Category Archives: Bonds

Digi Romania Completes Full Redemption of 2025 Bonds

BUCHAREST, Romania, 30-Sep-2024 — /EuropaWire/ — Digi Communications N.V. (“DIGI”), a major European telecommunications company listed on the Bucharest Stock Exchange, has successfully completed the full redemption of its €450 million Senior Secured Notes. The redemption was finalized on 27 September 2024, following an earlier announcement made on 16 September 2024, which outlined the company’s intention and fulfillment of the necessary financial conditions. The notes, carrying a 2.5% interest rate and originally set to mature in 2025, were fully redeemed by Digi Romania S.A., the company’s Romanian subsidiary.

About Digi Communications N.V.

Digi Communications N.V. is a leading European telecommunications provider, with a significant presence in Romania and Spain, and operations in Italy, Portugal, and Belgium. The company is a top player in delivering telecommunication services, offering innovative solutions across its targeted geographic markets.

SOURCE: EuropaWire

Digi Romania Exercises Early Redemption of 2025 Bonds

BUCHAREST, Romania, 16-Sep-2024 — /EuropaWire/ — Digi Communications N.V., a prominent European telecommunications provider, has announced that its Romanian subsidiary, Digi Romania S.A., will redeem the entirety of its outstanding €450 million 2.50% Senior Secured Notes, set to mature in 2025. The full redemption, scheduled for September 27, 2024, will involve paying noteholders the principal amount along with accrued interest up to the redemption date. This move marks an important financial milestone for Digi Communications as it continues to strengthen its financial position.

The company has outlined that noteholders must be recorded by September 26, 2024, to be eligible for the redemption payout. Citibank N.A., London Branch, will act as the Paying Agent to facilitate the process, with interest on the Notes ceasing to accrue after the redemption date unless the issuer defaults on the payment. Digi Communications has already fulfilled the financing conditions required for this redemption, ensuring a smooth process for all stakeholders.

Digi Communications, a major player in the telecom industry, offers services primarily in Romania and Spain, with expanding operations across Italy, Portugal, and Belgium. This latest financial development underscores the company’s robust growth and operational stability in the European telecom sector.

SOURCE: EuropaWire

RCS&RDS successfully closed its €850.0 million senior secured notes offering due 2025 & 2028

BUCHAREST, Romania, 5-Feb-2020 — /EPR FINANCIAL NEWS/ — Digi Communications N.V. hereby reports successful closing of the offering of senior secured notes by RCS & RDS S.A., its Romanian subsidiary (“RCS&RDS”).

1. CLOSING OF THE OFFERING
The Company (Digi Communications N.V.) would like to inform the market and its investors that on 5 February 2020, RCS&RDS has successfully closed the offering (the “Offering”) of its (i) €450.0 million 2.50% senior secured notes due 2025 and (ii) €400.0 million 3.25% senior secured notes due 2028 (collectively, the “Notes”).

The Notes are expected to be listed on the Official List of the Irish Stock Exchange (trading as Euronext Dublin) and trading on its regulated market. The final offering memorandum dated 29 January 2020, together with the supplement dated 4 February 2020 will be made available on the Company’s website on or about today. A prospectus relating to the Notes will be made available on the website of the Company following its approval by the Central Bank of Ireland.

For further information in relation to the Offering and the Notes, please refer to the reports dated 27 January 2020 and 29 January 2020, each available at http://bvb.ro/FinancialInstruments/SelectedData/NewsItem/DIGI-Oferta-obligatiuni-RCS-RDS-in-val-de-800mil-EURO-si-ajustare-sit-fin-Q3-2019/8A562 and http://bvb.ro/FinancialInstruments/SelectedData/NewsItem/DIGI-Digi-anunta-suplimentarea-si-incheierea-ofertei-de-obligatiuni-de-catre-RCS-RDS/B3A8D.

2. CHANGE OF AGENT
The Company would like to inform the market and its investors that all Deutsche Bank entities that originally were expected to act in various agent capacities for the Offering were replaced with Citi Bank entities as follows:

  • Citibank, N.A., London Branch will act as the Principal Paying Agent and the Transfer Agent; and
  • Citigroup Global Markets Europe AG will act as the Registrar,

in each case as defined in the final offering memorandum relating to the Offering dated 29 January 2020.

3. SATISFACTION OF THE FINANCING CONDITION
With reference to the Notice of Conditional Full Redemption in relation to the Company’s €550,000,000 5.00% Senior Secured Notes due 2023 (the “2023 Notes”) dated 27 January 2020, the Company would like to inform the market and its investors that the Financing Condition (as defined in such notice) has been satisfied and the 2023 Notes will be redeemed in full on 6 February 2020.

This announcement is not an offer of securities for sale in the United States. The Notes may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act. Any securities mentioned herein have not been and will not be registered under the U.S. Securities Act, and no public offering will be made in the United States.

SOURCE: EuropaWire

R.W. Chelsea Holdings Ltd mandated BMI International Europe Limited as Sole Global Coordinator to arrange a series of fixed income investor meetings in Europe

R.W. Chelsea Holdings Ltd mandated BMI International Europe Limited as Sole Global Coordinator to arrange a series of fixed income investor meetings in Europe

LONDON, 11-Feb-2019 — /EPR FINANCIAL NEWS/ — R.W. Chelsea Holdings Ltd (the “Issuer”), has mandated BMI International Europe Limited as Sole Global Coordinator to arrange a series of fixed income investor meetings in Vienna, Zurich, Geneva and London, commencing on 11 February 2019.

The road show will be starting in Vienna on the 11th, following Zurich on 12th, Geneva on 13th and the European part will be finished in London on the 14th-15th. This will be followed by investor meetings in Hong Kong and Singapore on the 19th-22nd of February.

A proposed Regulation S only offering of Euro-denominated Global notes (the “Global Notes”) of the Issuer will follow, subject to market conditions and investors’ interest. The Global Notes are expected not to be rated. FCA / ICMA stabilization applies.

SOURCE: EuropaWire

Alliance News IS si rivolge agli investitori, consulenti, società che lavorano e investono in Italia

LONDRA, Feb-27-2017 — /EPR FINANCIAL NEWS/ — Alliance News Limited annuncia oggi, giovedì 27 febbraio il lancio dell’Alliance News Italian Service – “Alliance News IS” – un servizio specializzato nel fornire notizie in tempo reale su aziende e società italiane, finanza ed economia.

Alliance News IS amplia la vasta gamma di servizi già messi a disposizione da Alliance News che, sin dalla sua nascita nel 2013, l’hanno resa newsroom d’eccellenza per il mercato azionario di Londra.

Come l’altro prodotto gemello destinato al pubblico britannico, Alliance News IS è un servizio attivo 24 ore, è il primo prodotto in assoluto in Italia che garantisce una copertura delle notizie finanziarie 24 ore su 24 con notizie e flash durante la notte dai mercati statunitensi ed asiatici. Inoltre, la redazione di Alliance News IS apre alle 07:30 ora italiana, mezz’ora prima degli altri servizi dello stesso tipo.

Alliance News IS si rivolge agli investitori e ai consulenti professionali, come anche alle società che lavorano e investono in Italia. La mission di Alliance News IS è quella di fornire una copertura dettagliata e in tempo reale di tutte le aziende quotate a Piazza Affari. A questo si aggiunge la capacità di informare i propri lettori a 360 gradi, delineando il panorama politico ed economico italiano ed internazionale in cui le news sulle società e i trend di mercato vanno ad inserirsi, fornendo commenti politici e aggiornamenti sulle decisioni delle banche centrali.

Il servizio offerto da Alliance News IS si compone di tre prodotti in lingua italiana, focalizzati sull’Italia e pubblicati dal nostro team: Alliance News IS Professional, Alliance News IS International e Alliance News IS Top.

Come per il servizio destinato al Regno Unito, Alliance News IS è completata da due notiziari, perfettamente integrati, prodotti in lingua inglese dal nostro partner dpa-AFX, che opera dalla Germania. L’offerta di Alliance News IS comprende dunque anche dpa-AFX International ProFeed e dpa-AFX International Compact, che insieme ai suoi prodotti in italiano danno ai suoi partner distributivi la possibilità di offrire agli abbonati una gamma completa di servizi di informazione.

Alliance News IS è disponibile attraverso i suoi partner distributori, come aziende di market- data, news aggregator, piattaforme di informazione e siti web specializzati nel trading.

Alliance News IS viene prodotta dalla redazione di Alliance nella city di Londra, da un team di giornalisti italiani che lavora fianco a fianco con la squadra di reporter di lingua inglese per garantire una copertura in tempo reale delle notizie più rilevanti per i mercati di tutto il mondo. Questa prospettiva internazionale sul mercato italiano viene completata da approfondimenti scritti direttamente dall’Italia, in grado di fornire un’analisi con un angolo più locale e specifico.

Tom Waite, Direttore e CEO di Alliance News ha commentato:
“Alliance News IS rappresenta lo step successivo più logico per Alliance News. Dopo aver costruito la nostra reputazione e credibilità nel Regno Unito grazie alla rapidità, la coerenza e la qualità dei nostri servizi d’informazione, vogliamo adesso diffondere i nostri alti standard in nuovi mercati. Il mercato finanziario italiano ha caratteristiche molto simili a quelle del mercato UK, essendo caratterizzato da un buon numero di aziende forti, cresciute sul territorio, e nello stesso tempo da una concreta apertura agli scambi e agli investimenti con il resto del mondo. Inoltre anche in Italia c’è un mercato AIM di piccole aziende ad alta crescita di cui i giornalisti di Alliance News amano scrivere”.

SOURCE: EuropaWire

Virgin Money Launches New Fixed Rate ISAs And Fixed Rate Bonds

Virgin Money has launched new issues of its popular fixed rate bond and fixed rate cash ISA range. The accounts offer customers a competitive rate, combined with certainty of returns for either one or three years. Accounts are available through Northern Rock branches, online, by post and over the telephone, and interest rates are the same through all distribution channels. ISA customers receive the same rates as those with a non-ISA account.

The Virgin fixed rate ISA offers customers a rate of 3.30% for one year (issues 9 &13) and 3.60% for three years (issues 10 & 14) respectively. This matches the rate available for a non-ISA savings account and savers also benefit from the tax-efficiency of the ISA wrapper. These accounts allow transfers in from existing ISAs. Customers can withdraw subject to a charge equivalent to 60 and 120 days’ loss of interest respectively.

The one year Virgin fixed rate bonds offer customers a fixed rate of 3.30%, while the three year Bond pays 3.60% per annum. Accounts can be opened with a minimum deposit of just £1, and additional deposits can be made into the bonds during the offer period, up to a maximum of £2 million per customer. Interest can be paid annually, or for those who prefer a monthly option, on the last day of the month (available first business day of the following month). Customers choosing to receive their interest monthly receive the same AER as those receiving annual interest.

The Bonds are non-redeemable and do not allow any withdrawals or closure during their respective fixed rate periods. They are strictly limited issues and may be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits can be made into existing accounts. Upon maturity the account will become a no notice matured bond account and investors will be notified in writing upon maturity of the interest rate payable.

More information on Northern Rock’s savings range is available at www.northernrock.co.uk/savings

Via EPR Network
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Constantly Improving its Trading Facilities, OFM Group Unveils New Program

OFM Group announced a new Program, to consolidate the platform supporting its International Services, which will be brought online starting March 2012. The platform is now host to a number of new migrants, and more are planning to move aboard.

Building and capitalizing on OFM Group’s leadership in processing orders, the new Program boasts of an end-to-end solution that provides confirmation control, reporting and settlements, capture and lifecycle management. A wide range of products can be accessed online by clients across multiple asset classes.

“New connectivity, reporting and timing issues have to be addressed by clients by reviewing their current infrastructure as the market undergoes constant change,” remarked Beatrice Bloomfield, International Services Executive for OFM Group.“Customers need to manage their portfolios on a larger scale, and with greater control, while keeping costs associated with processing low. Our new program is highly scalable and will provide direct customer access via a web front end.”

Ever since OFM Group acquired its web based platform, the Company has been making key investments to develop it, leading to its perpetual improvement. The platform has received numerous awards. There are 3460 clients live who are on the platform, and more clients are coming aboard in the span of the coming months.

OFM Group is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at OFM Group, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

Via EPR Network
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OFM Group announced the hiring of Steven Cartridge as Chief Officer for Technologies

OFM Group announced the hiring of Steven Cartridge as Chief Officer for Technologies. Mr. Cartridge has fifteen years of experience in technologies, having worked with major firms that capitalize on financial services.

“OFM Group’s position as a global market strategist is harped on by having the latest technology to support our activities,” said Gabriel Sanders, managing director of OFM Group. “Steven Cartridge has established himself as an exemplary manager of IT talents and will have no problems keeping abreast with broking cutting-edge products and tools. He is tailor-fit to supervise our IT platform, which has taken on far-reaching, global proportions, and will ensure that it will remain as the standard the industry is measured by,” he added. Mr. Cartridge holds a Bachelor of Science degree in Business Administration and is active in various charities, including domestic violence, lung cancer and animal rescue.

In his keynote speech, Mr. Cartridge said, “It is with great humility that I accept this appointment to become a member of OFM Group’s ever-growing team. With this appointment comes a resolve on my part to make every effort count in keeping the company on the pulse of technologies as they change the way we do business, and ultimately our lives. I am elated to be part of this company, and will look forward to working with all of you in pursuit of our goals and meeting the challenges that the technological landscape brings to us.”

OFM Group is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at OFM Group, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

Via EPR Network
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OFM Group Silver outlook bullish for 2011 and into 2012

This year worldwide silver investment demand is expected to reach a value of $10bn on a net basis for the first time in history. A new OFM Group report, commissioned by The Tokyo Silver Institute, forecasts silver investment will achieve yet another historically high total this coming year in spite of a significant level of position unwinding by institutional investors.

In the report, OFM Group says the outlook for silver prices remains bullish, “with the potential of prices nearing, if not exceeding, the $45/oz, a realistic prospect as the first quarter develops.”

“However, should silver exceed $45,” the report cautioned, “Some unwinding may occur, principally of institutional positions, given their focus on upside potential. This raises the possibility of some deleveraging in the future markets.”

However, the study noted, “this should have little impact on silver’s safe haven qualities, with the potential for retail and high-net-worth investors to raise their asset allocation in favor of both silver and gold.”

This situation “argues well for bullion coin and small bar demand, not only in western markets, but also in India and China.” Indian physical investment demand could comfortably exceed 45 million ounces this year, up from 29 million ounces last year.

“Overall, therefore, world investment demand in 2012 is expected to realize a near record high total in volume terms,” the report predicted, and “in value terms likely to reach $10bn on a net basis for the first time.”

The study found the principle investment vehicles for retail investors remains ETFs and physical bars and coins. Along with growing physical silver demand, investor interest in silver futures traded on future exchanges has also increased.

Nevertheless, 2011 investor activity in silver futures “has been notably volatile,” according to the report.

Meanwhile, total silver ETFs holding have lost some ground. By the end of October, total holdings were reported at 577 million ounces, some 44 million ounces below the record peak of 621 million ounces established in April of this year.

The OFM Group study determined the U.S. and Germany dominated the global physical investment market. “This year a fresh peak will be set, in excess of 41 Moz., which will therefore achieve a similar gain to the 20% improvement posted in 2010.

In Canada, the market is dominated by sales of the locally produced 1oz Maple Leaf bullion coin. Sales of the coins rose by over 50% in 2010 with a further substantial increase anticipated this year.

Although China’s silver demand is considered still in its infancy, concerns about inflation, together with still robust price expectations, suggest a bullish outlook for Chinese investment demand over the remainder of this year, the OFM Group report suggested.

In India, total silver demand is expected to exceed 45 million ounces this year, a 55% increase over 2010.

The report identified the top five silver producers as BHP Billiton, 46.6 Moz in 2010; Fresnillo, 38.6 Moz; KGHM PolskaMiedz, 37.3 Moz; Pan American Silver, 24.3 Moz; and Goldcorp, 23 Moz.

“Given that only a relatively small percentage of annual world silver production is derived from primary silver producer,” the report observed, “it is of little surprise to learn that the market features a modest number of primary silver companies.”

Meanwhile, for investors seeking a pure play upon silver there are streaming companies such as Silver Wheaton with a market cap of $11 billion.

The study found world silver fabrication (not including coins) this year is expected to achieve its highest total since 2007. “However, this will be offset by a health rise in global mine production.”

“As a result, we expect this year to generate a silver market surplus not dissimilar to the 2010 total of 190 million ounces,” predicted OFM Group. “In other words, the surplus should remain at near record highs, against the far more modest levels seen in the mid-2000s.”

“In value terms, the forecast surplus for 2011 is even more noteworthy, at an estimated US$7.5 billion, nearly double the positive in 2010 (which itself was a record level),” the report observed. “In spite of this hefty surplus, silver prices, in broad measure, strengthening further this year, pointing to, at times, still robust levels of investors demand, which has effectively ‘stepped in’, as occurred in 2009 and 2010, to absorb this excess metal.”

OFM Group is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at OFM Group, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

Via EPR Network
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OFM Group Announced Today That Joel Qin Hsiung Was Promoted To Counsel General, Effective First Quarter 2012

Mr. Hsiung, who joined OFM Group as Associate Counsel General in 2009, will be managing the Company’s legal affairs on a global basis, with accountability for corporate litigation, human resources, contract negotiation and labour relations, and outside counsel relationships. He takes the place of Francis Peters, the Company’s previous Counsel General who had been promoted as Chief Officer for Legal Affairs early this month.

“In his colourful tenure as Associate Counsel General, Joel’s experience, leadership attributes, and tried-and-tested track record in legal affairs deftly handling all differing aspects of OFM Group’s legal needs have become an unquestionable asset to the company,” said Mr. Peters. “He has earned the accolades and respect of OFM Group’s management and its workforce, and is perfect for the position of Counsel General, he continued.

Mr. Hsiung joined OFM Group, after he has worked for more than two decades, lastly as counsel in its Corporate Litigation group. He earned his undergraduate degree with honours and distinctions from the University School of Law, where he was a member of its Law Review Board for two years.

“In the wake of this, my appointment to the helm of one of the largest financial institutions in this part of the world, I am one happy man,” Hsiung said. “Working with OFM Group in meeting the business landscape’s ever-changing legal issues head-on is my No.1 priority, and I will be working with you to see that end,” he added.

OFM Group is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

The highlights of our services include highly professional customer service, secure and stable financial status, competitive rates, real time quotes, accuracy and speed of execution. We take pride in our advisors who have been trained and honed by education and experience. Here at OFM Group, we know and understand that the company you trade with can make the difference between profit and loss so we invest in the best of everything—manpower, technologies, facilities and security systems.

OFM Group is dedicated to providing clients with all-inclusive trading support, market research and advice and the finest futures trading and options advisory services available in the market. Our futures specialists are armed with the necessary knowledge and experience to help clients succeed in trading markets such as currencies, energies, precious metals and even grains.

Via EPR Network
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Virgin Money launches new ‘early bird’ ISA service

Virgin Money has launched a new ‘early bird’ ISA service for savers. By opening an Early Bird ISA Feeder, customers can use the service to start earning interest on next year’s ISA allowance now – without having to wait for the new tax year to start in April. The Early Bird ISA Feeder offers a competitive interest rate of 3.57% gross**/AER***, or 2.85% net, giving savers the same return as Virgin Money’s current variable cash ISA. The interest rate is fixed until 5 April 2012, following which the funds will automatically transfer into an Early Bird ISA for the new tax year.

The Early Bird ISA is a variable rate instant access cash ISA, paying 2.85%. This attractive headline rate offers good value for customers and it does not include a short term introductory bonus.

Accounts are available to open through Northern Rock branches, by post or by telephone, and savers can invest between £1 and the new 2012/13 cash ISA limit of £5,640.

Anthony Mooney, Mortgage and Savings Director at Virgin Money said: “Our new early bird ISA service means customers can take the hassle out of arranging their ISA for the next tax year by sorting it out early. Savers can earn an attractive interest rate between now and the start of the new tax year in our Early Bird ISA Feeder, safe in the knowledge that their money will automatically transfer into a tax-free ISA account in April.”

Interest earned on the Early Bird ISA Feeder will be paid to a nominated account on 5 April 2012, and does not allow any withdrawals or closure until the new tax year. Additional deposits can be made to the Early Bird ISA Feeder until 30 March 2012 up to a maximum of £5,640 per account. Once the funds have transferred into the Early Bird ISA, withdrawals can be made without notice, and additional deposits and transfers in from existing ISA accounts are permitted within HMRC regulations.

The Virgin Early Bird ISA Feeder and Virgin Early Bird ISA are personal deposit accounts with Northern Rock plc. The Financial Services Compensation Scheme (FSCS) provides protection to customers with these accounts under Northern Rock plc’s existing FSCS membership up to a maximum of £85,000 per person. The £85,000 limit relates to a customer’s combined deposits with Northern Rock plc under the Northern Rock and Virgin Money trading names.

Via EPR Network
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TOMEX Launches New and Direct Spread Contract

TOMEX, one of the world’s leading trading companies has recently launched a new direct spread contract that will allow its members to manage the difference between spot contracts. This new contract will give members of Tokyo Mercantile Exchange more options when it comes to trading, which is also in direct response to their unified requests.

This gives both industrial and financial institutions another method to hedge the liquidity in the spot markets. Doing a direct spread contract is simple as you make one singular trade which is then automatically divided into a singular trade and a single delivery. On the other hand, even if two separate trades are physically created a trader or member will only be paying for the difference between the two contracts.

Jefferson Harold, CEO of Tokyo Mercantile TOMEX recently said, “This new and improved contract was created as a direct answer to the requests of our clients and members for more financial products. On the plus side, it also serves as an additional way to help other companies make full use of their asset management.” This will further expand its suite of investor relations and intelligence services for advisory companies and their individual and institutional clients.

The new contracts will offer for companies trading on behalf of institutional clients on Tokyo Mercantile Exchange access to an bundle of individually-packaged intelligence services powered websites and other sophisticated tools. The recent announcement is a branch of the TOMEX’s access centres for the market’s most comprehensive investor relations, as well as market intelligence service for companies trading on TOMEX.

These arrangements are an indication of our client focus and dedication to give top services for our trading companies,” said Tokubey Ito, Vice President of Tokyo Mercantile Exchane.“We are pleased that TOMEX, one of the world’s leading TOMEX groups, has decided to work with us in its continued support of TOMEX-listed companies,” said Mark Kevins, the President and COO of INTELLIGENCE SERVICES COMPANY. “We are very confident that through this partnership, in addition to the TOMEX access centre, TOMEX-listed firms will receive a level of market insight never before available.”

“Especially in this current state of the economy, professionals need intelligent information, strong analytics and advanced tools that provide greater transparency into the evolving markets. We are more than happy to give TOMEX trading companies with the answers they need to effectively manage investors”, completed Mr. Ito.

Via EPR Network
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TOMEX Announces Changes in Credit Brokerage Management Team

TOMEX, a leading operator of regulated futures exchanges, clearing houses and over-the-counter markets, announced changes to the management team within its Credit Tomex dervivatives sector. Wholy owned by TOMEX, Credit Tomex is one of the most promising platforms for default swaps and derivatives credit.

TOMEX appointed Arata Haruka as President. Mr. Haruka was previously the Managing Director at Credit Tomex where he was in charge for several years. Mr. Arata Haruka will replace Umetaro Hakaru, Chief Executive Officer of Credit Tomex, who is now pursuing other opportunities. Mr. Umetaro Hakaru played a key role in building Credit Tomex and in facilitating its integration into Tokyo Mercantile Exchange Trading Platforms. TOMEX has also appointed Jefferson Harold as Chief Operating Officer of Credit Tomex. Mr. Jefferson Harold joined Credit Tomex a few years back as the Financial Officer and played an instrumental role in creating synergies between Credit Tomex and TOMEX Trading Platforms.

Hisao Yamada, the Senior Vice President who co-created Credit Tomex a decade and served as its C.O.O to TOMEX last year will also be in charge of the Marketing Department of Credit Tomex and also will remain as an advisor to TOMEX Board of Directors. Since the inception of Credit Tomex recently, he has been instrumental in the integration of Credit Tomex into the organization and in the execution of TOMEX strategies.

TOMEX CEO, Jefferson Harold, said: “We are more than happy to elevate the new management as key contributors in our business. Based on our successful partnership in supporting the evolution the credit default swap space, I want to thank the whole management team for their help with our achievements over the past years. This industry insights have been extremely important as TOMEX has established its leadership position in the credit default swap markets. On behalf of the entire TOMEX team, I want to explicitly state our appreciation to the whole of the management team for their efforts in integrating Credit TOMEX business.”

Via EPR Network
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TOMEX Announces the Launch of Long-Term Bond Futures for Clients

Tokyo Mercantile Exchange, one of the industry’s biggest and most diverse futures marketplace recently announced the launch of long-term futures beginning this year. These contracts will be part of and subject to the regulations and laws of the industry authorities. It will also be approved pending the board’s ruling.

“The long-term futures has now become part of TOMEX’s product listing as part of our response to overwhelming customer demands and requests for a contract that is similar to this one that we have launched,” said Tokubey Ito, TOMEX Director and Vice President of Consumer Affairs. “This new contract will complement our remaining products and allow us to grow the range of services as well as trading opportunities for industry participants and our clientele.”

Derivatives that are redeemable for the new long-term futures contracts will consist of cash bonds with at least 25 years of remaining term to maturity. By comparing them, redeemable derivatives for the existing bonds contract are bonds with remaining terms to maturity of 15 years or more. There is a rather vast difference between the two that clients will be able to choose depending on what they prefer. The recent policy shift towards greater issuance of long-term bonds has enabled Tokyo Mercantile Exchange to launch this contract targeted at this important part of the yield curve.

In all other aspects the specifications for the bond futures have seen close resemblance with those that are in the existing treasury bond contract. They are similar in terms of their value, low tick size, contract critical dates, and coupon. Initially, TOMEX will list three delivery months in the bond futures, beginning with mid 2012. There will be no notable differences or adjustments to the currently listed treasury bond futures contract specifications and requirements. Additional information about futures, other trading products and TOMEX’s other interests can be found at www.tomex.jp.

Via EPR Network
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Northern Rock Honoured For Its Community Service

Northern Rock has announced that it was commended in the Mortgage Finance Gazette Awards for its dedication to community service. The honours were given just six months after Northern Rock was heralded among the most responsible businesses in the UK.

After receiving Business in the Community’s (BITC) national Big Tick for its work to tackle financial exclusion, the readers of Mortgage Finance Gazette have now commended the bank in its annual awards.

The magazine’s readers nominated the lender in recognition of its work in the voluntary sector, and the judges, including journalists from the national press, industry experts, and the editors of ‘What Mortgage’ and ‘Mortgage Finance Gazette,’ were particularly impressed by the bank’s staff involvement in the community as well as other fundraising and voluntary activities.

Representatives from Northern Rock collected the commendation in the ‘Community Services Award’ for large lenders at an event in the capital last night. The December edition of Mortgage Finance Gazette, a publication about mortgages and the mortgage industry, features coverage of the event.

Northern Rock’s Customer and Commercial Director Andy Tate said: “We are absolutely delighted to receive a further commendation for our work in the community, and it is wonderful that our dedication to embedding this as part of our organisational culture is being recognised.

“Awards like this are further endorsement of the valuable role Northern Rock and its colleagues play in supporting its local communities, particularly those facing financial difficulty.”

Judge Joanne Atkin, Editor of Mortgage Finance Gazette said that she and her colleagues had had had a difficult job and that those who had been highly commended were truly deserving. She added: “Community is at the core of Northern Rock’s business strategy which is framed and communicated through four Cs – colleague, customer, company and community.

“Community within Northern Rock is about giving of both time and money. The Samaritans is Northern Rock’s corporate charity of the year but it also works with a number of good causes: Women’s Aid, a fight against domestic violence; The Cyrenians, which operates refuges for the homeless around the UK; Shelter, Crisis, The People’s Kitchen and a partnership which enables a small community-based bank to relieve the financial hardship of individuals and families resulting from poor money management, unmanageable levels of high interest debt and no savings.”

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Northern Rock Video Investigates Money Worries

Northern Rock’s latest video has put consumers in the spotlight as they reveal that by far their biggest money worry is paying the mortgage each month.

The bank took to the streets to find out what concerns people most about their finances, and the overwhelming majority of consumers confirmed their mortgage payment was their biggest financial worry.

As recent research undertaken by Northern Rock showed, many UK mortgage borrowers coming to the end of their fixed rate deal could be better off if they took a mortgage with Northern Rock. The bank is confident it can help reduce this concern for customers, and put them back in control of their finances.

Lloyd Cochrane, Head of Lending Products at Northern Rock said: “Fixed rate pricing across the market is at an all-time low and we continue to offer some very attractive deals, as well as our Freedom to Fix option, a Tracker which gives customers the opportunity to fix if interest rates should start to rise.

“We believe we can help many of these consumers to reduce their anxiety over their monthly mortgage payment by helping them find a Northern Rock mortgage that works for them. Whether you’d like the security of knowing what your payment will be for the next two years or you’re looking for more flexibility, we’re sure we have an option to suit you.”

More information on Northern Rock’s current range of mortgages can be found at its award-winning mortgages website, located at
www.northernrock.co.uk/mortgages/putting-you-in-control/.

The site also includes a range of interactive tools, such as a jargon buster, budget planner and mortgage calculator, to help take the complexity out of selecting the right mortgage.

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Northern Rock Launches Competitive New Fixed Rate Cash e-ISAs

Northern Rock has launched three new online issues of its Fixed Rate Cash e-ISA to complement its competitive portfolio of internet-based savings accounts.

The e-ISA offers those who prefer to operate their accounts via the internet an online option for their tax-free savings. The e-ISA is a cash ISA set at a competitive fixed rate of interest over a choice of one, two or three years and can be opened with no minimum initial deposit.

Interest, which can be added to the account or paid into another account, is paid annually on the first business day following 5 August on minimum balances of £500 (balances which fall below this amount will earn Northern Rock’s prevailing rate of interest, 0.10% tax free pa /AER).

Strictly limited issues, the Fixed Rate Cash e-ISAs (issues 25, 26 and 27) allow transfers in from other providers and additional deposits can be made to the cash ISAs, within HM Revenue and Customs limits (£5,340 per tax-year from 6 April 2011) within 30 days after the product is withdrawn (excepting postal applications to transfer in from other banks and building society ISA accounts, which must be received while the product remains on sale).

To ensure funds are accepted into new accounts, Northern Rock must receive all funds within 30 days from the account opening date. Therefore, individuals must initiate any Cash ISA transfers in as soon as they receive their new Cash ISA details. After the 30 day period one may not be able to make any additional deposits into the Cash ISA. Subscriptions are not allowed to any other Cash ISAs in the same tax year(s) that one subscribes to this Cash ISA, even if the full annual allowance(s) haven’t been used.

Thirty days following the products withdrawal, no further deposits will be accepted and all three issues may be withdrawn without notice, once fully subscribed.

Minimum withdrawals of £1 by BACS and £250 by CHAPS can be made, subject to a charge equivalent to 60 days’ loss of interest on the amount withdrawn (Issue 25), 90 days’ loss of interest on the amount withdrawn (Issue 26), or 120 days’ loss of interest on the amount withdrawn (Issue 27). There is a £35 fee for transfers out via CHAPS.

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Northern Rock Staff Star In Latest Campaign To Help Bring Mortgages To Life

Northern Rock has placed its own staff in a starring role in its new mortgage campaign. The new campaign aims to build on the success of the helpful video guides available on its award winning mortgages website.

Two customer service agents from the lender’s Tyneside call centre are the first to have lent themselves to the latest campaign – ‘Mortgages Made For You’ – by appearing in video clips designed to bring their own warmth and personality to the business of mortgage lending.

The videos, which feature call centre workers Leanne and Joanne, along with some details about their own lives and circumstances, highlight not only that the bank’s staff are there to guide borrowers through every step of their mortgage journey, but also feature details of the lender’s popular incentives, Cashback, and free basic valuation and standard legal costs for all re-mortgage customers.

The move comes just months after the successful launch of the bank’s brand campaign, ‘Works for Me’, which features real Northern Rock customers pictured in their own homes, and is the latest improvement to a website which has won a string of accolades since its redesign last year.

Andy Tate, Customer and Commercial Director at Northern Rock said: “Buying a home can be stressful and daunting for anyone. Here at Northern Rock, we regularly receive great feedback from our customers about how friendly and warm our staff are to deal with, and how straightforward they help make the mortgage journey.

“So, building on ‘Works for Me’, which is all about letting our customers speak for us, we thought our dedicated colleagues in our branches and contact centre would provide the perfect next step. After all, they are the human face of Northern Rock, providing the first point of contact to all our customers.

“We hope our customers will find the most recent videos, and ‘Mortgages Made for You’, a welcome addition to the website.”

The videos can be viewed at www.northernrock.co.uk/mortgages/Mortgages-Made-For-You along with more details on the bank’s current range of mortgages and other tools including a mortgages calculator.

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Northern Rock Launches New eBond Issues

Northern Rock has launched two new issues of its new online fixed rate e-bond account, providing competitive interest rates for those savers who wish to operate their accounts online. e-bond (issues 18 and 19) will are available now.

With a minimum deposit of just £1, customers can benefit from a competitive fixed rate of interest until 20 October 2012 on e-bond issue 18, which pays 3.00% gross*/AER** annually. Alternatively, they can choose e–bond issue 19, which pays 3.25% gross*/AER** pa, fixed until 20 October 2014. Monthly interest rate options are also available on all three products. Accounts must be opened and operated online and initial deposits can be made online by electronic transfer from another bank or building society.

Account holders can choose to have their interest paid annually (interest is calculated daily) on 5 August, or monthly (the monthly interest rate is 0.30% below the gross* annual rate) on the 7th of the month (available next business day).

Additional deposits to the bonds can be made during the offer period up to a maximum of £500,000 per customer. The fixed rate bonds (Issues 18 and 19) are non-redeemable and none of the issues allow any withdrawals or closure during their respective fixed rate periods. The bonds are offered on a strictly limited issue basis and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

Full product details are available at Northern Rock’s website at northernrock.co.uk/savings.

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