into default by paying 15% of the installments payable for 2021.

The central bank has halted support since the start of this year as virus infections waned, paving the way for a strong rebound in the economy, before coming under pressure after the Russia-Ukraine war.

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Crypto lender Babel Finance gets debt repayment reprieve after withdrawals freeze https://stansmithloans.com/crypto-lender-babel-finance-gets-debt-repayment-reprieve-after-withdrawals-freeze/ Mon, 20 Jun 2022 20:36:00 +0000 https://stansmithloans.com/crypto-lender-babel-finance-gets-debt-repayment-reprieve-after-withdrawals-freeze/ A representation of cryptocurrencies in this illustration taken January 24, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register June 20 (Reuters) – Babel Finance, the Hong Kong-based crypto lender that suspended withdrawals and redemptions of crypto assets on Friday, said it had reached an agreement with counterparties on the repayment of […]]]>

A representation of cryptocurrencies in this illustration taken January 24, 2022. REUTERS/Dado Ruvic/Illustration

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June 20 (Reuters) – Babel Finance, the Hong Kong-based crypto lender that suspended withdrawals and redemptions of crypto assets on Friday, said it had reached an agreement with counterparties on the repayment of certain debts to facilitate the short-term liquidity.

Cryptocurrency valuations have plunged in recent weeks as investors dump risky assets amid a rising interest rate environment. Bitcoin BTC=BTSP, which hit a record high of $69,000 in November, has lost more than half of its value this year.

In an update on its website Monday, Babel said it had performed an emergency assessment of its business operations to determine the company’s liquidity status.

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Crypto lenders collect crypto deposits from retail customers and reinvest them, proclaiming double-digit returns and attracting tens of billions of dollars in assets. However, lenders have been unable to redeem their clients’ assets during the recent crisis.

“Babel Finance will actively fulfill its legal responsibilities to its clients and strive to avoid further transmission and diffusion of liquidity risk,” the company said.

Babel, which has 500 customers and deals only in bitcoin, ethereum and stablecoins, raised $80 million in a funding round last month, valuing it at $2 billion. It ended last year with $3 billion in loan balances on its balance sheet. Read more

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Reporting by Akriti Sharma in Bengaluru; Editing by Richard Chang

Our standards: The Thomson Reuters Trust Principles.

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Bankers back FBCCI’s demand for loan repayment moratorium https://stansmithloans.com/bankers-back-fbccis-demand-for-loan-repayment-moratorium/ Fri, 17 Jun 2022 03:14:55 +0000 https://stansmithloans.com/bankers-back-fbccis-demand-for-loan-repayment-moratorium/ FE REPORT | Published: Jun 17, 2022 9:14:55 a.m. | Updated: June 18, 2022 8:36:18 PM Bangladesh’s top bankers are suggesting the central bank consider FBCCI’s request for a loan repayment moratorium until December selectively and conditionally as they cite some deliberate defaults. Following a meeting between the Governor of the Bangladesh Bank and the […]]]>