Equipment Lease and Finance Company LeaseQ Touts a Sustained Economic Recovery Citing Rising Confidence and Lease Rate Declines in All Credit ClassesLeave a comment
August 13, 2013 by apicomely
Muthoot Finance files draft paper with Sebi to raise Rs 300 cr
The report stated that confidence in the equipment finance market increased to 59.4, a rise from the June index of 57.3, which reflects the industrys increasing optimism. More specifically, 24% of executives responding to the survey believe there will be continuing improvement in business conditions of the next four months and increase in optimism form 19.4% in June, with 71.9% believing business conditions will remain largely the same over those same four months. In an economic recovery, leasing and financing of capital equipment is viewed by analysts as an important indicator for continued business confidence and economic recovery. The increase in demand for equipment leasing that LeaseQ sees across the thirty-plus sectors it serves is further positive affirmation of a sustained recovery.
The NCD issue aims at aggregating up to Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore, as per draft prospectus filed with Sebi showed. “Public issue by our company of NCDs aggregating up to Rs 1,500 million with an option to retain over-subscription up to Rs 1,500 million for issuance of additional NCDs aggregating to a total of up to Rs 3,000 million,” it added. Funds raised through this issue would be used for financing activities, including lending and investments, besides utilising them to repay existing loans, capital expenditure plans and to meet working capital requirements, the company said. ICICI Securities is the lead managers to the issue, while Link Intime India is registrar to the issue. Muthoot Finance, is one of the largest gold financing company in India, with a market share of over 20 per cent as of March 31, 2012.
First Trust Specialty Finance and Financial Opportunities Fund Increases its Quarterly Distribution to $0.17 Per Share
The ex-dividend date is expected to be August 21, 2013. The quarterly distribution information for the Fund appears below: First Trust Specialty Finance and Financial Opportunities Fund (FGB): Distribution Rate (annualized) based on the August 8, 2013 NAV of $8.21: 8.28% Distribution Rate (annualized) based on the August 8, 2013 closing market price of $8.05: 8.45% Increase from previous distribution of $0.165: 3.03% A portion of the distribution may be treated as paid from sources other than net investment income, including short-term capital gain, long-term capital gain and return of capital. The final determination of the source and tax status of all distributions paid in 2013 will be made after the end of 2013. The Fund is a non-diversified, closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide attractive total return.