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Yahoo
01-07-2025
- Business
- Yahoo
AeroVironment Shares Plunge in Wake of Massive Funding to Slash Debt
July 1 - AeroVironment (NASDAQ:AVAV) said it plans to issue $750 million in common stock and $600 million of convertible senior notes due 2030 to shore up its balance sheet. The drone specialist intends to use the proceeds primarily to retire outstanding debt, with any remaining funds earmarked for general corporate purposes, including boosting manufacturing capacity. Warning! GuruFocus has detected 9 Warning Signs with AVAV. Shares slid more than 7% in Tuesday trading after the announcement, wiping out a portion of this year's gains. The stock had climbed about 85% since January, lifting AeroVironment's market value to roughly $13 billion ahead of the offering. Credit Suisse and J.P. Morgan are among the lead underwriters on the deal, which comes after AeroVironment closed its $4.1 billion acquisition of Blue Arc last month. The company said strong fourth?quarter results and a recent executive order to expand U.S. drone production have bolstered its outlook. Analysts say the move signals AeroVironment's focus on debt reduction ahead of further expansion, though investors will watch execution closely as the company scales up. This article first appeared on GuruFocus.
Zawya
01-07-2025
- Business
- Zawya
Liquidity is Africa's biggest trade obstacle
Trade moves on capital as much as it does on cargo, and yet liquidity – the unseen force that deter- mines who can trade, at what scale, and under what condi- tions – remains scarce, expensive, and structurally out of reach for many businesses on the continent. For decades, the primary constraint on African trade has been access to financing. Liquidity shortages – compounded by sovereign debt burdens and a persistent reliance on hard currency – continue to throttle intra-continental commerce. Even as the African Continental Free Trade Area (AfCFTA) aspires to integrate a market of over 1.3bn people, the reality is that trade flows remain disproportionately exter-nal, denominated in US dollars, and at the mercy of foreign exchange constraints. The result is a trade land- scape where too many African firms are positioned as price-takers rather than market-makers. The answer to this impasse will not be found in conventional trade finance structures alone. Supply chain finance, long viewed as a working capital tool, must now be understood as an essential component of trade strategy. The prevailing trade model keeps capi- tal concentrated at the corporate level, forcing suppliers to navigate funding gaps between delivery and payment. The burden of these delays falls dispropor- tionately on smaller suppliers, who either absorb the working capital strain or turn to expensive short-term credit. Supplier finance, a form of supply chain finance, eliminates this ineffi- ciency by aligning liquidity with trade activity, ensuring capital moves in step with commerce rather than being trapped in payment cycles. More signifi- cantly, it changes the terms under which liquidity is accessed. Instead of being priced against the supplier's financial strength – often a limiting factor – it is structured around the corporate anchor's credit profile, low- ering the cost of capital and expanding access to financing. By embedding financing into trade, supply chain finance ensures suppliers remain operational, reducing the risk of production delays or raw material short- ages. This allows businesses to stabilise supply networks without taking on ad- ditional credit exposure, reinforcing re- silience in an increasingly unpredictable trade environment. Greater awareness required Yet its full potential remains unrealised. Unlike in more developed markets, where these mechanisms are widely adopted, many businesses across the continent remain unfamiliar with how supplier fi- nance can provide working capital without the complexity of traditional credit. Limited awareness, fragmented financial infrastructure, and a lack of transparency around eligibility have restricted participation, leaving many businesses unable to integrate supplier finance into their financial strategies Consequently, supplier finance has largely remained concentrated among Tier 1 and Tier 2 suppliers – businesses with direct corporate relationships – while smaller sup- pliers further down the chain re- main financially constrained. Given that SMEs drive nearly 80% of Af- rica's economies, this imbalance is a structural limitation on trade. Expanding access requires deeper collaboration between corporates, banks, and development finance institutions to develop financing structures that allow liquidity to cascade through supply chains. Africa's ability to insulate itself from financial instability, sustain intra- continental commerce, and reduce its vulnerability to external shocks will hinge on how well liquidity circulates within its supply chains. Here, the continent can- not afford to remain reactive, reliant on external financial conditions to dictate the trajectory of its trade systems. Supply chain finance, deployed stra- tegically, offers a pathway to greater fi- nancial sovereignty, deeper trade inte- gration, and a more resilient economic future. What comes next is not a question of whether these solutions can work, but how quickly they can be integrated into the fabric of the continent's trade systems to ensure that liquidity is no longer an obstacle to growth, but a force that ac- celerates it. Michelle Knowles is Managing Executive, Trade and Working Capital (Pan-Africa); and Mosa Tshabalala, Head, Institutional Trade and DSI Sales, at Absa CIB Supply chain finance keeps suppliers operational, reduces the risk of production delays, and builds resilience in an increasingly unpredictable trade environment. © Copyright IC Publications 2022 Provided by SyndiGate Media Inc. (
Argaam
25-06-2025
- Business
- Argaam
BSF taps Asian banks for $750M loan: Report
Banque Saudi Fransi (BSF) is seeking a $750 million loan (about SAR 2.81 billion), targeting banks in Asia, with a five-year syndicated facility that carries an accordion feature, Bloomberg reported. The loan pays an interest margin of 95 basis points over the benchmark Secured Overnight Financing Rate, with proceeds for general corporate purposes. Banque Saudi Fransi (BSF) is seeking a $750 million (SAR 2.81 billion) loan, targeting banks in Asia as it looks to diversify fundraising beyond its domestic market, according to Bloomberg citing sources familiar with the matter. The five-year syndicated facility carries a so-called accordion feature, which allows the borrower to upsize the deal post-signing, said the sources. Mizuho Bank Ltd. and Sumitomo Mitsui Banking Corp are the mandated lead arrangers and bookrunners for the deal, they added.
National Post
17-06-2025
- Business
- National Post
SES Successfully Prices €1 Billion Dual-Tranche Bond Offering with Strong 5.5x Oversubscription
Article content LUXEMBOURG — NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Article content SES S.A. today announced the successful launch and pricing of a dual-tranche note offering in which the company has agreed to sell senior unsecured fixed rate notes under its €5,500,000,000 EMTN Programme (the 'Notes'). Settlement is expected to take place on 24 June 2025: Article content EUR 500 million of Notes will bear a coupon of 4.125% due in 2030. EUR 500 million of Notes will bear a coupon of 4.875% due in 2033. Article content SES is rated Baa3, negative outlook by Moody's and BBB, negative outlook by Fitch. Article content SES shall apply the net proceeds of the Notes towards its general corporate purposes, including, without limitation (i) financing all or part of the purchase price of the acquisition of Intelsat Holdings S.A. ('Intelsat' and Intelsat and its subsidiaries being the 'Intelsat Group') (the 'Acquisition') (including the payment of fees, costs and expenses in relation to the Acquisition) and/or (ii) refinancing existing indebtedness of the Group and/or (following closing of the Acquisition) the Intelsat Group. Article content Promptly following the Issue Date, SES intends to cancel the bridge facility in relation to the Acquisition in an amount at least equal to the net proceeds of the Notes. Article content SES also announces that, to further optimise the debt structure of the combined entity following the Acquisition, it intends to redeem (in aggregate) up to US$ 3 billion of the 6.500% First Lien Senior Secured Notes due 2030 issued by Intelsat Jackson Holdings SA ('SSNs') on, and conditional upon, closing of the Acquisition and settlement of the Notes. This will be achieved by the redemption of part or all of the SSNs in accordance with the optional redemption provisions governing the SSNs. Additionally, SES may from time to time conduct open market purchases of the SSNs. Article content Deutsche Bank and Morgan Stanley acted as Global Coordinators and Joint Bookrunners, together with Goldman Sachs International, ING, J.P. Morgan, Société Générale as Joint Bookrunners. The settlement is scheduled for 24 June 2025 and application has been made for the Notes to be listed on the Luxembourg Stock Exchange. The securities were placed with a broad range of institutional investors across Europe and Americas region. Article content The successful, pricing of €1 billion dual-tranche bond offering, provides SES enhanced financial flexibility which in combination with an existing strong balance sheet gives SES sufficient liquidity to cover upcoming maturities. This reflects SES's disciplined financial policy and commitment to investment grade metrics and sets the combined company on a strong footing for long-term balance sheet strength. Article content Sandeep Jalan, outgoing CFO of SES commented: 'We are delighted with the successful conclusion of this bond note offering, which reflects the market's strong confidence in SES as a quality investment grade credit. The impressive 5.5x oversubscription of the order book demonstrates the deep commitment of investors to SES's strategic vision and long-term value creation. With the anticipated closing of the Intelsat transaction in H2 of 2025, this marks the final step in our market access related to the financing of the Intelsat acquisition—an important milestone in our growth journey.' Article content Twitter Article content | Article content Facebook Article content | Article content YouTube Article content | Article content LinkedIn Article content | Article content Instagram Article content Read our Blogs > Article content Visit the Media Gallery > Article content About SES Article content SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous earth orbit (GEO) fleet and medium earth orbit (MEO) constellation of satellites, offering a combination of global coverage and high-performance services. By using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: Article content Article content Article content Article content Contacts
National Post
11-06-2025
- Business
- National Post
Canada Prepaid Card and Digital Wallet Market Intelligence Report 2025-2029: Open-Loop Cards Prepaid Financial Expansion, Corporate Shift to Prepaid Solutions Accelerates Financial Innovations
Article content Article content DUBLIN — The 'Canada Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook – Q2 2025 Update' report has been added to offering. Article content The prepaid card and digital wallet market in Canada is expected to grow by 6.7% on annual basis to reach US$ 26.26 billion in 2025. Article content The prepaid card and digital wallet market in the country has experienced robust growth during 2020-2024, achieving a CAGR of 11.1%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 5.6% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 24.63 billion to approximately US$ 32.61 billion. Article content The Canadian prepaid card market is expanding rapidly, driven by the increasing adoption of open-loop prepaid cards, digital wallet integration, and corporate utilization. As consumer demand for flexible and secure payment options grows, financial institutions and fintech companies are enhancing their offerings to meet evolving preferences. Businesses are also leveraging prepaid solutions to streamline financial management and incentivize employees, further solidifying the role of prepaid cards in the corporate sector. Article content Looking ahead, competition in the market is expected to intensify as digital payment infrastructure continues to evolve. Integrating prepaid cards with mobile wallets will offer enhanced convenience, while regulatory and technological advancements will drive further innovation. Companies prioritizing strategic partnerships, digital advancements, and regulatory compliance will be best positioned to capitalize on the expanding opportunities within Canada's prepaid card industry. Article content Competitive Landscape of the Canada Prepaid Card Market Article content The Canadian prepaid card market is set for sustained expansion, driven by increasing consumer demand for digital payment solutions and corporate adoption. The presence of established financial institutions, fintech players, and new entrants introducing innovative prepaid solutions is fostering a highly competitive environment. Strategic partnerships and mergers also contribute to market consolidation, enhancing the availability and accessibility of prepaid card products across multiple sectors. Article content Regulatory changes and technological advancements will further shape the competitive landscape in the coming years, encouraging transparency and fostering innovation. The Bank of Canada's initiative to regulate payment service providers will strengthen security and increase provider competition. Businesses prioritizing digital integration, compliance with evolving regulations, and customer-centric prepaid solutions will be well-positioned to capitalize on emerging opportunities within Canada's growing prepaid card market. Article content Current Market Dynamics Article content Canada's prepaid card market is experiencing significant growth, driven by increasing consumer demand for flexible payment solutions and the rise of digital wallets. The market encompasses open-loop cards, which can be used anywhere the card network is accepted, and closed-loop cards, limited to specific merchants or services. Open-loop cards have seen swift adoption, with ownership steadily rising and contributing to increased transaction volumes. This expansion is further supported by Canada's high credit card penetration, which exceeded 82% last year, enhancing user purchasing power. Additionally, as employment levels rise, more Canadians gain access to the banking system, further amplifying the market reach of prepaid cards. Article content The Canadian prepaid card market features a mix of established financial institutions and emerging fintech companies. Prominent players include Berkeley Payment Solutions, Blackhawk Network, Carta Worldwide, and Desjardins, each offering various prepaid products tailored to various consumer and corporate needs. In recent years, new entrants have introduced innovative prepaid solutions to cater to evolving consumer preferences. For instance, fintech firms like Koho have launched reloadable prepaid cards linked to mobile apps, providing users with budgeting tools and real-time transaction notifications. Article content Canada Prepaid Payment Instrument Market Size and Forecast Article content Canada Digital Wallet Market Size and Forecast Article content Retail Shopping (Value, Volume, Avg. Value) Travel (Value, Volume, Avg. Value) Restaurant (Value, Volume, Avg. Value) Entertainment and Gaming (Value, Volume, Avg. Value) Recharge and Bill Payment (Value, Volume, Avg. Value) Article content Canada Digital Wallet Retail Spend Dynamics Article content Food and Grocery – Transaction Value Health and Beauty Products – Transaction Value Apparel and Foot Wear – Transaction Value Books, Music and Video – Transaction Value Consumer Electronics – Transaction Value Pharmacy and Wellness – Transaction Value Gas Stations – Transaction Value Restaurants & Bars – Transaction Value Toys, Kids, and Baby Products – Transaction Value Services – Transaction Value Others – Transaction Value Article content Canada Prepaid Card Industry Market Attractiveness Article content Load Value Trend Analysis Transaction Value Trend Analysis Transaction Volume Trend Analysis Average Value per Transaction Number of Cards Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop Market Share Analysis by Prepaid Card Categories Article content Canada Open Loop Prepaid Card Future Growth Dynamics Article content Transaction Value Trend Analysis Transaction Volume Trend Analysis Average Value per Transaction Number of Cards Article content Canada Closed Loop Prepaid Card Future Growth Dynamics Article content Transaction Value Trend Analysis Transaction Volume Trend Analysis Average Value per Transaction Number of Cards Article content Canada Prepaid Card Consumer Usage Trends Article content By Age Group By Income Group By Gender Article content Canada Prepaid Card Retail Spend Dynamics Article content Food and Grocery – Transaction Value Health and Beauty Products – Transaction Value Apparel and Foot Wear – Transaction Value Books, Music and Video – Transaction Value Consumer Electronics – Transaction Value Pharmacy and Wellness – Transaction Value Gas Stations – Transaction Value Restaurants & Bars – Transaction Value Toys, Kids, and Baby Products – Transaction Value Services – Transaction Value Others – Transaction Value Article content Canada General Purpose Prepaid Card Market Size and Forecast Article content Canada Gift Card Market Size and Forecast Article content Gift Card Market Size and Forecast by Functional Attribute Article content By Open Loop Gift Card By Closed Loop Gift Card Article content Gift Card Market Size and Forecast by Consumer Segments Article content By Retail Consumer Segment By Corporate Consumer Segment Article content Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute Article content By Open Loop Teen and Campus Prepaid Card By Closed Loop Teen and Campus Prepaid Card Article content Canada Business and Administrative Expense Prepaid Card Market Size and Forecast Article content Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments Article content By Small Scale Business Segment By Mid-Tier Business Segment By Enterprise Business Segment By Government Segment Article content Canada Payroll Prepaid Card Market Size and Forecast Article content Payroll Prepaid Card Market Size and Forecast by Consumer Segments Article content By Small Scale Business Segment By Mid-Tier Business Segment By Enterprise Business Segment By Government Segment Article content Canada Meal Prepaid Card Market Size and Forecast Article content Meal Prepaid Card Market Size and Forecast by Consumer Segments Article content By Small Scale Business Segment By Mid-Tier Business Segment By Enterprise Business Segment By Government Segment Article content Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments Article content By Retail By Small Scale Business Segment By Mid-Tier Business Segment By Enterprise Business Segment By Government Segment Article content Canada Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast Article content Canada Fuel Prepaid Cards Market Size and Forecast Article content Canada Virtual Prepaid Card Industry Market Attractiveness Article content General Purpose Prepaid Card – Transaction Value Gift Card – Transaction Value Entertainment and Gaming Prepaid Card – Transaction Value Teen and Campus Prepaid Card – Transaction Value Business and Administrative Expense Prepaid Card – Transaction Value Payroll Prepaid Card – Transaction Value Meal Prepaid Card – Transaction Value Travel Forex Prepaid Card – Transaction Value Transit and Tolls Prepaid Card – Transaction Value Social Security and Other Government Benefit Programs Prepaid Card – Transaction Value Fuel Prepaid Cards – Transaction Value Utilities, and Other Prepaid Cards – Transaction Value Article content Key Attributes: Article content Report Attribute Details No. of Pages 159 Forecast Period 2025 – 2029 Estimated Market Value (USD) in 2025 $26.26 Billion Forecasted Market Value (USD) by 2029 $32.61 Billion Compound Annual Growth Rate 5.6% Regions Covered Canada Article content For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Article content Article content Article content Article content Article content Contacts Article content Article content
