Press release content from Business Wire. The AP news staff was not involved in its creation.
TechnipFMC Announces Record and Distribution Dates for Separation into Two Industry-leading, Independent, Publicly Traded Companies
February 4, 2021 GMT
Regulatory News:
TechnipFMC plc (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) today announced the timing and details regarding its previously announced separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player (“Technip Energies”). The transaction is structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment in the form of a share dividend pursuant to which holders of TechnipFMC shares will receive shares of Technip Energies (the “Spin-off”).
Corporate bond issuers urged to quickly end link to LIBOR
Bloomberg
The Bank of England in London. U.K. companies are being encouraged to transition their bonds from LIBOR.
Managers in the U.K. called on corporations that issue bonds in pound sterling to expedite the transition away from LIBOR, which will be phased out Dec. 31.
About £108 billion ($147.7 billion) of bonds linked to the London interbank offered rate have yet to transition to a new benchmark rate, the Investment Association said in a letter Wednesday to FTSE 350 companies.
Companies should immediately transition the benchmark rate for their bonds from LIBOR to one of the recommended risk-free rates, the letter said. One example of a risk-free rate is the sterling overnight interbank average rate, known as SONIA.
TechnipFMC plc: Technip Energies Capital Markets Day - The Creation of a Leading Engineering & Technology Company for the Energy Transition
Robust balance sheet and liquidity position
High return on invested capital potential; long-term dividend policy target
2021 guidance provided under adjusted IFRS framework
Regulatory News:
TechnipFMC (NYSE:FTI) (Paris:FTI) (ISIN:GB00BDSFG982):
ADVERTISEMENT. This announcement is an advertisement relating to the intention of the Company (as defined below) to proceed with the listing and admission of shares in Technip Energies (the Shares ) on Euronext Paris (the Listing ). This announcement does not constitute a prospectus.
If and when the Listing is launched, further details about the Listing will be included in a prospectus to be published by the Company in relation to the Listing (the Prospectus ). Once the Prospectus has been approved by the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markte
Press release content from Business Wire. The AP news staff was not involved in its creation.
Piper Sandler Expands Investment Banking with the Hiring of Treavor Hill
January 26, 2021 GMT
MINNEAPOLIS (BUSINESS WIRE) Jan 26, 2021
Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Treavor Hill as a managing director within the firm’s investment banking group. He will focus on the automotive and commercial vehicle aftermarkets and will be based in the firm’s Minneapolis office.
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Hill has over 10 years of investment banking experience focused on the aftermarket, executing both M&A advisory and growth/buyout financings. Prior to joining Piper Sandler, Hill was a senior vice president within the automotive aftermarket investment banking group at Jefferies. Prior to that, he was a vice president within the automotive aftermarket banking group at BB&T Capital Markets. Earlier in his career, Hill held various leaders
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U.K. high court extends reach of business interruption coverage for policy holders – What do U.S. insurers need to know? Tuesday, January 26, 2021
Last week, the United Kingdom’s Supreme Court issued a landmark ruling (the “Judgment”) analyzing the extent to which business interruption coverage applies to losses caused by the 2019 novel coronavirus (COVID-19) pandemic and resulting government restrictions. In a ruling that bucked the trend of most American decisions on the topic, the U.K. Supreme Court found that some losses caused by COVID-19 and consequent local or national restrictions should be covered by business interruption coverage.
The FCA Ruling