Latest Federal Reserve System Stories
New Banking Relationship Aligns Credit Facilities with Corporate Growth Strategy MILWAUKEE, April 25, 2013 /PRNewswire/ -- ARI Network Services, Inc. (OTCBB:ARIS), a leader in creating, marketing, and supporting SaaS and DaaS solutions that connect consumers, dealers, distributors, and manufacturers in selected vertical markets, announced today the closing of new senior secured credit facilities with Silicon Valley Bank. The new credit facilities are structured to help ARI better...
LIVONIA, Mich., April 23, 2013 /PRNewswire/ -- Tower International, Inc. (NYSE: TOWR), a leading integrated global manufacturer of engineered structural metal components and assemblies, today announced that it has entered into a new credit facility that provides for a term loan in an aggregate amount of $420,000,000. The maturity date for the term loan is April 23, 2020. The term loan will bear interest at (i) an alternate base rate (which is the highest of the Prime Rate, the...
Credit Union among few lenders nationwide offering no money down option. VIENNA, Va., April 22, 2013 /PRNewswire-USNewswire/ -- Navy Federal Credit Union is putting members in homes with its proprietary Home Buyers Choice mortgage--a one hundred percent financed, no private mortgage insurance required, 30-year, fixed rate, conventional loan--and says the program can enhance the beginnings of mortgage industry's turnaround. (Logo:...
VIENNA, Va., April 16, 2013 /PRNewswire/ -- Spear, Inc. (Spear), a leading provider of IT solutions and management consulting services to the federal government, announced today the appointment of Beth McCall as the Senior Vice President of Spear's Federal Civilian Division. With over 25 years of experience in the federal IT industry, Beth will advance Spear's sales and business development platform within the civilian federal marketplace to include all federal healthcare. As a...
SAN FRANCISCO, April 9, 2013 /PRNewswire/ -- Digital Realty Trust, Inc. (the "Company" or "Digital Realty") (NYSE: DLR) today announced the closing of an underwritten public offering of 10.0 million shares of 5.875% Series G Cumulative Redeemable Preferred Stock (the "Series G Preferred Stock") at a price of $25.00 per share for gross proceeds of $250.0 million (including 1.0 million shares pursuant to the partial exercise of the underwriters' over-allotment option). The Series G...
Advocacy Releases Study of the Relationship between Bank Health and Small Business Exports WASHINGTON, April 4, 2013 /PRNewswire-USNewswire/ -- Improved small business lending by banks in the United States would boost exports by the smallest businesses, says a new report issued today by the U.S. Small Business Administration (SBA) Office of Advocacy. The report, called The Impact of Credit Availability on Small Business Exports, examines the relationship between steep declines in...
LOS ANGELES, April 2, 2013 /PRNewswire/ -- Webxu, Inc. (OTCBB: WBXU), a media company that owns and operates a network of consumer branded websites and businesses focused on Customer Acquisition, E-Commerce and Mobile Media, today announced the conversion of existing bridge debt and an improved Balance Sheet. During Q1 2013, Webxu note holders converted $550 thousand of debt into common stock. The amount converted represents 32.4% of investment debt, 17.7% of all debt appearing on...
TheStreet and RateWatch Report Top CD Rate Issuers NEW YORK, April 2, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that National averages for 3-year CD rates ticked slightly lower to 0.52% from the prior week's 0.53%, but have generally remained unchanged at record-low levels. The Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008....
SEATTLE, April 2, 2013 /PRNewswire/ -- Onvia, Inc. (Nasdaq: ONVI), a leading provider of comprehensive government-business market intelligence, announced today that it has entered into a definitive agreement to repurchase shares of its common stock from Symphony Technology Group, LLC and certain affiliates thereof. Under the terms of the agreement, Onvia has repurchased from Symphony and certain affiliates thereof, in a private, non-underwritten transaction, 1,242,781 shares of...
CORAL GABLES, Fla., March 29, 2013 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) -- MasTec, Inc. (the "Company" or "MasTec") today announced the expiration and final results of its previously announced cash tender offer for any and all of its $150,000,000 outstanding principal amount of 7.625% Senior Notes due 2017 (the "Notes") and solicitation of consents from the holders (the "Holders") of the Notes to adopt certain amendments to the indenture governing the Notes (the "Indenture")....
