LONDON is press...press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.Assured Guaranty completes the first monoline financial guarantee transaction in Europe since the beginning of the global credit crisis
LONDON announced today that, together with its indirect parent Assured Guaranty Municipal Corp. ("AGM" and, together with AGE, “Assured Guaranty”), it provided a financial guarantee with respect to a UK Private Finance Initiative (“PFI”) bond issue, originally issued by Worcestershire Hospital SPC Plc on March 31st 1999 to raise £97.2 million to finance the construction and operation of the Worcestershire Royal Hospital.
Callcredit and miiCard announce a strategic relationship to provide the UK's first true consumer focused identity verification service, combining robust credit bureau verification checks and strong impersonation protection which will change the way financial products are sold on-line.
The need to validate and verify identity without causing unnecessary intrusion on genuine customers is becoming ever more vital in the way we conduct business. Combining the need to meet regulatory requirements, reduce operational costs and stop fraud whilst providing a good customer experience is key to the success of many businesses trading on-line.
The combined capability of Callcredit's award winning data based electronic verification solutions combined with miiCard's anti-impersonation technology will provide an unrivalled level of protection and convenience for consumers and companies wanting to do business with each other.
Blending the identity validation and authentication services of miiCard with the consumer data and identity verification services of Callcredit will create a new kind of online identity service that not only provides convenience for the consumer but cost savings, fraud protection and increased conversions for in the industry.
Assured Guaranty replaced the original guarantor, Ambac Assurance UK Limited, in order to enhance the creditworthiness of the bonds. As the guarantor, Assured Guaranty guarantees timely payment of scheduled principal and interest to bondholders, throughout the life of the bond, which matures in 2030.
administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy, LLC, a leading Hispanic-owned community drug store retailer in the U.S. The financing will be used to refinance debt and for general corporate purposes.
Founded in 1960, Miami, Florida-based Navarro Discount Pharmacy, LLC, is the largest Hispanic-owned retail drug chain in the U.S. with thirty stores in South Florida. Catering to the Hispanic market, Navarro’s stores feature an array of consumer goods including fragrances, electronics, health and beauty care, food and household products.
“GE Capital understands retailing and has a great deal of experience financing drug stores,” said Juan Ortiz, chief executive officer of Navarro Discount Pharmacy, LLC. “This allowed us to secure the right capital structure to help build our business.”
“Providing growth capital to retailers is one of our specialties,” said Jim Hogan, senior managing director, GE Capital, Corporate Retail Finance. “Working with clients to understand their needs and structuring smarter financing to fuel their plans is what we do.”
About GE Capital, Corporate Retail Finance
GE Capital, Corporate Retail Finance is a leading provider of senior secured loans to retailers, primarily in the U.S., to support working capital, growth, acquisitions and more. Funding may be provided through GE Capital, Corporate Retail Finance’s affiliate, GE Capital Financial Inc., member FDIC. With Access GE, clients also benefit from access to GE’s best practices. Visit gelending.com/clnews.
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