UGE Reveals Financial Obligation Settlement And More Debt Decrease

TORONTO, ONTARIO–(Marketwired – Feb. 23, 2016) – UGE International Ltd. (the Business or UGE) ( (TSX VENTURE: UG)(OTCQB: UGEIF), an international leader in distributed sustainablerenewable resource solutions, is delighted to reveal it has taken actions to additional strengthen its balance sheet through clear financial obligation repayment and forfeit transactions.

UGEs debt reduction was performed through 3 deals. #xA 0; 2 associated celebration loans to UGE from Chairman Ms. Xiangrong Xie were minimized through payment of 6,846,216 RMB ($1,054,286 USD) and through financial obligation forfeit of 1,830,148 RMB ($281,834 USD). #xA 0; Concurrently, and to contain UGE with greater industrial flexibility, $715,000 USD was advanced by another related celebration as a loan to the Companys US subsidiary. #xA 0; The loan does not bear interest and is due on January 1, 2018. #xA 0; The net reduction in debt through the 3 transactions was around $621,120 USD. #xA 0; This is in addition to the financial obligation to equity conversion announced February 8, 2016 and verified as finalized listed below, which decreased the Companys debt obligation by $500,000 USD.

Because the quarter ended September 30, 2015, the Business has actually reduced associated celebration debt by roughly $1,146,783 USD, a considerable action in its objectives to decrease debt levels and reinforce its balance sheet.

With these transactions complete, we have a cleaner, more powerful balance sheet for the year ahead, mentioned Nick Blitterswyk, CEO of UGE. #xA 0; We value the support and versatility our co-founders have actually offered to our continued growth in the commercial solar sector.

Shares for Debt Issuance

The Business has actually issued 1,240,907 typical shares to a related party in settlement of a debt in the quantity of CAD$ 694,908 ($500,000 USD), as previously revealed by news release on February 8, 2016 (the Shares for Financial obligation Transaction). #xA 0; The shares provided pursuant to the Shares for Financial obligation Deal are subject to a hold duration of 4 months and a day from the date of issuance, with such hold period expiring on June 23, 2016.

Application of Multilateral Instrument 61-101 (61-101)

The abovementioned deals are relatedbelong party transactions within the significance of 61-101 and of TSX Endeavor Exchange Policy 5.9. #xA 0; The Business intends to count on the exemptions from the formal appraisal and minority approval requirements of 61 #x 2010; 101 contained in sections 5.5(b) and 5.7(1)(a) and (b) of MI 61 #x 2010; 101 in regard of relevant party participation. The securities of the Company are noted on the TSX Endeavor Exchange and the OTCQB Market in the US, and at the time that the transactions were concurredconsented to, neither the reasonable market value of the subject of, nor the fair market value of the factor to consider for, the transactions, goes beyond 25 % of the Companys market capitalization, and the reasonable market value of the Shares for Debt Transaction does not exceed $2,500,000.

Letter of Credit

In addition, the Business announces that it has secured the letter of credit needed pursuant to the changed share purchase arrangement for the acquisition of Endura Energy, as previously announced on February 8, 2016.

About UGE

UGE provides immediate savings to companies through cleaner electrical power. We help commercial and commercial customers end up being more competitive through the low cost of dispersed sustainable energy. With over 300 MW of experience worldwide, we work daily to power a more sustainable world. Visit us at

Neither TSX Endeavor Exchange nor its Policy Services Supplier (as that term is defined in the policies of the TSX Endeavor Exchange) accepts obligation for the adequacy or accuracy of this release.

Statements made in this news release include forward-looking statements that include a variety of risks and uncertainties. These statements relate to future occasions or future performance and reflect managements current expectations and presumptions. A variety of factors might cause actual occasions, performance or leads to differ materially from the occasions, performance and results talked about in the forward-looking statements, such as the economy, generally, competitors in its target markets, the need for UGEs products and the availability of funding. These positive statements are made since the date hereof and UGE does not assume any obligation to update or revise them to reflect new occasions or situations. Real occasions or outcomes might differ materially from UGEs expectations and projections.

Paladin Energy Limited: US$ 81.4 Million Decrease In Overall Debt And Langer Heinrich Mine Re-Financing

PERTH, WESTERN AUSTRALIA–(Marketwired – February 29, 2016) –
Paladin Energy Ltd (Paladin or the Company).
(TSX: PDN) announces a one-off US$ 81.4 M reduction in overall financial obligation to US$ 362M through the vital elements of: a payment and termination of the US$ 56.4 M Langer Heinrich Mine (LHM) syndicated facility arrangement (the LHM Syndicated Center); and an added repurchase of a primary quantity of US$ 25M (the CB Repurchase) of its impressive US$ 237M 6.00 % Convertible Bonds due 2017 (the 2017 Convertible Bonds).


  • US$ 81.4 M reduction in overall debt, through:.

    • Payment and termination of the US$ 56.4 M LHM Syndicated Facility.
    • US$ 25.0 M extra repayment of the 2017 Convertible Bonds.
  • Pro-forma overall financial obligation reduced to US$ 362M (from US$ 443M) and comprises:.

    • Remaining 2017 Convertible Bonds US$ 212M.
    • Convertible bonds due March 2020 US$ 150M.
  • Total cash outlay for debt repayment of approximately US$ 80.6 M.
  • Combined savings to 30 June 2017 of US$ 7.0 M.
  • Greater versatility for funding through release of restricted money held against LHM Syndicated Center and intended US$ 25M LHM revolving working capital center.
  • 2H FY2016 all in money expenditure guidance modified down to US$ 33/lb to US$ 35/lb (previously US$ 35/lb to US$ 37/lb).

Payment of the LHM Syndicated Facility.

Paladin has resolved to repay the whole US$ 56.4 M staying drawn under the LHM Syndicated Center and end it. The procedure of containing notice to its lenders under the regards to the center is underway. Money expense for the termination is anticipated to be roughly US$ 57.1 M, which consists ofthat includes the principal outstanding plus accrued interest approximately the date of termination. The LHM Syndicated Facility currently has a rate of interest of roughly 5.08 %. Ending the LHM Syndicated Facility has a number of advantages for the Company, consisting of: (i) release of US$ 28.2 M of cash which has been limited and been held in a financial obligation service reserve account in support of the LHM Syndicated Facility; (ii) removal of a reasonably pricey and inflexible source of funding; and (iii) release of the security plans so that such security can be applied to the new working capital center.

CB Repurchase.

The Company has repurchased an added US$ 25.0 M of the 2017 Convertible Bonds. Money expense for the repurchase is around US$ 23.5 M (including interest to the repurchase date) as the bonds were boughtredeemed at a typical cost of 92.00 percent. The repurchase results in approximately US$ 3.7 M of cash cost savings to Paladin in the kind of avoided principal and coupon repayments over the duration to maturity in April 2017.

This repurchase of US$ 25.0 M together with earlier repurchases of US$ 37.0 M (ie, integrated overall of US$ 62.0 M), has lowered the primary amount exceptional of the 2017 Convertible Bonds from US$ 274.0 M to US$ 212.0 M. Combined cash savings net of the purchase outlay arising from Paladins bought activities now total up to around US$ 10.7 M in the kindthrough avoided principal and promo code payments.

LHM revolving working capital center and reassignment of Kayelekera environmental efficiency bond.

Subject to approval of final terms and crucial consents, Paladin plans to put a US$ 25.0 M 12-month revolving working capital facility in location at LHM. The function will be to supply a buffer facility that can be attracted periods where LHM-level working capital requirements remain in deficit, generally due to the timing of sales invoices. The carrier of the revolving working capital facility is among the Companys existing loan providers under the LHM Syndicated Center. The same lender would take control of the Kayelekera environmental efficiency bond on an unique basis.

Impact on Paladin.

The CB Repurchase together with the early repayment of the LHM Syndicated Facility create cash savings to the Company in the kindthrough avoided future interest and, in the case of the CB Repurchase, lowered principal repayment. The combined money cost savings over the duration to 30 June 2017 amounttotal up to US$ 7.0 M. The avoided interest on both loans and the removal of the LHM Syndicated Facility necessary principal amortisations have the impact of decreasing Paladins guidance for all in cash expense excluding one-off initiatives for the second half of FY2016 to a variety of US$ 33/lb to US$ 35/lb (previously guided to be US$ 35/lb to US$ 37/lb).

On conclusion of the debt reduction and LHM refinancing, the net increase in financial versatility to Paladin leads to a reduction in the external capital needed to refinance the rest of the 2017 Convertible Bonds (ie, moneying space) by approximately US$ 25M to US$ 35M.

Yours faithfully
Paladin Energy Ltd


ACN 061 681 098

Chesapeake Energy (CHK) Stock Higher On Financial Obligation Decrease, Jim Cramer: ‘Be MindfulTake Care’

Stocks within the energy sector are receiving an increase from higher oil costs today too.

Something that is definitely clear is the oil complex is all going up because oil has actually moved up, TheStreets Jim Cramer states in the above video. You believe you cant miss on these. Be mindful.

He explains that in spite of the current uptick in shares, gas costs have however plunged to$1.76 after striking 17-year lows the other day.

Chesapeake is a natural gas producer based in Oklahoma City.

Cramer keeps in mind that one speculative play here isWPX Energy(WPX). AsReal Moneys Carleton Englishwritesin a short article this early morning, WPX EnergyCFO Kevin Vann stated on a conference call that financial obligation decrease was top priority primary for the business.

WPX Energy has redeemed$28 countless its 2017 notes at a discount rate which minimizes$400 million maturity by $96 million, English includes. The business must get $1.2 billion in money during the first half of 2016from the sale of its Piceance subsidiary and its San Juan Basin event system.

Individually, TheStreet Scores group rates the stock as a sell with a ratings score of D.

Chesapeake Energys weaknesses includeits degrading net earnings, normally high debt management threat, frustrating return on equity, weak operating money circulationcapital and normally frustrating historical performance in the stock itself.

You can see the complete analysis from the file here: CHK

Just recently, TheStreet Scores objectively ranked this stock according to its risk-adjusted overall return prospect over a 12-month investment horizon. Not based upon the news in any given day, the rating might differ from Jim Cramers view or that of this articles author.

CHK information by

Chesapeake Energy: 2017 Might Be A Huge Year For Debt Decrease, Guggenheim States

By Ben Levisohn

Guggenheim &’s Subash Chandra and Marshall Coltrain argue that &”2017 could be a huge year for debt reduction &” at Chesapeake Energy (CHK). They discuss:


Next Two Years Are About De-Levering by 30 % -50 %, In Our View. We think Chesapeake’s concerns are clear. We anticipate de-levering to remain the main objective till overall financial obligation levels are minimized to a sensible multiple of EBITDA. Asset sales will likely be used to retire financial obligation. The focus is on near-term maturities, which suggests that billions are required over the next 12-18 months to retire debt. $500mm to $1b of incremental possession sales this year beyond the $500mm (net) revealed will be earmarked for these maturities, in our view. De-levering will likely continue to be the focus up until Chesapeake lowers debt by $3- $4b (from $9b+ currently), at which point financial obligation would be a reasonable multiple of a stabilized EBITDA run-rate of $1 &– – $1.5 b (a challenging measure as asset sales will decrease EBITDA, however a price recovery and midstream renegotiations can compensate). Chesapeake’s success in monetizing possessions y-t-d integrated with the prospective to retire debt at reduced prices outdoors market, appears to have actually restored hope that de-levering can take location in a market trough.

2017 Might Be a Big Year for Financial obligation Reduction. $500mm of 3’s will be retired with readily available liquidity ($300mm money). The next wave of redemptions will remain in 2017, almost $2b stated value; $332mm of 6 1/4 %’s due January, $1.1 b of converts puttable May 15 and $450mm of 6’s due August. If possible, we believe Chesapeake may seek to purchase on the free market where the 6 1/4’s and 6’s are trading at 46 cents and 37 cents on the dollar, respectively. The converts are trading at 35 cents on the dollar. We’ll be tracking Chesapeake’s liquidity (cash on hand, possession sales) to evaluate the ability to effectively de-lever.

Shares of Chesapeake Energy have actually gotten 3.4 % to $2.78 at 9:48 a.m. today, even as the Energy Select SPDR ETF (XLE) has actually dropped 1.1 % to $56.26.

TTM Technologies, Inc. Annouces Partial Financial Obligation Prepayment

COSTA MESA, Calif., March 07, 2016 (GLOBE NEWSWIRE)– TTM Technologies, Inc. (Nasdaq: TTMI), a leading worldwide printed circuit board (PCB) producer, today revealed the principal payment of $74.1 million towards the $950 million Senior Safe Term Loan B that was made use of to finance the acquisition of Viasystems on Might 31, 2015.

As prepared, we were pleased to utilize a portion of the $118 million in totally free money flow that TTM produced in the 4th quarter of 2015 towards our objective of debt reduction as we remain to focus on deleveraging the balance sheet, said Todd Schull CFO of TTM.

About TTM

TTM Technologies, Inc. is a leading worldwide printed motherboard producer, focusing on quick-turn and highly advanced PCBs, backplane assemblies and electro-mechanical solutions. TTM represents time-to-market, representing how TTMs time-critical, one-stop production services enable customers to reduce the time needed to mature new products and bring them to market. Added info can be found at

Positive Statements

This release consists of forward-looking statements that associate with future occasions or performance. TTM warns you that such statements are merely predictions and actual occasions or outcomes might differ materially. These statements reflect TTMs mainstream expectations, and TTM does not undertake to update or change these forward looking statements, even if experience or future weather changes make it clear that any forecasted results revealed or indicated in this or other TTM statements will not be realized. Further, these statements involve dangers and unpredictabilities, numerousa number of which are beyond TTMs manage, which could cause actual resultsresult in vary materially from the positive statements. These dangers and unpredictabilities include, however are not limited to, the successful integration of Viasystems, foring example, the prepared plant mixes and closure, basic market and financial conditions, including interest rates, currency exchange rates and customer spending, demand for TTMs products, market pressures on prices of TTMs items, warranty claims, modifications in product mix, pondered substantial capital expenses and associated financing requirements, TTMs dependence upon a little number of consumers and other elements set forth in the Danger Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations areas of the Companys public reports submitted with the SEC.

Todd Schull, CFO

Source: TTM Technologies

Letter: Misinformation About County’s Financial Resources Is Spreading Out

False information about Stephenson County financial resources has actually been published smearing present finance committee members, some up for re-election.

The realities are independent-audit verifiable:

#x 2014; Millions in bond debt gotten rid of because 2013, some through payment in advance, resulting in Standard amp; Poor #x 2019; s raising Stephenson County #x 2019; s debt certificate rating from BBB- to A.Continued debt reduction in

2016. #x 2014; Offering take advantage of to lower interest rates when refinancing the prison financial obligation in 2017. #x 2014; No CPI increases for the 2015 and 2016 spending plans. #x 2014; Employee health insurance

restructured, conserving hundreds of thousands this year alone while including dental and vision protection. #x 2014; Capital budget produced to assure much better preparation for changing capital products like vehicles.The county obtains short-term for cash circulationcapital factors since home tax

profits is postponed 7 months into the financial year, not because the financing committee has actually suggested starting to pay for interfund loans.State law requires interfund loans to be repaid in the year sustained. The county has some going back to 2007. Paying some of them back as allocated this year will even more improve our bond rating, potentially causing tens of countless dollars in interest savings. The financing committee has actually implemented a favorable plan with results. Some letter authors bring challenge to themselves by misrepresenting these achievements. #x 2014; Dan Neal, Stephenson County District E Representative, Freeport