David M. Goodrich’s Post

Andrew Stove CPV, AAPI, JP(Qual) Qld, Director, Valuation & Advisory Services recently presented at Bond University on the Gold Coast. His seminar, ‘Specialist and Statutory Valuation’ covered the history, governance and standards of service stations from a valuation perspective. Andrew’s expertise on service station valuations including inspection criteria and procedures were discussed, as well as benchmarking and the future of this specialised asset class. #Colliers #BeEnterprising #ServiceStations #Valuations 

Next up we have a NAIC address at PPIF! Carrie Mears, Chair, NAIC Valuation of Securities Task Force, National Association of Insurance Commissioners (NAIC) and Charles Therriault, Director, NAIC Securities Valuation Office, NAIC join us to give an overview of the latest regulatory updates from the NAIC and what it means for the private placements industry. #PPIF

Saigon Glory extends maturity date of 10 trillion VND bond by 1 year According to the agreement on 05/02/2024, 10 bond lots with the codes SGL-2020.01 to SGL-2020.10 will be extended. Each lot has a value of 1 trillion VND. The maturity period of all 10 lots will be extended from 1 year to 2 years. Firstly, for the three bond lots from SGL-2020.01 to SGL-2020.03, with the maturity date in June 2023, it will be extended to June 2025. The two lots SGL-2020.04 and SGL-2020.05, with the maturity date moved from July 2023 to July 2025. For the remaining 5 lots from SGL-2020.06 to SGL-2020.10, with the maturity date in August 2025, it will be extended to November 2026, adding 15 months. During the extension period, Saigon Glory will repurchase the principal of each lot as soon as possible, but not later than the scheduled progress, with an increasing repayment rate per period. For the 5 lots from 01-05, the principal repurchase will be divided into 6 periods, while the 5 lots from 06-10 will be divided into 7 periods. The repurchase schedule of SGL-2020.01 bond lot during the extension period Source: HNX The repurchase schedule of SGL-2020.10 bond lot during the extension period Source: HNX The first payment cutoff date is the resolution date of the extension of the 10 bond lots, which is 05/02/2024. For the remaining payment periods, the cutoff date will be the third working day before the repurchase date. Saigon Glory also notes that it will not send a notice to repurchase the principal to bondholders. On the other hand, bondholders do not need to take any additional legal procedures to have their bond principal repurchased. During the extension period, all 10 bond lots will apply an interest rate of 8% per year. The interest calculation period will also be adjusted, from every 3 months before the extension period to every 12 months from the start date of the extension. In October 2022, after the incident involving Van Thinh Phat, Mr. Vu Quang Bao – Chairman of the Board of Directors of Saigon Glory and Ms. Bui Thi Thanh Hien – Deputy General Director of TVSI signed a confirmation that Saigon Glory will repurchase the entire 100 million bonds before maturity, with a total face value of 10 trillion VND in 2 stages. Specifically, for bond lots with sequential codes from SGL-2020.01 to SGL-2020.05, Saigon Glory commits to repurchase before maturity but not later than 12/06/2023. For bond lots with sequential codes from SGL-2020.06 to SGL-2020.10, Saigon Glory commits to repurchase before maturity as soon as possible, but not later than 12/06/2024. At the same time, the company commits to fulfill all related obligations and make full and timely payments of principal and interest for all the mentioned bond lots. However, in reality, in 2023, Saigon Glory did not repurchase any bond lots before maturity and continuously had meetings with bondholders to adjust the bond maturity dates. In 2022, the company paid over 1,110 billion VND and in...

Exciting news for CFGI!

Exciting news for CFGI!

Exciting news for CFGI!

Very exciting news today at #CFGI as we welcome Jay Clayton, former Chairman of the #SEC, to our Board of Directors. His insight and leadership will be a valuable asset to the firm and clients while continuing to drive growth. If you're curious about how CFGI can help your business or clients, please feel free to reach out to myself or any of our team at CFGI!

Exciting news for CFGI!

First Foundation #FFWM is expected to close its $228 million #recap today or sometime this week. When one has to have capital, it is expensive if available at all. The company has heavy exposure to multi-family CRE, though to date the issue has been a duration/low-yield asset issue rather than poor credit. Many more recaps will follow over the next year or two absent significant rate reductions. The prospective IRR for the new capital looks interesting IMO. #banks #dilution #NYCB #mercercapital #jpmorgan #citigroup #wellsfargo #federalreserve #occ #FDIC #WSJ #bloomberg

DIFC Family Wealth Centre announces the release of "Understanding #DIFC Trusts: A Comprehensive Guide" a collaborative publication by our accredited advisors on governance and succession planning Equiom Group. This guide offers in-depth insights into trust structures within DIFC, serving as an invaluable resource for wealth and estate planning. Access the guide here: https://lnkd.in/d_fYtP3A #WealthManagement #EstatePlanning #DIFC #Trusts #FamilyWealth