ATL has aggressive expansion plans, with an annual capex target of about Rs50 billion ($603m) against cash flow from operating activities (after interest and tax) of about Rs20 billion, Leonard Law, ...a senior credit analyst with Lucror Analytics said in a note on Thursday (February 23). According to the research firm, on 16 February, the Adani Group held a serious of fixed income investor calls to provide financial and strategic updates on the group, APSEZ and AGEL. Adani group management said: all 2024 maturities will be refinanced all Adani Group’s listed entities have completed their audits on schedule with no qualified opinions expressed by auditors an external party will conduct an independent audit review to spot anomalies in its financial disclosures and put checks and balances in place rhe promoter will prepay all share-backed loans within the next 20 days all liquidity lines remain undiminished at both the sponsor and opco levels the group will cut capex and M&A activity unless legally bound, over the next 12-18 months to help deleveraging On February 20, 2023, Bloomberg reported that Adani Group will not bid for a stake in electricity trader PTC India Amid this backlash from investors, Sri Lanka’s Board of Investment on February 22 approved 2 wind power plants for AGEL with total investment of $442 million.
Refinancing Risk and Cash Holdings HARFORD, JARRAD; KLASA, SANDY; MAXWELL, WILLIAM F.
The Journal of finance (New York),
June 2014, Volume:
69, Issue:
3
Journal Article
Peer reviewed
Open access
We find that firms mitigate refinancing risk by increasing their cash holdings and saving cash from cash flows. The maturity of firms' long-term debt has shortened markedly, and this shortening ...explains a large fraction of the increase in cash holdings over time. Consistent with the inference that cash reserves are particularly valuable for firms with refinancing risk, we document that the value of these reserves is higher for such firms and that they mitigate underinvestment problems. Our findings imply that refinancing risk is a key determinant of cash holdings and highlight the interdependence of a firm's financial policy decisions.
Mortgages loans are vital for the acquisition of housing property and mortgage lending rates play an important role in mortgage market trends, borrowers, and lenders’ decisions. Objective: the aim of ...this paper is to evaluate the combined effect of current and previous mortgage rates on mortgage refinancing. Prior work: the paper inclines on the ontology of a single reality of the interaction between mortgage rates and mortgage refinancing with attendant epistemology that their interaction is measurable. Method: the paper adopts the positivist paradigm and a quantitative technique. It used data on the U.S. Mortgage Bankers Association (MBA) retrieved from the economic and financial database of Fusion Media. Data were analysed using the OLS technique. Novel Findings show that current-actual and previous mortgage rates have a significant positive effect on mortgage refinancing at p=0.05 and p=0.04 respectively. Significance: the findings have implication for mortgage lending and refinancing decisions for mortgage bankers (lenders), mortgage borrowers and policy makers. It also provides current academic study material for university business schools and for future researchers to apply the model used in this research for related expanded research. Value: The paper contributes a new model with two genres of mortgage rate (current mortgage rate and previous mortgage rate) and how these two types of mortgage rates influence mortgage refinancing.
Ares Management Corp has struck a deal to take ownership of a financially troubled gas-fired combined-cycle power plant in PJM Interconnection which was financed with a debt package that is due to ...mature six months from now. According to a US Federal Energy Regulatory Commission filing dated June 4, Ares has agreed to acquire the voting ownership interests in the Stonewall facility from Panda and Siemens Financial Group, the latter of which holds a preferred equity position. ...the recently concluded PJM capacity auction for delivery year 2022/2023, which disappointed many market participants due to the resulting record low clearing prices, could throw a spanner in the works.
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