Tag Archives: Banking & Financial Services

Padlock Partners UK Fund I Submits Initial Prospectus for Initial Public Offering | Instant News


TORONTO, July 10, 2020 / CNW / – UK Fund Padlock I Partner (the “Trust“) announced today that it has submitted with a securities commission from all provinces and regions of Indonesia Canada, and obtain a receipt for, initial prospectus for the initial public offering of a trust unit (“Offerings“). The preliminary prospectus meets the minimum distribution requirements $ 15 million and maximum C $ 40 million Class A Units, Class F Units, and / or Class C Units (collectively, “Unit“) from the Trust at a price C $ 10.00 each unit.

Trust is a disembodied investment trust and was established for the primary purpose of investing in a diversified income portfolio that produces commercial real estate properties great Britain with a focus on self-storage and the nature of mixed use. Upon completion of the Offer, the Trust intends to indirectly acquire two own storage properties and one development property located at great Britain. The net proceeds of the Offer will be used to subsequently acquire one or more additional properties at great Britain, consistent with the Trust’s investment objectives, among others, providing opportunities for unitholders to invest in a diverse income-generating commercial real estate portfolio in great Britain, with a special focus on self-storage and multi-purpose property.

Padlock Capital Partners, LLC (the “Manager“), an affiliate of Clear Sky Capital Inc. (“Bright sky“), is a Trust promoter and will also act as a portfolio manager. Since it was founded in 2009 and until the fourth quarter of 2019, Clear Sky and its affiliates acquired or developed US $ 771 million real estate investment and operating assets, more than investment US $ 270 million equity through various investment vehicles. Clear Sky’s investment is diversified in various real estate sectors including multifamily, car wash, self storage, manufactured housing, and salon suites that work together.

The syndicate of agents for the Offer will be led by CIBC World Markets Inc.

This press release does not constitute an offer to sell or solicitation of offers to buy securities from Trust in United States of America, also there will be no sale of securities from the Trust in any jurisdiction where the offer, request or sale would violate the law. The securities described here have not and will not be registered under the United States Securities Act of 1933, as amended (“1933 Act“), and may not be offered or sold at United States of America no registration or exemption applies from the registration requirements of the Act 1933 and the applicable state securities laws.

An initial prospectus containing important information relating to this security has been submitted to the securities commission or similar authority in each province and region. Canada. The preliminary prospectus can still be completed or changed. A copy of the initial prospectus can be obtained from CIBC World Markets Inc. and available at SEDAR at www.sedar.com. There will be no sale or acceptance of an offer to purchase securities until the receipt for the final prospectus has been issued.

Forward-looking statement

This press release contains statements that include forward-looking information in the meaning of Canadian securities law. This forward-looking statement reflects the current expectations of the Trust and Managers about future events, including statements about the use of the Offer’s results. In some cases, forward-looking statements can be identified by terms such as “maybe”, “maybe”, “will”, “can”, “must”, “will”, “happen”, “hopes”, “plans”, ” anticipate “,” believe “,” intend “,” seek “,” aim “,” estimate “,” target “,” project “,” estimate “,” estimate “,” estimate “,” potential “,” continue ” , “possibilities”, “schedules”, or negatives or other similar expressions about things that are not historical facts.

Material factors and assumptions used by Trust management to develop forward-looking information include, but are not limited to, the Trust’s current expectations about: the availability of property for acquisition and the price at which the property can be obtained; availability of mortgage financing; Trust capital structure; global and great Britain economic environment; foreign exchange rates; and government regulations or tax laws. Although management considers these assumptions to be reasonable based on the information currently available, they might be proven wrong.

Although management believes that the expectations reflected in such forward-looking statements make sense and represent the current internal projections, expectations and beliefs of the Trust, the statements involve known and unknown risks and uncertainties that may be general or specific and that give rise to possibilities . that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be true and that goals, strategic goals and priorities may not be achieved. Various factors, many of which are outside the Trust’s control, can cause actual future results to differ materially from current expectations of predicted or anticipated events or results expressed or implied by such forward-looking statements. These factors include risks identified in the initial prospectus, including under the heading “Risk Factors” in them, as well as, among other things, risks related to the availability of property suitable for purchase by the Trust, availability of mortgage financing for property, and economic factors and the market in general, including interest rates, potential real estate buyers, business competition, changes in government regulations or income tax laws. Readers are warned not to place undue dependence on forward-looking statements. Except as required by applicable Canadian securities laws, the Trust is not obliged to openly update or revise forward-looking statements, whether as a result of new information, future events or vice versa, after the date on which the statement was made or to reflect the occurrence unexpected event.

SOURCE Padlock Partners, UK Funds I

For more information: John Stevenson, Chief Executive, Padlock Partners UK Fund I, 480-309-6184, [email protected]; Matthew Collins, Chief Financial Officer, Padlock Partners UK Fund I, 480-428-0152, [email protected]


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IBM Canada and the prairie credit union join forces for digital transformation and payment modernization at IBM Public Cloud | Instant News

More and more people are choosing digital payments over cash and government agencies are constantly updating regulations to compensate for these demands. According to Payment, Canada Payment Methods and Trends annual Canada Report released in December, electronic payments account for 73 percent of all transaction volumes versus cash of 21 percent. This new Payment as Service Platform will be developed and managed by IBM Services and hosted in a private cloud environment dedicated to the IBM public cloud.

Credit union at Alberta, Saskatchewan and Manitoba will utilize the platform to drive innovation and new product offerings, ensure they are competitive in the industry and give their members access to the most efficient and cost-effective modern payment processing infrastructure. This platform will also help maintain credit union readiness to comply with evolving regulatory requirements with a much lower investment.

Delivered by IBM Services via IBM Canada Payment Center, the Payment platform as a modern service is deployed on private clouds hosted on IBM public clouds. This high availability solution is designed to meet stringent regulatory requirements for transmission of financial, security and privacy data, including real-time and cognitive fraud detection capabilities. This platform will also enable the integration of major third-party fintech partners to help credit unions drive rapid innovation for their members.

“The dramatic movement that we are witnessing with the modernization of payments is in response to requests from Canada for interaction without friction, but also for privacy, security and better speed,” said Dave McCann, Implementing Partner, Global Business Services, IBM Canada. “By hosting its payment platform in the cloud, we will finally enable onboard credit unions, the flexibility to quickly innovate the experience of new digital members for businesses and members on all types of payments in a more efficient, secure and resilient way.”

“Credit unions have always been innovators. From being the first to offer debit card services, ATM banking, cellular payments and cellular banking, we know how important it is to move faster with payment products and offer digital experiences,” said Michael Devlin, CEO, PPJV. “Changes are taking place in the payment industry, such as open banking, and companies outside the financial sector are entering the market with new credit cards and cryptocurrency. All of these changes promise a new era of transparency, but also increase privacy and security challenges. To maintain speed, the need for payment modernization for a credit union has never been greater. We are pleased to be working with IBM Canada on this initiative. ”

The IBM Payments-as-a-Service platform for prairie credit unions is expected to begin joining participating credit unions in the fall of 2020. This will begin with the Single Zone Zone (SZR) deployment model and will be expanded to support Multi-Zone Regions (MZR) ) in the future.

About the Prairie Payment Joint Venture (PPJV)
PPJV is a joint venture formed between the Central Credit Union at Alberta, Saskatchewan and Manitoba to manage and manage IBM contracts. Collectively representing more than 75 credit unions in three prairie provinces.

About IBM Canada
For more information about the IBM Canada Payment Center, visit: www.ibm.com/ca-en/marketplace/ibm-payments-centres-canada

For more information about IBM Canada, visit: www.ibm.com/ca-en

SOURCE IBM Canada Ltd.

For more information: Media Contact: Lorraine Baldwin, IBM Canada, [email protected]; Alexandra Frison, Alberta Central, [email protected]

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Collection of United Kingdom Consumer Credit Debt and Market Outlook for Debt Purchase, 2016-2020 | Instant News

DUBLIN, May 5, 2020 / PRNewswire / – The “Collection of UK Consumer Credit Debt and Debt Purchase: Market Insight 2020 Report” a report was added to ResearchAndMarkets.com offerings.

The scope of this report is a product regulated by the Consumer Credit Act. This report quantifies market size and trends while reviewing the key factors behind these figures.

Buyers of consumer credit debt and debt collection agencies are profiled, and their performance is compared:

  • When companies engage in broader debt activity (eg dealing with utility bills rather than consumer credit debt) we only measure their consumer credit activity.
  • This is done, if possible, by referring to Group entities specifically authorized by the Financial Conduct Authority for this activity.
  • We make estimates if necessary and provide details.

What is included?

  • Quantification of market size in 2019
  • Historical growth since 2016.
  • Authors’ thoughts about market prospects (to be revised after the impact of the COVID-19 pandemic is clear)
  • Summary of market trends.
  • The table shows debt companies where different lenders have sold debt to or have appointed to collect debt on their behalf.
  • Analysis and profile of leading debt collection agencies and consumer debt buyers.

Main Topics Covered

About the market

  • Market Definition
  • Market background
  • Nearby market
  • Market appeal and barriers to entry
  • Value driver
  • Regulation

Market size and growth

  • Methodology
  • Market size
  • Debt sales market
  • Investor tastes and capital availability
  • Credit Service Association Data
  • Income trend
  • Industry profitability

Market Movers

  • Economic performance
  • Consumer loans
  • The ability to borrow services
  • The attitude of creditors

Improvements in system and data usage

  • Growth in outsourcing by the public sector
  • Increased interest from other asset classes

Competitive landscape

Profile of leading debt collectors

  • Arvato
  • Capita plc
  • Moorcroft
  • Wescot

Profile of leading debt buyers

  • Intrus
  • Global Arrows
  • Cabot
  • British Finance Hoist
  • Idem Capital
  • Financial Link
  • GFKL Lowell
  • Recovery Max
  • Lantern
  • PRA Group


  • Approach
  • Estimated main driver
  • Debt sales market forecast
  • Collection environment
  • Market forecasts
  • Risks to predictions

For more information about visiting this report https://www.researchandmarkets.com/r/nwacw4

Research and Markets also offer Custom Research services that provide focused, comprehensive and designed research.

Media Contact:

Research and Market
Laura Wood, Senior manager
[email protected]

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SOURCE Research and Markets

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